Freehold bungalow on Kew Drive sold for $16.3 mil

The previous proprietors of 26 Kew Drive have actually inhabited the presenting six-bedroom, 6500 sq ft real estate ever since it was constructed over three decades ago. In March this year, the residential property was put up for sale by means of a tender exercise by OrangeTee & Tie with an overview price of $18 million. The tender closed on April 14 without obtaining a buyer.

Caveats lodged view that the previous high was the revenue of a bungalow on Kew Drive occupying a property acreage of 11,857 sq ft in December 2017. The real estate retrieved $10.55 million or $890 psf on the acreage. One of the most current purchase for a detached 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). 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.

Offered their choice for the site, the purchaser, who is a Singaporean, made a raised offer of $16.3 million. See claims they intend to tear down the existing property as well as construct a brand-new one from scratch. Based upon URA’s Master Plan 2019, the area is designated for a landed property development of approximately three storeys. Situated at the end of a cul-de-sac, the raised spot suggests the new residence would have viewpoints of the surrounding landed estate.

The customer of 26 Kew Drive had indeed been looking for a ground property in the place for “quite some point”, states See. They had made a proposal for the real estate a year earlier at $16 million, however the previous homeowner picked not to carry on with the sale at that cost.

The Arden Bukit Panjang

A property bungalow near Kew Drive, off Upper East Coast in District 16, has been brought $16.3 million. Based on the property land location of 14,376 sq ft, this calculates to $1,134 psf. Mey Lim and also Lawrence See of GCB Collective, a team of bungalow professionals in Huttons Asia, brokered the sale. In regards to absolute cost, this is the highest possible ever for a residence in the Kew estate, says See.

The real estate is a 10-minute stroll to Bedok Food Centre and a five-minute drive to Siglap Community Club, which has retail offerings, including a Sheng Siong Supermarket, a McDonald’s dining establishment plus an Anytime Fitness fitness center. 26 Kew Drive is likewise placed just within 1km of Temasek Primary School together with Temasek Secondary School.

The customer consequently took a look at some other landed residential properties yet could not discover a site that suited their requirements. “They prefer this plot [at 26 Kew Drive] given its size and even redevelopment opportunity, in addition to the truth that it is inside walking range of public transport facilities,” he mentions. The house is a four-minute walk from the Upper East Coastline Bus Terminal as well as less than a 10-minute stroll from the upcoming Bedok South MRT Terminal on the Thomson-East Coastline Line.

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