Freehold bungalow on Kew Drive sold for $16.3 mil

A property bungalow near Kew Drive, off Upper East Coast in District 16, has been brought $16.3 million. Based upon the estate land location of 14,376 sq ft, this figures out to $1,134 psf. Mey Lim and Lawrence See of GCB Collective, a group of bungalow experts in Huttons Asia, agented the purchase. In terms of outright cost, this is the greatest ever for a residence in the Kew property, says See.

The purchaser ultimately looked at many other landed real estates yet can not find a location that suited their demands. “They prefer this plot [at 26 Kew Drive] offered its dimension and redevelopment opportunity, along with the fact that it is within walking proximity of common transportation services,” he says. The house is a four-minute walk from the Upper East Coast Bus Terminal and also no more than a 10-minute walk from the upcoming Bedok South MRT Station on the Thomson-East Coastline Line.

The customer of 26 Kew Drive had been looking for a ground property in the place for “fairly some time”, says See. They had actually made a deal for the residence a year back at $16 million, however the past owner chose not to proceed with the deal at that price.

The former proprietors of 26 Kew Drive have actually occupied the presenting six-bedroom, 6500 sq ft property from it was developed over 30 years earlier. In March this year, the residential property was put up for sale through a tender exercise by OrangeTee & Tie with a guide cost of $18 million. The tender closed on April 14 without obtaining a customer.

Offered their choice for the spot, the customer, who is a Singaporean, generated an increased proposal of $16.3 million. See states they plan to take apart the existing property and also develop a brand-new one from scratch. Based upon URA’s Master Plan 2019, the location is designated for a landed innovation of approximately three floors. Located at the end of a dead end, the raised site means the new residence would certainly have viewpoints of the bordering landed estate.

Klimt Cairnhill Low Keng Huat

Caveats lodged show that the previous high was the deal of a bungalow on Kew Drive inhabiting a property acreage of 11,857 sq ft in December 2017. The real estate retrieved $10.55 million or $890 psf on the land area. The most recent purchase for a detached home in the vicinity 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 obtained $6.38 million ($771 psf) on Jan 6, 2022.

The residential property is a 10-minute stroll to Bedok Food Centre and also a five-minute drive to Siglap Community Club, that has retail industry offers, involving a Sheng Siong Supermarket, a McDonald’s dining establishment plus an Anytime Fitness work out center. 26 Kew Drive is additionally placed inside of 1km of Temasek Primary School also Temasek High School.

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