Freehold bungalow on Kew Drive sold for $16.3 mil
The buyer consequently checked out other landed real estates however can not find a place that matched their demands. “They prefer this plot [at 26 Kew Drive] given its measurements including redevelopment opportunity, as well as the truth that it is within walking distance of common transport facilities,” he states. The house is a four-minute stroll from the Upper East Shore Bus Terminal and no more than a 10-minute stroll from the upcoming Bedok South MRT Station on the Thomson-East Coast Line.
Given their preference for the location, the purchaser, who is a Singaporean, made a raised offer of $16.3 million. See states they intend to take apart the presenting residential property and also build a new one initially. Based upon URA’s Master Plan 2019, the area is assigned for a landed innovation of approximately 3 floors. Situated at the end of a dead end, the elevated spot implies the new home would most likely have views of the bordering landed estate.
Caveats lodged show that the prior high was the revenue of a bungalow on Kew Drive occupying a property land area of 11,857 sq ft in December 2017. The real estate brought $10.55 million or $890 psf on the land area. The most recent deal for a removed home in the vicinity occurred on Jan 13, 2022 the minute a bungalow on Kew Terrace with an acreage 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 obtained $6.38 million ($771 psf) on Jan 6, 2022.
The former proprietors of 26 Kew Drive have actually occupied the existing six-bedroom, 6500 sq ft real property from it was constructed over 30 years back. In March this year, the residence was offered by means of a tender exercise by OrangeTee & Tie with a guide cost of $18 million. The tender closed up on April 14 without getting a buyer.
The buyer of 26 Kew Drive had been searching for a landed real estate in the location for “fairly some point”, states See. They had made a proposal for the residence a year earlier at $16 million, but the past homeowner picked not to proceed with the transaction at that rate.
The property is a 10-minute stroll to Bedok Food Centre and a five-minute drive to Siglap Community Club, that has retail services, featuring a Sheng Siong Supermarket, a McDonald’s restaurant plus an Anytime Fitness gym. 26 Kew Drive is likewise located within 1km of Temasek Primary School and Temasek Senior High School.
A real estate bungalow around Kew Drive, off Upper East Coast in District 16, has actually been cost $16.3 million. Based upon the freehold land location of 14,376 sq ft, this calculates to $1,134 psf. Mey Lim as well as Lawrence See of GCB Collective, a team of bungalow specialists in Huttons Asia, agented the purchase. In regards to outright cost, this is the greatest ever before for a house in the Kew assets, states See.