Freehold bungalow on Kew Drive sold for $16.3 mil

The residential property is a 10-minute stroll to Bedok Food Centre and a five-minute drive to Siglap Community Club, which has retail industry offers, featuring a Sheng Siong Supermarket, a McDonald’s diner plus an Anytime Fitness work out center. 26 Kew Drive is likewise situated just within 1km of Temasek Primary School together with Temasek Senior High School.

The buyer ultimately looked at many other landed properties however can not find a location that matched their demands. “They prefer this plot [at 26 Kew Drive] offered its measurements including redevelopment potential, in addition to the fact that it is inside walking distance of common transport facilities,” he mentions. The house is a four-minute walking from the Upper East Coastline Bus Terminal as well as no more than a 10-minute stroll from the upcoming Bedok South MRT Terminal on the Thomson-East Coast Line.

Tembusu Grand floor plan

The customer of 26 Kew Drive had indeed been looking for a landed property in the area for “quite some point”, says See. They had actually made a proposal for the property a year ago at $16 million, yet the prior proprietor selected not to carry on with the deal at that price.

A real estate bungalow around Kew Drive, off Upper East Coast in District 16, has actually been cost $16.3 million. Based on the property land spot of 14,376 sq ft, this works out to $1,134 psf. Mey Lim and Lawrence See of GCB Collective, a group of bungalow specialists in Huttons Asia, agented the purchase. In terms of absolute rate, this is the highest ever for a home in the Kew assets, states See.

Given their interest for the site, the customer, that is a Singaporean, secured a raised offer of $16.3 million. See says they intend to tear down the presenting residential property as well as build a new one from the ground up. Based on URA’s Master Plan 2019, the site is designated for a landed development of up to 3 floors. Situated at the end of a cul-de-sac, the elevated location implies the new home would have views of the surrounding landed estate.

Caveats lodged show that the prior high was the revenue of a bungalow on Kew Drive taking up an estate acreage of 11,857 sq ft in December 2017. The property fetched $10.55 million or $890 psf on the land area. The most recent purchase for a removed home in the vicinity occurred on Jan 13, 2022 the second a bungalow on Kew Terrace with a land area of 4,496 sq ft shifted hands for $3.58 million ($796 psf). Prior to that, a bungalow on Kew Drive with an acreage of 8,279 sq ft obtained $6.38 million ($771 psf) on Jan 6, 2022.

The previous owners of 26 Kew Drive have actually occupied the existing six-bedroom, 6500 sq ft property from it was constructed over thirty years back. In March this year, the house was offered via a tender exercise by OrangeTee & Tie with an overview price of $18 million. The tender closed on April 14 without obtaining a purchaser.

error: Content is protected !!