Freehold bungalow on Kew Drive sold for $16.3 mil

The previous homeowners of 26 Kew Drive have inhabited the existing six-bedroom, 6500 sq ft real property since it was built over 30 years ago. In March this year, the residence was offered by means of a tender exercise by OrangeTee & Tie with an overview rate of $18 million. The tender closed on April 14 without getting a buyer.

Provided their choice for the location, the customer, that is a Singaporean, generated an increased offer of $16.3 million. See claims they prepare to take apart the presenting property as well as develop a brand-new one from the ground up. Based on URA’s Master Plan 2019, the area is marked for a landed property development of as much as 3 storeys. Found at the end of a cul-de-sac, the elevated spot means the new house would most likely have viewpoints of the neighboring landed estate.

A real estate bungalow along Kew Drive, off Upper East Coast in District 16, has actually been realized $16.3 million. Based on the estate 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, agented the sale. In terms of absolute cost, this is the highest possible ever before for a home in the Kew property, states See.

The real estate is a 10-minute walk to Bedok Food Centre and even a five-minute drive to Siglap Community Club, that has retail store offerings, including a Sheng Siong Supermarket, a McDonald’s diner and even an Anytime Fitness work out center. 26 Kew Drive is likewise located just within 1km of Temasek Primary School together with Temasek High School.

The buyer of 26 Kew Drive had actually been looking for a landed property in the location for “fairly some point”, claims See. They had actually made a proposal for the residence a year earlier at $16 million, yet the past owner chose not to proceed with the transaction at that value.

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Caveats lodged tv show that the former high was the revenue of a bungalow on Kew Drive taking up a freehold acreage of 11,857 sq ft in December 2017. The property brought $10.55 million or $890 psf on the acreage. The most latest deal for a separated home in the location 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). Prior to that, a bungalow on Kew Drive with a land area of 8,279 sq ft brought $6.38 million ($771 psf) on Jan 6, 2022.

The purchaser subsequently checked out other landed properties however could not discover a site that suited their requirements. “They prefer this plot [at 26 Kew Drive] offered its size and even redevelopment potential, as well as the fact that it is in just strolling proximity of public transportation amenities,” he says. 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 Coastline Line.