Freehold bungalow on Kew Drive sold for $16.3 mil

A property bungalow along Kew Drive, off Upper East Coast in District 16, has been brought $16.3 million. Based on the estate land location of 14,376 sq ft, this works out to $1,134 psf. Mey Lim and also Lawrence See of GCB Collective, a group of bungalow professionals in Huttons Asia, serviced the transaction. In regards to outright price, this is the highest possible ever for a home in the Kew estate, says See.

Caveats lodged view that the previous high was the deal of a bungalow on Kew Drive occupying an estate acreage of 11,857 sq ft in December 2017. The property retrieved $10.55 million or $890 psf on the acreage. The most current transaction for a separated home in the vicinity took place on Jan 13, 2022 when 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 a land area of 8,279 sq ft fetched $6.38 million ($771 psf) on Jan 6, 2022.

The property is a 10-minute walk to Bedok Food Centre and a five-minute drive to Siglap Community Club, which has retail services, involving a Sheng Siong Supermarket, a McDonald’s dining establishment and an Anytime Fitness work out center. 26 Kew Drive is likewise placed just within 1km of Temasek Primary School and Temasek High School.

The purchaser subsequently looked at many other landed residential properties however could not get a site that suited their needs. “They wish this plot [at 26 Kew Drive] given its measurements and even redevelopment potential, in addition to the fact that it is in just strolling range of public transport services,” he states. The house is a four-minute walk from the Upper East Coastline Bus Terminal and also less than a 10-minute stroll from the upcoming Bedok South MRT Station on the Thomson-East Coast Line.

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The former owners of 26 Kew Drive have inhabited the presenting six-bedroom, 6500 sq ft real estate from it was constructed over 30 years back. In March this year, the residential property was put up for sale through 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 customer of 26 Kew Drive had indeed been searching for a landed real estate in the area for “rather some point”, states See. They had actually made a proposal for the residence a year earlier at $16 million, however the prior owner picked not to carry on with the sale at that cost.

Offered their interest for the spot, the purchaser, that is a Singaporean, generated a raised deal of $16.3 million. See states they plan to take apart the presenting residential property and construct a new one from the ground up. Based on URA’s Master Plan 2019, the location is assigned for a landed innovation of approximately 3 storeys. Located at the end of a dead end, the raised spot implies the new home would most likely have views of the surrounding landed estate.

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