Freehold bungalow on Kew Drive sold for $16.3 mil
The buyer ultimately looked at other landed properties however can not discover a location that matched their needs. “They prefer this plot [at 26 Kew Drive] provided its dimension and even redevelopment potential, in addition to the truth that it is within strolling range of common transportation features,” he mentions. The house is a four-minute walking from the Upper East Coast Bus Terminal as well as no more than a 10-minute stroll from the upcoming Bedok South MRT Terminal on the Thomson-East Coastline Line.
The former homeowners of 26 Kew Drive have actually inhabited the presenting six-bedroom, 6500 sq ft property from it was built over three decades back. In March this year, the residential property was offered using a tender exercise by OrangeTee & Tie with a guide price of $18 million. The tender finalized on April 14 without getting a purchaser.
Provided their preference for the spot, the buyer, that is a Singaporean, secured an increased deal of $16.3 million. See says they prepare to take apart the presenting home and also construct a new one from the ground up. Based upon URA’s Master Plan 2019, the area is assigned for a landed development of as much as 3 storeys. Situated at the end of a dead end, the raised site suggests the brand-new home would have sights of the bordering landed estate.
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 residential property fetched $10.55 million or $890 psf on the land area. One of the most latest transaction for a separated home in the location occurred on Jan 13, 2022 the minute a bungalow on Kew Terrace with an acreage of 4,496 sq ft changed 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.
A real estate bungalow along Kew Drive, off Upper East Coast in District 16, has been realized $16.3 million. Based upon the estate land location of 14,376 sq ft, this figures out to $1,134 psf. Mey Lim and also Lawrence See of GCB Collective, a group of bungalow specialists in Huttons Asia, agented the transaction. In regards to outright cost, this is the greatest ever for a home in the Kew property, mentions See.
The customer of 26 Kew Drive had been looking for a ground property in the area for “fairly some time”, claims See. They had made a deal for the property a year earlier at $16 million, however the prior owner chose not to proceed with the deal at that value.
The property is a 10-minute stroll to Bedok Food Centre and even a five-minute drive to Siglap Community Club, which has retail industry offerings, featuring a Sheng Siong Grocery Store, a McDonald’s diner plus an Anytime Fitness gym. 26 Kew Drive is additionally located inside of 1km of Temasek Primary School together with Temasek Secondary School.