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

The transaction of Kew Lodge was agented by Sakal Real Estate Partners, with the deal marking the realty investment advisory and brokerage company’s first cumulative sale transaction. Rajah and even Tann are the designated legal rep for the proprietors.

“In land-scarce Singapore we encounter a relatively selective new supply of fresh landed residential properties in contrast to non-landed properties. We look at ownership of prime landed residences as a substantial retailer of wealth that offers significant capital upside over time. A landed home acquisition nowadays can be a vital investment for coming future generations,” states Steven Ming, managing associate at Sakal Real Estate Partners, that in addition co-founded the business in 2018.

Kew Lodge, a freehold landed residential area at Kheam Hock Road in District 11, has recently been sold en bloc to Aurum Land, a branch of Woh Hup, for $66.8 million. The collective sale tender for the residential property finalized on May 23. Aurum Land’s quote represents a 5% premium over the site’s overview cost of $63.8 million as well as figures out to a land rate of around $1,940 psf.

Sky Eden floor plan

The proceeding notes the first collective sale since fresh air conditioning steps came into conclusion on April 27, consisting of enhanced Additional Buyer’s Stamp Duty rates.

The purchasing of Kew Lodge is hanging approval of the Strata Titles Board.

Michelle Yong, Chief Executive Officer of Aurum Land, states the procurement will certainly expand the business’s extent right into the landed property sector. “On an own level, I plan to create my own family house within this unique variety of high-end residences along with am thrilled to extend the very same possibility to provide bespoke layout programs to satisfy the lifestyle requirements of our discerning customers,” she adds. Aurum Land is the property developer behind ventures involving The Hyde on Balmoral Roadway in District 10 and also Nyon on Amber Roadway in District 15.

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


error: Content is protected !!