Freehold bungalow on Kew Drive sold for $16.3 mil

The customer ultimately took a look at other landed real estates yet can not get a location that suited their requirements. “They prefer this plot [at 26 Kew Drive] offered its size and even redevelopment opportunity, as well as the fact that it is in just walking range of common transportation services,” he says. The house is a four-minute walking from the Upper East Shore Bus Terminal and less than a 10-minute walk from the upcoming Bedok South MRT Station on the Thomson-East Coast Line.

Caveats lodged tv show that the prior high was the deal of a bungalow on Kew Drive inhabiting a freehold acreage of 11,857 sq ft in December 2017. The property brought $10.55 million or $890 psf on the land area. The most current deal for a detached home in the location happened on Jan 13, 2022 when a bungalow on Kew Terrace with a land area 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 fetched $6.38 million ($771 psf) on Jan 6, 2022.

The former homeowners of 26 Kew Drive have actually occupied the existing six-bedroom, 6500 sq ft property ever since it was constructed over thirty years earlier. In March this year, the residence was offered via a tender exercise by OrangeTee & Tie with a guide rate of $18 million. The tender closed up on April 14 without obtaining a customer.

Provided their choice for the site, the purchaser, who is a Singaporean, made an increased deal of $16.3 million. See states they plan to take apart the occurring home and construct a brand-new one from the ground up. Based on URA’s Master Plan 2019, the location is designated for a landed development of approximately three floors. Located at the end of a dead end, the raised site suggests the new residence would certainly have sights of the surrounding landed estate.

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The residential property is a 10-minute walk to Bedok Food Centre and a five-minute drive to Siglap Community Club, which has retail offerings, involving a Sheng Siong Supermarket, a McDonald’s restaurant plus an Anytime Fitness gym. 26 Kew Drive is likewise located just within 1km of Temasek Primary School and Temasek Senior High School.

The customer of 26 Kew Drive had actually been searching for a ground property in the place for “rather some time”, claims See. They had made a deal for the real estate a year earlier at $16 million, however the previous proprietor picked not to proceed with the transaction at that value.

A property bungalow around Kew Drive, off Upper East Coast in District 16, has been sold for $16.3 million. Based on the estate land location of 14,376 sq ft, this calculates to $1,134 psf. Mey Lim as well as Lawrence See of GCB Collective, a team of bungalow specialists in Huttons Asia, brokered the purchase. In regards to outright cost, this is the highest possible ever before for a home in the Kew property, states See.

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