Freehold bungalow on Kew Drive sold for $16.3 mil
The customer of 26 Kew Drive had indeed been searching for a landed property in the area for “fairly some point”, states See. They had made a deal for the real estate a year ago at $16 million, however the previous owner picked not to continue with the sale at that rate.
Caveats lodged tv show that the previous high was the deal of a bungalow on Kew Drive inhabiting an estate acreage of 11,857 sq ft in December 2017. The real estate fetched $10.55 million or $890 psf on the land area. One of the most recent deal for a removed home in the vicinity took place 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). Prior to that, a bungalow on Kew Drive with a land area of 8,279 sq ft obtained $6.38 million ($771 psf) on Jan 6, 2022.
The past homeowners of 26 Kew Drive have inhabited the presenting six-bedroom, 6500 sq ft property since it was developed over thirty years ago. In March this year, the residence was put up for sale by means of a tender exercise by OrangeTee & Tie with an overview rate of $18 million. The tender closed on April 14 without getting a purchaser.
The purchaser consequently checked out some other landed residential properties however could not discover a site that suited their requirements. “They prefer this plot [at 26 Kew Drive] given its size including redevelopment possibility, as well as the truth that it is within walking proximity of common transportation amenities,” he claims. The house is a four-minute walking from the Upper East Coast Bus Terminal and less than a 10-minute stroll from the upcoming Bedok South MRT Station on the Thomson-East Coast Line.
A property bungalow near Kew Drive, off Upper East Coast in District 16, has actually been realized $16.3 million. Based on the estate 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, serviced the transaction. In terms of absolute cost, this is the highest possible ever for a home in the Kew assets, mentions See.
Given their choice for the spot, the buyer, that is a Singaporean, secured an increased deal of $16.3 million. See claims they prepare to take apart the existing residential property and develop a new one from the ground up. Based on URA’s Master Plan 2019, the location is marked for a landed development of up to 3 floors. Located at the end of a dead end, the elevated site suggests the brand-new house would certainly have sights of the bordering landed estate.
The property is a 10-minute stroll to Bedok Food Centre and also a five-minute drive to Siglap Community Club, that has retail store services, including a Sheng Siong Grocery Store, a McDonald’s restaurant and an Anytime Fitness fitness center. 26 Kew Drive is likewise situated within 1km of Temasek Primary School together with Temasek Senior High School.
