Kew Lodge sold for $66.8 mil to Aurum Land in first collective sale since April cooling measures

Michelle Yong, CEO of Aurum Land, claims the procurement will certainly expand the firm’s range into the landed property industry. “On a private degree, I prepare to make my very own household residence within this bespoke collection of high-end houses and even am thrilled to expand the same possibility to provide bespoke design programs to meet the way of living demands of our worrying purchasers,” she includes. Aurum Land is the builder behind ventures involving The Hyde on Balmoral Road in District 10 and Nyon on Amber Road in District 15.

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Kew Lodge, a freehold landed residential place at Kheam Hock Road in District 11, has recently been sold en bloc to Aurum Land, a subsidiary of Woh Hup, for $66.8 million. The collective sale tender for the residential property closed on May 23. Aurum Land’s proposal stands for a 5% costs over the location’s guide price of $63.8 million and also figures out to a land price of about $1,940 psf.

Kew Lodge makes up 11 townhouses varying from 2,013 sq ft to 2,852 sq ft on a 34,433 sq ft site. Zoned within a “Residential/ two-storey blended landed” location within the URA 2019 Master Plan, the plot can possibly be redeveloped right into a new job making up bungalows, semi-detached homes and/or balcony Homes

The proceeding notes the first cumulative sale since fresh air conditioning measures entered conclusion on April 27, including increased Additional Buyer’s Stamp Duty rates.

The purchasing of Kew Lodge is pending authorization of the Strata Titles Board.

The transaction of Kew Lodge was brokered by Sakal Real Estate Partners, with the offer noting the real estate financial investment advisory as well as brokerage firm’s first collective sale purchase. Rajah and Tann are the designated lawful rep for the owners.

“In land-scarce Singapore we face a fairly limiting new supply of brand new landed real estates instead of non-landed residences. We view ownership of prime landed homes as a significant retailer of riches that offers considerable resources upside over time. A landed home purchase nowadays can certainly be a calculated investment for future generations,” says Steven Ming, managing partner at Sakal Real Estate Partners, that also co-founded the firm in 2018.

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