Freehold bungalow on Kew Drive sold for $16.3 mil
The purchaser of 26 Kew Drive had indeed been searching for a ground property in the place for “rather some time”, says See. They had actually made an offer for the real estate a year earlier at $16 million, but the previous owner picked not to proceed with the deal at that cost.
The previous owners of 26 Kew Drive have dwelled the presenting six-bedroom, 6500 sq ft real property since it was built over three decades ago. In March this year, the house was put up for sale using a tender exercise by OrangeTee & Tie with a guide rate of $18 million. The tender closed up on April 14 without obtaining a purchaser.
A property bungalow near Kew Drive, off Upper East Coast in District 16, has actually been cost $16.3 million. Based on the estate land spot of 14,376 sq ft, this works out to $1,134 psf. Mey Lim as well as Lawrence See of GCB Collective, a team of bungalow experts in Huttons Asia, serviced the transaction. In terms of absolute rate, this is the highest ever before for a residence in the Kew estate, states See.
The customer consequently took a look at other landed properties yet could not discover a site that matched their requirements. “They like this plot [at 26 Kew Drive] provided its size including redevelopment opportunity, as well as the fact that it is within strolling distance of common transportation services,” he mentions. The house is a four-minute walking from the Upper East Coastline Bus Terminal and less than a 10-minute walk from the upcoming Bedok South MRT Station on the Thomson-East Coast Line.
Given their interest for the site, the purchaser, who is a Singaporean, secured a raised proposal of $16.3 million. See claims they plan to tear down the existing property and develop a new one initially. Based upon URA’s Master Plan 2019, the site is assigned for a landed development of approximately 3 floors. Situated at the end of a dead end, the elevated location suggests the brand-new residence would certainly have sights of the bordering landed estate.
Lentor Hills Residences showflat location
Caveats lodged tv show that the former high was the deal of a bungalow on Kew Drive inhabiting a property land area of 11,857 sq ft in December 2017. The real estate brought $10.55 million or $890 psf on the land area. One of the most current purchase for a separated home in the location happened on Jan 13, 2022 when 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 brought $6.38 million ($771 psf) on Jan 6, 2022.
The property is a 10-minute stroll to Bedok Food Centre and even a five-minute drive to Siglap Community Club, that has retail store services, including a Sheng Siong Supermarket, a McDonald’s dining establishment and even an Anytime Fitness gym. 26 Kew Drive is likewise situated just within 1km of Temasek Primary School and Temasek Senior High School.
