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

Michelle Yong, Chief Executive Officer of Aurum Land, states the acquisition will certainly widen the firm’s range into the landed property sector. “On an own degree, I prepare to make my own household residence within this bespoke selection of deluxe houses along with am delighted to extend the same chance to deliver bespoke style programs to meet the way of living demands of our discerning buyers,” she includes. Aurum Land is the builder behind properties featuring The Hyde on Balmoral Road in District 10 as well as Nyon on Amber Roadway in District 15.

Kew Lodge comprises 11 townhouses varying from 2,013 sq ft to 2,852 sq ft on a 34,433 sq ft site. Zoned throughout a “Residential/ two-storey combined landed” location under the URA 2019 Master Plan, the plot can potentially be redeveloped into a new project comprising bungalows, semi-detached residences and/or balcony Homes

“In land-scarce Singapore we face a fairly restrictive new supply of fresh landed real estates as opposed to non-landed properties. We view possession of prime landed residences as a significant outlet of riches that provides substantial capital upside in time. A landed house purchase these days can be a vital investment for coming future generations,” states Steven Ming, supervising partner at Sakal Real Estate Partners, who in addition co-founded the firm in 2018.

The transaction of Kew Lodge was brokered by Sakal Real Estate Partners, with the deal marking the realty financial investment advisory as well as brokerage company’s initial cumulative sale purchase. Rajah along with Tann are the selected lawful agent for the owners.

The sale of Kew Lodge is pending authorization of the Strata Titles Board.

Kew Lodge, a freehold landed non commercial area at Kheam Hock Roadway in District 11, has been marketed en bloc to Aurum Land, a branch of Woh Hup, for $66.8 million. The cumulative sale tender for the residential property closed on May 23. Aurum Land’s quote stands for a 5% costs over the site’s overview cost of $63.8 million and works out to a land cost of approximately $1,940 psf.

North Gaia North Gaia EC

The transaction marks the first cumulative sale ever since fresh cooling solutions entered into effect on April 27, consisting of increased Additional Buyer’s Stamp Duty prices.

error: Content is protected !!