Freehold bungalow on Kew Drive sold for $16.3 mil
The buyer of 26 Kew Drive had actually been searching for a ground real estate in the location for “quite some point”, states See. They had actually made a proposal for the residence a year ago at $16 million, however the prior owner picked not to carry on with the deal at that price.
Caveats lodged show that the former high was the deal of a bungalow on Kew Drive inhabiting a freehold acreage of 11,857 sq ft in December 2017. The residential property retrieved $10.55 million or $890 psf on the land area. One of the most current purchase for a separated home in the area happened on Jan 13, 2022 when a bungalow on Kew Terrace with an acreage of 4,496 sq ft switched hands for $3.58 million ($796 psf). Prior to that, a bungalow on Kew Drive with an acreage of 8,279 sq ft brought $6.38 million ($771 psf) on Jan 6, 2022.
Provided their choice for the location, the customer, who is a Singaporean, made a raised proposal of $16.3 million. See states they intend to tear down the occurring residential property and establish a brand-new one from the ground up. Based on URA’s Master Plan 2019, the site is designated for a landed property development of up to 3 storeys. Situated at the end of a dead end, the raised site suggests the brand-new house would certainly have viewpoints of the surrounding landed estate.
The buyer ultimately checked out many other landed residential properties yet could not discover a location that matched their demands. “They like this plot [at 26 Kew Drive] provided its dimension and even redevelopment opportunity, along with the fact that it is in just walking range of common transport facilities,” he mentions. The house is a four-minute walking from the Upper East Shore Bus Terminal and also no more than a 10-minute stroll from the upcoming Bedok South MRT Station on the Thomson-East Coast Line.
The property is a 10-minute walk to Bedok Food Centre and even a five-minute drive to Siglap Community Club, that has retail industry offers, including a Sheng Siong Supermarket, a McDonald’s dining establishment and even an Anytime Fitness fitness center. 26 Kew Drive is also placed within 1km of Temasek Primary School also Temasek Senior High School.
A property bungalow near Kew Drive, off Upper East Coast in District 16, has been sold for $16.3 million. Based on the freehold land spot of 14,376 sq ft, this works out to $1,134 psf. Mey Lim and also Lawrence See of GCB Collective, a team of bungalow professionals in Huttons Asia, brokered the transaction. In terms of absolute cost, this is the highest ever for a house in the Kew property, states See.
The former homeowners of 26 Kew Drive have dwelled the existing six-bedroom, 6500 sq ft real property from it was built over thirty years ago. In March this year, the residence was put up for sale through a tender exercise by OrangeTee & Tie with a guide price of $18 million. The tender finalized on April 14 without getting a purchaser.
