Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil

A bungalow situated along Ocean Drive in the premium Sentosa Cove residential territory will be installed for sale by SRI on April 28. The building is a mortgagee sale as well as has a guide cost of $21 million, which equates to $2,192 psf based on the residential property’s land area of 9,580 sq ft.

In November 2011, it had changed hands for $25 million ($2,610 psf), while in January 2011, it was sold for $24 million ($2,504 psf). The earliest transaction lodged for the home was in October 2009 when it was sold for $16.9 million ($1,763 psf).

The bungalow at Ocean Drive that is up for auction lies near F&B outlets and retail offerings at Quayside Isle and also One Degree 15 Marina Sentosa Cove. It is also just a 10-minute trip to VivoCity as well as the CBD.

The residential property was established by a private owner that was one of the first to purchase a bungalow improvement location in the North Cove of Sentosa Cove from Sentosa Development Corp. The residential property has modified hands four times since then, the current remaining in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.

Midtown Bay condo

The double-storey bungalow has 4 rooms and 6 restrooms, with a total built-up area of 5,252 sq ft. The home has a 99-year leasehold tenure which began with 2005. An essential attribute of the house is the full-height glass windows of the living-room on the 2nd level of the house, which uses an unblocked view of the sea and also the CBD sky line across the water.

The master bedroom lies on the initial floor and also comes with direct accessibility to an exterior patio. 2 extra en suite rooms, along with the kitchen area as well as dining place, are also found on the first floor of the house, every one of which open to a yard as well as water feature. There is additionally an en suite room situated on the second storey.

Sentosa Cove bungalows and also condominiums have seen a renewal in deal activity over the past year. The most recent purchase of a bungalow along Ocean Drive was on Nov 2 2021, when a waterway-facing property sitting on a 10,629 sq ft, 99-year leasehold site modified hands for around $23 million ($2,164 psf).

On Jan 12, a bungalow sitting on an area of 8,632 sq ft at Treasure Island on Sentosa Cove was sold for $14.3 million ($1,657 psf). At the same time, a bungalow at Lakeshore View resting on an acreage of 7,888 sq ft was sold for $17.6 million ($2,231 psf) on Feb 9. Most recently, a bungalow at Cove Way in the South Cove sitting on a land area of 8,944 sq ft changed hands for $18.4 million ($2,057 psf) on March 22.

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