Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil
The double-storey bungalow has 4 rooms and also 6 shower rooms, with a total built-up area of 5,252 sq ft. The property has a 99-year leasehold period which started from 2005. A key function of the house is the full-height glass windows of the living-room on the second level of the house, which provides an unblocked sight of the sea and the CBD sky line throughout the water.
The bungalow at Ocean Drive that is up for auction is located near F&B outlets and retail offerings at Quayside Isle and also One Degree 15 Marina Sentosa Cove. It is also just a 10-minute trip to VivoCity as well as the CBD.
A bungalow located along Ocean Drive in the premium Sentosa Cove household territory will certainly be installed for auction by SRI on April 28. The building is a mortgagee sale as well as has an overview price of $21 million, which converts to $2,192 psf based upon the building’s land area of 9,580 sq ft.
On Jan 12, a bungalow sitting on a site of 8,632 sq ft at Treasure Island on Sentosa Cove was sold for $14.3 million ($1,657 psf). At the same time, a bungalow at Lakeshore View sitting on a land area of 7,888 sq ft was sold for $17.6 million ($2,231 psf) on Feb 9. Most recently, a bungalow at Cove Way in the South Cove sitting on a land area of 8,944 sq ft modified hands for $18.4 million ($2,057 psf) on March 22.
The master bedroom is located on the initial floor as well as includes direct accessibility to an outside patio area. 2 extra en suite bedrooms, together with the kitchen as well as dining place, are also situated on the first storey of the house, all of which available to a courtyard and water feature. There is also an en suite bedroom located on the second storey.
In November 2011, it had modified hands for $25 million ($2,610 psf), while in January 2011, it was sold for $24 million ($2,504 psf). The earliest transaction lodged for the property was in October 2009 when it was sold for $16.9 million ($1,763 psf).
The building was developed by a private owner that was just one of the very first to acquire a bungalow advancement location in the North Cove of Sentosa Cove from Sentosa Development Corp. The building has improved hands 4 times since then, the most recent being in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.
Sentosa Cove bungalows and condominiums have actually seen a rebound in purchase activity over the past year. The most up to date deal of a bungalow along Sea Drive was on Nov 2 last year, when a waterway-facing building resting on a 10,629 sq ft, 99-year leasehold location improved hands for about $23 million ($2,164 psf).