Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil
The property was established by an individual owner that was among the first to acquire a bungalow development site in the North Cove of Sentosa Cove from Sentosa Development Corp. The property has actually improved hands four times ever since, the current remaining in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.
The bungalow at Ocean Drive that is up for sale lies near F&B avenues as well as retail offerings at Quayside Isle as well as One Degree 15 Marina Sentosa Cove. It is also just a 10-minute ride to VivoCity and also the CBD.
Sentosa Cove bungalows and condos have seen a resurgence in deal activity over the past year. The latest deal of a bungalow along Ocean Drive got on Nov 2 last year, when a waterway-facing home sitting on a 10,629 sq ft, 99-year leasehold location changed hands for about $23 million ($2,164 psf).
The master bedroom is located on the first floor and features straight access to an exterior patio area. 2 extra en suite bed rooms, together with the kitchen and dining area, are additionally situated on the very first floor of the house, all of which open up to a courtyard and water feature. There is additionally an en suite bed room located on the 2nd floor.
In November 2011, it had actually modified hands for $25 million ($2,610 psf), while in January 2011, it was sold for $24 million ($2,504 psf). The earliest purchase lodged for the building was in October 2009 when it was sold for $16.9 million ($1,763 psf).
The double-storey bungalow has four bedrooms and also six shower rooms, with a complete built-up area of 5,252 sq ft. The residential property has a 99-year leasehold tenure which started from 2005. An essential feature of the house is the full-height glass windows of the living room on the 2nd level of the house, which offers an unblocked sight of the sea and the CBD skyline across the water.
On Jan 12, a bungalow resting on a site of 8,632 sq ft at Treasure Island on Sentosa Cove was sold for $14.3 million ($1,657 psf). Meanwhile, a bungalow at Lakeshore View resting on a land area 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 improved hands for $18.4 million ($2,057 psf) on March 22.
A bungalow situated along Ocean Drive in the premium Sentosa Cove domestic enclave will certainly be put up for auction by SRI on April 28. The property is a mortgagee sale as well as has an overview rate of $21 million, which equates to $2,192 psf based on the property’s land area of 9,580 sq ft.
