Freehold bungalow on Kew Drive sold for $16.3 mil

The real estate is a 10-minute walk to Bedok Food Centre and also a five-minute drive to Siglap Community Club, that has retail services, featuring a Sheng Siong Supermarket, a McDonald’s diner and even an Anytime Fitness gym. 26 Kew Drive is also located inside of 1km of Temasek Primary School together with Temasek Senior High School.

Caveats lodged view that the former high was the sale of a bungalow on Kew Drive inhabiting a freehold land area of 11,857 sq ft in December 2017. The real estate fetched $10.55 million or $890 psf on the acreage. One of the most latest transaction for a removed home in the vicinity happened on Jan 13, 2022 the minute 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 an acreage of 8,279 sq ft obtained $6.38 million ($771 psf) on Jan 6, 2022.

The purchaser subsequently looked at some other landed properties yet can not discover a site that suited their needs. “They like this plot [at 26 Kew Drive] provided its size and redevelopment potential, along with the reality that it is inside walking proximity of common transport services,” he mentions. The house is a four-minute walking from the Upper East Coastline Bus Terminal and also no more than a 10-minute stroll from the upcoming Bedok South MRT Station on the Thomson-East Coast Line.

Offered their interest for the location, the customer, who is a Singaporean, made an increased proposal of $16.3 million. See claims they intend to tear down the existing home as well as build a brand-new one initially. Based upon URA’s Master Plan 2019, the site is marked for a landed innovation of as much as 3 floors. Situated at the end of a cul-de-sac, the raised spot suggests the new house would most likely have viewpoints of the neighboring landed estate.

TMW Maxwell condo price

A property bungalow along Kew Drive, off Upper East Coast in District 16, has actually been brought $16.3 million. Based on the property land spot 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, brokered the purchase. In regards to outright cost, this is the greatest ever before for a home in the Kew estate, says See.

The buyer of 26 Kew Drive had indeed been searching for a landed property in the area for “rather some time”, states See. They had actually made a deal for the property a year ago at $16 million, but the past proprietor selected not to proceed with the deal at that value.

The past proprietors of 26 Kew Drive have actually inhabited the existing six-bedroom, 6500 sq ft real estate since it was developed over thirty years earlier. In March this year, the house was offered via a tender exercise by OrangeTee & Tie with a guide rate of $18 million. The tender finalized on April 14 without getting a buyer.

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