Freehold bungalow on Kew Drive sold for $16.3 mil

The residential property is a 10-minute stroll to Bedok Food Centre and also a five-minute drive to Siglap Community Club, that has retail services, involving a Sheng Siong Supermarket, a McDonald’s restaurant plus an Anytime Fitness work out center. 26 Kew Drive is likewise placed within 1km of Temasek Primary School and Temasek High School.

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The customer subsequently checked out some other landed real estates but could not discover a site that matched their needs. “They wish this plot [at 26 Kew Drive] offered its measurements and redevelopment possibility, along with the truth that it is within walking range of public transport facilities,” he says. The house is a four-minute walking from the Upper East Shore Bus Terminal and no more than a 10-minute walk from the upcoming Bedok South MRT Terminal on the Thomson-East Coastline Line.

Caveats lodged view that the previous high was the revenue of a bungalow on Kew Drive occupying a freehold land area of 11,857 sq ft in December 2017. The property retrieved $10.55 million or $890 psf on the land area. The most recent purchase for a separated home in the vicinity took place on Jan 13, 2022 the second a bungalow on Kew Terrace with an acreage of 4,496 sq ft shifted hands for $3.58 million ($796 psf). Prior to that, a bungalow on Kew Drive with a land area of 8,279 sq ft obtained $6.38 million ($771 psf) on Jan 6, 2022.

A property bungalow along Kew Drive, off Upper East Coast in District 16, has been realized $16.3 million. Based on the freehold 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, agented the sale. In terms of outright price, this is the highest ever for a residence in the Kew estate, states See.

The purchaser of 26 Kew Drive had been searching for a landed property in the place for “quite some time”, says See. They had made an offer for the real estate a year ago at $16 million, yet the prior owner chose not to carry on with the transaction at that cost.

Offered their interest for the location, the purchaser, who is a Singaporean, secured an increased proposal of $16.3 million. See says they plan to take down the occurring residential property as well as build a brand-new one from scratch. Based upon URA’s Master Plan 2019, the site is marked for a landed property development of up to three floors. Located at the end of a dead end, the elevated site suggests the brand-new house would most likely have viewpoints of the neighboring landed estate.

The former homeowners of 26 Kew Drive have actually inhabited the presenting six-bedroom, 6500 sq ft property ever since it was built over three decades back. In March this year, the house was offered through a tender exercise by OrangeTee & Tie with a guide price of $18 million. The tender finalized on April 14 without obtaining a buyer.