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

The residential property was developed by a private proprietor who was just one of the first to buy a bungalow improvement location in the North Cove of Sentosa Cove from Sentosa Development Corp. The property has actually changed hands 4 times ever since, the latest being in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.

A bungalow located along Ocean Drive in the distinctive Sentosa Cove residential territory will certainly be set up for sale by SRI on April 28. The home is a mortgagee sale and also has a guide price of $21 million, which converts to $2,192 psf based upon the property’s land area of 9,580 sq ft.

The master bedroom is located on the initial floor as well as comes with direct access to an outdoor patio. 2 added en suite bedrooms, together with the kitchen area as well as eating area, are additionally situated on the very first floor of the house, every one of which open to a courtyard as well as water feature. There is also an en suite bedroom located on the 2nd floor.

In November 2011, it had 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).

On Jan 12, a bungalow resting 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.

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

The double-storey bungalow has four bedrooms and 6 restrooms, with an overall built-up area of 5,252 sq ft. The residential property has a 99-year leasehold period which began with 2005. An essential attribute of the house is the full-height glass windows of the living room on the 2nd degree of the house, which offers an unblocked sight of the sea as well as the CBD horizon throughout the water.

Sentosa Cove bungalows and also condos have seen a renewal in purchase activity over the past year. The most recent transaction of a bungalow along Sea Drive got on Nov 2 last year, when a waterway-facing property resting on a 10,629 sq ft, 99-year leasehold site improved hands for around $23 million ($2,164 psf).

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