Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil

Sentosa Cove bungalows as well as condominiums have seen a return in deal activity over the last year. The latest transaction of a bungalow along Ocean Drive got on Nov 2 last year, when a waterway-facing residential property sitting on a 10,629 sq ft, 99-year leasehold site modified hands for about $23 million ($2,164 psf).

The bungalow at Ocean Drive that is up for auction lies near F&B avenues as well as retail offerings at Quayside Isle and also One Degree 15 Marina Sentosa Cove. It is also only a 10-minute drive to VivoCity as well as the CBD.

A bungalow situated along Ocean Drive in the premium Sentosa Cove domestic enclave will be set up for auction by SRI on April 28. The building is a mortgagee sale as well as has an overview price of $21 million, which translates to $2,192 psf based on the property’s land area of 9,580 sq ft.

On Jan 12, a bungalow sitting on an area 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 resting on an acreage 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 changed hands for $18.4 million ($2,057 psf) on March 22.

In November 2011, it had actually improved hands for $25 million ($2,610 psf), while in January 2011, it was sold for $24 million ($2,504 psf). The earliest deal lodged for the home was in October 2009 when it was sold for $16.9 million ($1,763 psf).

The master bedroom is located on the first storey as well as includes direct accessibility to an outdoor patio area. 2 extra en suite bed rooms, together with the cooking area and eating area, are likewise found on the first floor of the house, every one of which open up to a yard and water feature. There is also an en suite bedroom situated on the 2nd floor.

The Atelier floor plan

The building was created by a private owner that was just one of the initial to purchase a bungalow development location in the North Cove of Sentosa Cove from Sentosa Development Corp. The residential property has improved hands 4 times since then, the latest remaining in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.

The double-storey bungalow has 4 bedrooms and 6 washrooms, with an overall built-up area of 5,252 sq ft. The building has a 99-year leasehold period which began with 2005. A vital attribute of the house is the full-height glass windows of the living room on the second level of the house, which uses an unblocked sight of the sea and the CBD horizon throughout the water.

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