Freehold bungalow on Kew Drive sold for $16.3 mil
The buyer of 26 Kew Drive had actually been looking for a landed property in the location for “fairly some time”, states See. They had made an offer for the real estate a year earlier at $16 million, yet the prior proprietor chose not to continue with the transaction at that price.
The past proprietors of 26 Kew Drive have actually dwelled the presenting six-bedroom, 6500 sq ft real property 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 closed up on April 14 without getting a customer.
Given their choice for the location, the buyer, that is a Singaporean, generated an increased proposal of $16.3 million. See states they plan to tear down the occurring residential property and also develop a new one from scratch. Based upon URA’s Master Plan 2019, the location is marked for a landed development of up to 3 storeys. Found at the end of a cul-de-sac, the elevated spot indicates the new house would most likely have views of the surrounding landed estate.
Caveats lodged view that the prior high was the sale of a bungalow on Kew Drive taking up a property land area of 11,857 sq ft in December 2017. The residential property brought $10.55 million or $890 psf on the acreage. One of the most recent deal for a separated 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 switched hands for $3.58 million ($796 psf). Prior to 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 along Kew Drive, off Upper East Coast in District 16, has been sold for $16.3 million. Based upon the property land location of 14,376 sq ft, this works out to $1,134 psf. Mey Lim and Lawrence See of GCB Collective, a team of bungalow professionals in Huttons Asia, serviced the transaction. In terms of outright cost, this is the highest possible ever before for a residence in the Kew estate, mentions See.
The property is a 10-minute stroll to Bedok Food Centre and also a five-minute drive to Siglap Community Club, which has retail offerings, involving a Sheng Siong Supermarket, a McDonald’s diner and even an Anytime Fitness gym. 26 Kew Drive is additionally situated within 1km of Temasek Primary School and Temasek Senior High School.
The customer ultimately checked out many other landed real estates but could not find a place that matched their demands. “They like this plot [at 26 Kew Drive] provided its dimension and redevelopment potential, as well as the truth that it is inside walking range of common transportation facilities,” he says. The house is a four-minute walking from the Upper East Shore Bus Terminal and no more than a 10-minute stroll from the upcoming Bedok South MRT Terminal on the Thomson-East Coastline Line.