Kew Lodge sold for $66.8 mil to Aurum Land in first collective sale since April cooling measures

Kew Lodge, a freehold landed non commercial place at Kheam Hock Roadway in District 11, has been sold en bloc to Aurum Land, a branch of Woh Hup, for $66.8 million. The collective sale tender for the property finalized on May 23. Aurum Land’s proposal stands for a 5% costs over the location’s guide price of $63.8 million and also figures out to a land rate of around $1,940 psf.

The transaction marks the initial cumulative sale since fresh air conditioning solutions entered into effect on April 27, including raised Additional Buyer’s Stamp Duty prices.

The purchasing of Kew Lodge is pending authorization of the Strata Titles Board.

“In land-scarce Singapore we deal with a fairly restrictive new supply of brand new landed residential properties in contrast to non-landed residences. We see ownership of prime landed residences as a significant store of wealth that offers substantial resources upside in time. A landed house purchase these days can be a vital investment for future generations,” states Steven Ming, managing partner at Sakal Real Estate Partners, who in addition co-founded the company in 2018.

Kew Lodge consists of 11 townhouses varying between from 2,013 sq ft to 2,852 sq ft on a 34,433 sq ft site. Zoned within a “Residential/ two-storey combined landed” area within the URA 2019 Master Plan, the plot can potentially be redeveloped right into a new project comprising bungalows, semi-detached houses and/or terrace Houses

The Arden condo price

Michelle Yong, CEO of Aurum Land, says the acquisition will widen the business’s range into the landed estate industry. “On an own level, I intend to develop my very own family house within this custom variety of high-end residences and even am delighted to stretch the same possibility to supply bespoke style services to fulfill the way of life demands of our discerning buyers,” she adds. Aurum Land is the developer behind properties including The Hyde on Balmoral Roadway in District 10 and also Nyon on Amber Road in District 15.

The revenue of Kew Lodge was brokered by Sakal Real Estate Partners, with the deal marking the property financial investment advisory as well as brokerage business’s first cumulative sale purchase. Rajah and Tann are the designated legal rep for the proprietors.

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