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.
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.