Freehold bungalow on Kew Drive sold for $16.3 mil
The real estate is a 10-minute stroll to Bedok Food Centre and also a five-minute drive to Siglap Community Club, which has retail offerings, involving a Sheng Siong Supermarket, a McDonald’s diner and even an Anytime Fitness work out center. 26 Kew Drive is likewise located within 1km of Temasek Primary School also Temasek Senior High School.
The former proprietors of 26 Kew Drive have dwelled the existing six-bedroom, 6500 sq ft property ever since it was built over 30 years back. In March this year, the residential property was put up for sale using a tender exercise by OrangeTee & Tie with a guide rate of $18 million. The tender closed up on April 14 without getting a buyer.
Provided their preference for the location, the customer, who is a Singaporean, secured an increased proposal of $16.3 million. See states they prepare to take down the existing property and establish a brand-new one initially. Based on URA’s Master Plan 2019, the site is designated for a landed development of up to three storeys. Located at the end of a dead end, the raised site indicates the brand-new house would have viewpoints of the bordering landed estate.
Caveats lodged tv show that the prior 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 latest deal for a separated home in the vicinity took place on Jan 13, 2022 the second a bungalow on Kew Terrace with a land area of 4,496 sq ft changed hands for $3.58 million ($796 psf). Prior to 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.
A property bungalow around Kew Drive, off Upper East Coast in District 16, has actually been realized $16.3 million. Based upon the property 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 team of bungalow specialists in Huttons Asia, brokered the sale. In terms of absolute price, this is the highest possible ever for a home in the Kew estate, says See.
The customer of 26 Kew Drive had actually been looking for a landed real estate in the area for “quite some point”, says See. They had made an offer for the residence a year earlier at $16 million, but the past owner picked not to carry on with the deal at that price.
The purchaser ultimately checked out other landed real estates yet can not get a site that fit their requirements. “They like this plot [at 26 Kew Drive] offered its dimension and even redevelopment potential, in addition to the fact that it is in just strolling distance of common transport services,” he claims. The house is a four-minute stroll from the Upper East Coast Bus Terminal as well as no more than a 10-minute walk from the upcoming Bedok South MRT Terminal on the Thomson-East Coastline Line.