Kew Drive freehold property sells for $16.3 million

, ,

Grand Dunman by Singhaiyi

A freehold home located along Kew Drive, located off the Upper East Coast in District 16, was bought at $16.3 million. On the basis of a freehold site with 14,376 square feet that is $1,134 per square foot. Mey Lim, and Lawrence See of GCB Collective, a team of bungalow experts in Huttons Asia, brokered the deal. In terms of the absolute value it is the highest ever for a house within Kew. Kew estate, claims See.

Grand Dunman by Singhaiyi Group submitted the winning bid of $1.284 billion, equivalent to $1,350 per square feet per plot ratio (psf ppr).

Caveats filed show that the previous highest was the purchase of a bungalow located on Kew Drive occupying a freehold with an area of 11,857 sq feet in December of 2017. The property was sold for $10.55 million or $890 per square foot in the land area. The most recent sale for a detached house in the area occurred on January 13 2022, when a bungalow located on Kew Terrace with a land area of 4,496 sq feet was sold to the value of $3.58 million ($796 per square foot). Before this, a bungalow situated in Kew Drive with a land area of 8,279 square feet sold for $6.38 million ($771 per square foot) on January 6 2022.

The prior residents of the 26 Kew Drive have occupied the current six-bedroom, 6500 square feet property since it was constructed more than three decades ago. In March of this year the property was listed for sale through an auction exercise conducted by OrangeTee & Tie with a estimate at $18 million. The tender ended on April 14 and did not find an interested buyer.

The purchaser who purchased the property at the 26 Kew Drive had been searching for a land-based property in the vicinity for “quite an extended period of time” according to See. They had offered for the property one year ago for $16 million, however the previous owner did not want to pursue the sale at the same price.

The buyer then considered other land properties but was unable to locate an site which met their needs. “They love this property located at 26 Kew Drive] given its size and redevelopment possibilities and the fact that it’s near transportation facilities,” he says. The property is just a 4-minute walk away from the Upper East Coast Bus Terminal and less than a 10 minute walk from the soon-to-open Bedok South MRT Station on the Thomson-East Coast Line.

In order to get their preferred site the buyer who is Singaporean who is a Singaporean, offered an additional price that was $16.3 million. See the listing states that they intend to tear down the current property and build a brand new one completely from the ground up. Based on the URA’s Master Plan 2019, the site is slated for the development of a land-based property that can be three or more stories. It is situated at the end an cul-de-sac and elevated site will mean that the new residence will be able to see the landsland estate that surrounds it.

The property is located a short walk from Bedok Food Centre and a five-minute drive to Siglap Community Club located in Siglap Community Club, which offers retail services, such as an Sheng Siong Supermarket and an McDonald’s restaurant, and the Anytime Fitness gym. The 26 Kew Drive is also within a distance of 1km from Temasek Primary School as well as Temasek Secondary School.

1 reply

Comments are closed.