Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil

A bungalow located along Ocean Drive in the distinctive Sentosa Cove property enclave will certainly be set up for auction by SRI on April 28. The building is a mortgagee sale and also has an overview cost of $21 million, which translates to $2,192 psf based upon the building’s land area of 9,580 sq ft.

On Jan 12, a bungalow sitting on an area of 8,632 sq ft at Treasure Island on Sentosa Cove was sold for $14.3 million ($1,657 psf). Meanwhile, a bungalow at Lakeshore View resting on an acreage of 7,888 sq ft was sold for $17.6 million ($2,231 psf) on Feb 9. Most recently, a bungalow at Cove Way in the South Cove sitting on a land area of 8,944 sq ft modified hands for $18.4 million ($2,057 psf) on March 22.

The residential property was created by a private owner that was among the very first to purchase a bungalow development site in the North Cove of Sentosa Cove from Sentosa Development Corp. The property has actually changed hands four times since then, the latest being in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.

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The master bedroom is located on the first floor as well as comes with straight access to an outside patio. Two additional en suite bed rooms, together with the kitchen and also eating place, are additionally located on the first floor of the house, all of which available to a yard and water feature. There is additionally an en suite room located on the 2nd storey.

The double-storey bungalow has 4 rooms and 6 shower rooms, with an overall built-up area of 5,252 sq ft. The property has a 99-year leasehold tenure which started from 2005. An essential feature of the house is the full-height glass home windows of the living room on the second degree of the house, which provides an unblocked sight of the sea as well as the CBD sky line throughout the water.

In November 2011, it had actually improved hands for $25 million ($2,610 psf), while in January 2011, it was sold for $24 million ($2,504 psf). The earliest transaction lodged for the residential property was in October 2009 when it was sold for $16.9 million ($1,763 psf).

The bungalow at Ocean Drive that is up for bargain is located near F&B outlets and retail offerings at Quayside Isle and also One Degree 15 Marina Sentosa Cove. It is also only a 10-minute trip to VivoCity and also the CBD.

Sentosa Cove bungalows and also condominiums have seen a renewal in deal activity over the previous year. The current transaction of a bungalow along Sea Drive was on Nov 2 last year, when a waterway-facing building sitting on a 10,629 sq ft, 99-year leasehold site changed hands for about $23 million ($2,164 psf).