Freehold bungalow on Kew Drive sold for $16.3 mil
Caveats lodged show that the former high was the sale of a bungalow on Kew Drive taking up a freehold land area of 11,857 sq ft in December 2017. The real estate fetched $10.55 million or $890 psf on the acreage. The most current deal for a detached 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). Before that, a bungalow on Kew Drive with an acreage of 8,279 sq ft brought $6.38 million ($771 psf) on Jan 6, 2022.
A freehold bungalow near Kew Drive, off Upper East Coast in District 16, has been realized $16.3 million. Based upon the property land site of 14,376 sq ft, this calculates to $1,134 psf. Mey Lim and also Lawrence See of GCB Collective, a group of bungalow specialists in Huttons Asia, brokered the sale. In terms of outright cost, this is the highest possible ever for a home in the Kew estate, states See.
The buyer consequently looked at some other landed real estates yet can not find a site that matched their demands. “They like this plot [at 26 Kew Drive] given its dimension and even redevelopment opportunity, along with the truth that it is in just strolling distance of common transport features,” he states. The house is a four-minute walk from the Upper East Shore Bus Terminal as well as no more than a 10-minute walk from the upcoming Bedok South MRT Station on the Thomson-East Coastline Line.
The previous homeowners of 26 Kew Drive have occupied the presenting six-bedroom, 6500 sq ft real property ever since it was built over three decades ago. In March this year, the residential property was put up for sale by means of a tender exercise by OrangeTee & Tie with an overview price of $18 million. The tender finalized on April 14 without obtaining a customer.
The residential property is a 10-minute walk to Bedok Food Centre and also a five-minute drive to Siglap Community Club, which has retail industry services, featuring a Sheng Siong Grocery Store, a McDonald’s restaurant plus an Anytime Fitness gym. 26 Kew Drive is additionally located within 1km of Temasek Primary School together with Temasek High School.
Offered their choice for the site, the buyer, who is a Singaporean, secured an increased proposal of $16.3 million. See states they plan to tear down the occurring property and also construct a new one from the ground up. Based upon URA’s Master Plan 2019, the site is designated for a landed innovation of up to 3 floors. Found at the end of a cul-de-sac, the raised site suggests the brand-new home would most likely have viewpoints of the bordering landed estate.
The purchaser of 26 Kew Drive had indeed been searching for a landed real estate in the area for “rather some time”, says See. They had made a deal for the property a year earlier at $16 million, however the prior homeowner picked not to proceed with the deal at that value.
