Kew Lodge sold for $66.8 mil to Aurum Land in first collective sale since April cooling measures
Kew Lodge makes up 11 townhouses varying between from 2,013 sq ft to 2,852 sq ft on a 34,433 sq ft area. Zoned throughout a “Residential/ two-storey mixed landed” area following the URA 2019 Master Plan, the plot can possibly be redeveloped right into a new job consisting of bungalows, semi-detached homes and/or terrace Houses
The sale of Kew Lodge is hanging authorization of the Strata Titles Board.
“In land-scarce Singapore we deal with a somewhat restrictive new supply of new landed residential properties instead of non-landed buildings. We view possession of prime landed residences as a significant retailer of riches that offers considerable funding upside over time. A landed house purchase today can be a vital investment for future generations,” states Steven Ming, managing partner at Sakal Real Estate Partners, that also co-founded the company in 2018.
The transactions notes the very first collective sale from fresh air conditioning steps came into effect on April 27, consisting of enhanced Additional Buyer’s Stamp Duty rates.
The sale of Kew Lodge was brokered by Sakal Real Estate Partners, with the deal noting the realty investment advisory as well as brokerage company’s initial cumulative sale transaction. Rajah and Tann are the appointed legal agent for the owners.
Kew Lodge, a freehold landed non commercial site at Kheam Hock Roadway in District 11, has been sold en bloc to Aurum Land, a subsidiary of Woh Hup, for $66.8 million. The collective sale tender for the real estate closed on May 23. Aurum Land’s bid stands for a 5% costs over the location’s overview price of $63.8 million and also figures out to a land cost of approximately $1,940 psf.
Michelle Yong, CEO of Aurum Land, says the purchase will certainly expand the business’s range right into the landed real estate industry. “On a personal level, I intend to develop my very own household house within this unique variety of deluxe homes along with am excited to extend the exact same possibility to supply bespoke design services to meet the lifestyle needs of our worrying purchasers,” she includes. Aurum Land is the property developer behind ventures including The Hyde on Balmoral Roadway in District 10 and Nyon on Amber Roadway in District 15.
