Freehold bungalow on Kew Drive sold for $16.3 mil
A real estate bungalow near Kew Drive, off Upper East Coast in District 16, has actually been brought $16.3 million. Based upon the estate land location of 14,376 sq ft, this figures out to $1,134 psf. Mey Lim and Lawrence See of GCB Collective, a group of bungalow professionals in Huttons Asia, serviced the sale. In terms of outright rate, this is the greatest ever for a residence in the Kew estate, says See.
Given their preference for the location, the purchaser, who is a Singaporean, generated a raised deal of $16.3 million. See claims they plan to take down the occurring residential property and build a brand-new one from the ground up. Based upon URA’s Master Plan 2019, the site is marked for a landed development of up to 3 storeys. Located at the end of a cul-de-sac, the elevated site means the new home would have sights of the bordering landed estate.
The buyer consequently checked out some other landed real estates however could not discover a site that suited their needs. “They wish this plot [at 26 Kew Drive] provided its dimension including redevelopment opportunity, along with the fact that it is inside strolling distance of common transport services,” he says. The house is a four-minute stroll from the Upper East Coastline Bus Terminal and less than a 10-minute walk from the upcoming Bedok South MRT Terminal on the Thomson-East Coastline Line.
The real estate is a 10-minute walk to Bedok Food Centre and a five-minute drive to Siglap Community Club, which has retail industry offerings, including a Sheng Siong Supermarket, a McDonald’s diner and an Anytime Fitness work out center. 26 Kew Drive is likewise situated just within 1km of Temasek Primary School together with Temasek High School.
The past homeowners of 26 Kew Drive have inhabited the existing six-bedroom, 6500 sq ft real property from it was developed over 30 years back. In March this year, the residence was put up for sale through a tender exercise by OrangeTee & Tie with an overview cost of $18 million. The tender closed on April 14 without finding a purchaser.
Caveats lodged tv show that the former high was the revenue of a bungalow on Kew Drive taking up a property acreage 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 recent transaction for a separated home in the area occurred on Jan 13, 2022 when a bungalow on Kew Terrace with a land area of 4,496 sq ft changed hands for $3.58 million ($796 psf). Before that, a bungalow on Kew Drive with a land area of 8,279 sq ft brought $6.38 million ($771 psf) on Jan 6, 2022.
The customer of 26 Kew Drive had actually been looking for a ground property in the area for “quite some point”, says See. They had actually made a proposal for the residence a year back at $16 million, however the past owner picked not to proceed with the sale at that rate.