Freehold bungalow on Kew Drive sold for $16.3 mil
The former proprietors of 26 Kew Drive have occupied the existing six-bedroom, 6500 sq ft real estate ever since it was developed over thirty years ago. In March this year, the residential property was put up for sale via a tender exercise by OrangeTee & Tie with a guide rate of $18 million. The tender finalized on April 14 without finding a purchaser.
The real estate is a 10-minute walk to Bedok Food Centre and a five-minute drive to Siglap Community Club, which has retail offerings, featuring a Sheng Siong Supermarket, a McDonald’s dining establishment plus an Anytime Fitness fitness center. 26 Kew Drive is additionally placed inside of 1km of Temasek Primary School together with Temasek Senior High School.
Offered their choice for the site, the purchaser, who is a Singaporean, made a raised offer of $16.3 million. See states they prepare to take apart the presenting residential property and also develop a new one initially. Based upon URA’s Master Plan 2019, the location is assigned for a landed innovation of as much as 3 storeys. Located at the end of a cul-de-sac, the elevated location indicates the brand-new residence would have sights of the bordering landed estate.
The customer of 26 Kew Drive had indeed been searching for a landed property in the area for “quite some point”, claims See. They had made a proposal for the real estate a year back at $16 million, yet the past owner selected not to carry on with the sale at that value.
The purchaser consequently checked out other landed residential properties but could not get a location that fit their requirements. “They wish this plot [at 26 Kew Drive] given its dimension including redevelopment possibility, in addition to the fact that it is inside walking range of common transportation facilities,” he mentions. The house is a four-minute stroll from the Upper East Coastline Bus Terminal and also less than a 10-minute stroll from the upcoming Bedok South MRT Station on the Thomson-East Coastline Line.
A real estate bungalow along Kew Drive, off Upper East Coast in District 16, has been sold for $16.3 million. Based upon the estate land location of 14,376 sq ft, this figures out to $1,134 psf. Mey Lim as well as Lawrence See of GCB Collective, a group of bungalow specialists in Huttons Asia, serviced the transaction. In regards to outright cost, this is the highest ever before for a home in the Kew assets, states See.
Caveats lodged show that the prior high was the sale of a bungalow on Kew Drive taking up an estate acreage of 11,857 sq ft in December 2017. The residential property fetched $10.55 million or $890 psf on the land area. One of the most current purchase for a removed home in the location happened on Jan 13, 2022 the second a bungalow on Kew Terrace with an acreage of 4,496 sq ft changed hands for $3.58 million ($796 psf). Before that, a bungalow on Kew Drive with an acreage of 8,279 sq ft fetched $6.38 million ($771 psf) on Jan 6, 2022.
