Freehold bungalow on Kew Drive sold for $16.3 mil
The property is a 10-minute walk to Bedok Food Centre and even a five-minute drive to Siglap Community Club, that has retail industry services, including a Sheng Siong Supermarket, a McDonald’s dining establishment and even an Anytime Fitness work out center. 26 Kew Drive is also situated just within 1km of Temasek Primary School also Temasek High School.
Caveats lodged tv show that the prior high was the deal of a bungalow on Kew Drive inhabiting a property land area of 11,857 sq ft in December 2017. The real estate retrieved $10.55 million or $890 psf on the acreage. The most recent deal for a removed home in the location occurred 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 an acreage of 8,279 sq ft brought $6.38 million ($771 psf) on Jan 6, 2022.
The buyer consequently took a look at some other landed residential properties however can not discover a place that matched their needs. “They prefer this plot [at 26 Kew Drive] provided its measurements and even redevelopment opportunity, along with the reality that it is within walking proximity of common transportation services,” he claims. The house is a four-minute walking from the Upper East Coastline Bus Terminal and less than a 10-minute walk from the upcoming Bedok South MRT Station on the Thomson-East Coastline Line.
A real estate bungalow near Kew Drive, off Upper East Coast in District 16, has actually been realized $16.3 million. Based upon the freehold land site of 14,376 sq ft, this works out to $1,134 psf. Mey Lim and also Lawrence See of GCB Collective, a team of bungalow specialists in Huttons Asia, brokered the sale. In terms of absolute price, this is the highest possible ever for a home in the Kew assets, says See.
The purchaser of 26 Kew Drive had indeed been looking for a ground property in the area for “quite some point”, states See. They had made a proposal for the property a year earlier at $16 million, but the previous owner chose not to proceed with the sale at that rate.
Given their interest for the location, the purchaser, who is a Singaporean, secured a raised offer of $16.3 million. See says they prepare to take apart the occurring property as well as develop a new one from the ground up. Based on URA’s Master Plan 2019, the site is assigned for a landed development of as much as 3 floors. Found at the end of a dead end, the elevated location indicates the brand-new home would certainly have viewpoints of the neighboring landed estate.
The past homeowners of 26 Kew Drive have actually occupied the presenting six-bedroom, 6500 sq ft real property from it was constructed over three decades back. In March this year, the residence was put up for sale via a tender exercise by OrangeTee & Tie with a guide rate of $18 million. The tender closed on April 14 without getting a buyer.