Freehold bungalow on Kew Drive sold for $16.3 mil

A freehold bungalow along Kew Drive, off Upper East Coast in District 16, has actually been sold for $16.3 million. Based upon the estate land site of 14,376 sq ft, this works out to $1,134 psf. Mey Lim as well as Lawrence See of GCB Collective, a group of bungalow specialists in Huttons Asia, agented the sale. In regards to outright rate, this is the highest possible ever for a house in the Kew assets, mentions See.

The customer ultimately checked out many other landed real estates but can not discover a place that suited their requirements. “They like this plot [at 26 Kew Drive] offered its dimension including redevelopment possibility, in addition to the reality that it is inside strolling range of public transport amenities,” he mentions. The house is a four-minute walking from the Upper East Coastline Bus Terminal as well as less than a 10-minute stroll from the upcoming Bedok South MRT Terminal on the Thomson-East Coastline Line.

Offered their interest for the spot, the buyer, who is a Singaporean, secured a raised offer of $16.3 million. See says they prepare to take apart the presenting residential property and also establish a new one initially. Based on URA’s Master Plan 2019, the area is designated for a landed innovation of approximately three floors. Found at the end of a dead end, the raised site implies the new home would most likely have sights of the neighboring landed estate.

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 store offers, featuring a Sheng Siong Grocery Store, a McDonald’s dining establishment plus an Anytime Fitness work out center. 26 Kew Drive is additionally placed within 1km of Temasek Primary School and Temasek Secondary School.

Caveats lodged show that the former high was the revenue of a bungalow on Kew Drive taking up an estate land area of 11,857 sq ft in December 2017. The residential property retrieved $10.55 million or $890 psf on the acreage. The most current purchase for a separated home in the vicinity occurred on Jan 13, 2022 when a bungalow on Kew Terrace with an acreage 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 fetched $6.38 million ($771 psf) on Jan 6, 2022.

Midtown Bay price

The past proprietors of 26 Kew Drive have inhabited the existing six-bedroom, 6500 sq ft real estate ever since it was built over three decades ago. In March this year, the residence was offered using a tender exercise by OrangeTee & Tie with a guide cost of $18 million. The tender finalized on April 14 without obtaining a buyer.

The customer of 26 Kew Drive had actually been looking for a landed property in the location for “quite some time”, says See. They had actually made an offer for the residence a year earlier at $16 million, but the previous homeowner selected not to proceed with the sale at that cost.

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