Freehold bungalow on Kew Drive sold for $16.3 mil

A freehold bungalow near Kew Drive, off Upper East Coast in District 16, has been realized $16.3 million. Based on the freehold land spot of 14,376 sq ft, this figures out to $1,134 psf. Mey Lim and Lawrence See of GCB Collective, a group of bungalow specialists in Huttons Asia, serviced the transaction. In terms of outright price, this is the highest ever before for a home in the Kew assets, says See.

The residential property is a 10-minute walk to Bedok Food Centre and a five-minute drive to Siglap Community Club, that has retail offers, including a Sheng Siong Supermarket, a McDonald’s restaurant and even an Anytime Fitness fitness center. 26 Kew Drive is additionally located within 1km of Temasek Primary School together with Temasek Secondary School.

The purchaser subsequently looked at many other landed properties however can not get a site that matched their demands. “They like this plot [at 26 Kew Drive] offered its measurements and redevelopment opportunity, in addition to the truth that it is inside walking distance of common transport facilities,” he says. The house is a four-minute walk from the Upper East Coastline Bus Terminal and also less than a 10-minute walk from the upcoming Bedok South MRT Station on the Thomson-East Coast Line.

Sky Eden condo

Caveats lodged view that the former high was the deal of a bungalow on Kew Drive taking up a freehold acreage of 11,857 sq ft in December 2017. The property retrieved $10.55 million or $890 psf on the acreage. One of the most recent purchase for a separated 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). Before that, a bungalow on Kew Drive with an acreage of 8,279 sq ft brought $6.38 million ($771 psf) on Jan 6, 2022.

The purchaser of 26 Kew Drive had been looking for a ground property in the place for “quite some point”, says See. They had made a proposal for the real estate a year earlier at $16 million, yet the prior proprietor selected not to carry on with the deal at that value.

The previous homeowners of 26 Kew Drive have occupied the existing six-bedroom, 6500 sq ft real property from it was developed over three decades earlier. In March this year, the house was offered via a tender exercise by OrangeTee & Tie with a guide rate of $18 million. The tender closed on April 14 without finding a buyer.

Offered their preference for the location, the buyer, that is a Singaporean, made a raised proposal of $16.3 million. See claims they prepare to tear down the occurring home as well as construct a brand-new one initially. Based on URA’s Master Plan 2019, the location is marked for a landed innovation of as much as three floors. Found at the end of a dead end, the raised site means the new home would most likely have viewpoints of the bordering landed estate.

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