Kew Lodge sold for $66.8 mil to Aurum Land in first collective sale since April cooling measures
The transaction of Kew Lodge was brokered by Sakal Real Estate Partners, with the offer marking the real estate financial investment advisory as well as brokerage company’s very first cumulative sale purchase. Rajah and even Tann are the selected lawful representative for the owners.
The sale of Kew Lodge is hanging approval of the Strata Titles Board.
The transactions notes the first collective sale ever since fresh air conditioning solutions came into effect on April 27, including enhanced Additional Buyer’s Stamp Duty prices.
Kew Lodge makes up 11 townhouses varying from 2,013 sq ft to 2,852 sq ft on a 34,433 sq ft area. Zoned within a “Residential/ two-storey mixed landed” location under the URA 2019 Master Plan, the plot can possibly be redeveloped into a brand-new job consisting of bungalows, semi-detached houses and/or terrace Residences
Michelle Yong, Chief Executive Officer of Aurum Land, says the procurement will broaden the company’s extent right into the landed estate field. “On a personal degree, I prepare to make my own family house within this unique collection of deluxe homes along with am thrilled to stretch the exact same chance to supply bespoke style options to satisfy the lifestyle demands of our worrying purchasers,” she includes. Aurum Land is the property developer behind projects including The Hyde on Balmoral Road in District 10 and also Nyon on Amber Road in District 15.
“In land-scarce Singapore we face a fairly restrictive fresh source of brand new landed properties in contrast to non-landed residences. We look at possession of prime landed homes as a significant store of riches that presents significant capital upside gradually. A landed home acquisition today can certainly be a strategic financial investment for future generations,” claims Steven Ming, managing partner at Sakal Real Estate Partners, that also co-founded the company in 2018.
Kew Lodge, a freehold landed residential site at Kheam Hock Roadway in District 11, has recently been marketed en bloc to Aurum Land, a branch of Woh Hup, for $66.8 million. The cumulative sale tender for the property finalized on May 23. Aurum Land’s bid represents a 5% costs over the location’s overview price of $63.8 million as well as figures out to a land price of around $1,940 psf.
