Freehold bungalow on Kew Drive sold for $16.3 mil
26 Kew Drive (Picture: GCB Collective)
SINGAPORE (EDGEPROP) - A freehold bungalow along Kew Drive, off Upper East Coast in District 16, has been sold for $16.3 million. Based on the freehold land site of 14,376 sq ft, this works out to $1,134 psf. Mey Lim and Lawrence See of GCB Collective, a team of bungalow specialists in Huttons Asia, brokered the sale. In terms of absolute price, this is the highest ever for a house in the Kew estate, says See.
Caveats lodged show that the previous high was the sale of a bungalow on Kew Drive occupying a freehold land area of 11,857 sq ft in December 2017. The property fetched $10.55 million or $890 psf on the land area. The most recent transaction for a detached home in the vicinity occurred on Jan 13, 2022 when a bungalow on Kew Terrace with a land area of 4,496 sq ft changed hands for $3.58 million ($796 psf). Prior to that, a bungalow on Kew Drive with a land area of 8,279 sq ft fetched $6.38 million ($771 psf) on Jan 6, 2022.
Map and overview of 26 Kew Drive (Source: EdgeProp LandLens)
The previous owners of 26 Kew Drive have occupied the existing six-bedroom, 6500 sq ft property since it was built over 30 years ago. In March this year, the house was put up for sale via a tender exercise by OrangeTee & Tie with a guide price of $18 million. The tender closed on April 14 without finding a buyer.
The buyer of 26 Kew Drive had been searching for a landed property in the area for “quite some time”, says See. They had made an offer for the property a year ago at $16 million, but the previous owner chose not to proceed with the sale at that price.
A view of the compound (Picture: GCB Collective)
The buyer subsequently looked at other landed properties but could not find a site that suited their requirements. “They like this plot [at 26 Kew Drive] given its size and redevelopment potential, as well as the fact that it is within walking distance of public transport amenities,” he says. The house is a four-minute walk from the Upper East Coast Bus Terminal and less than a 10-minute walk from the upcoming Bedok South MRT Station on the Thomson-East Coast Line.
Given their preference for the site, the buyer, who is a Singaporean, made an increased offer of $16.3 million. See says they plan to tear down the existing home and build a new one from scratch. Based on URA’s Master Plan 2019, the site is designated for a landed development of up to three storeys. Located at the end of a cul-de-sac, the elevated site means the new home would have views of the surrounding landed estate.
Recent transactions for landed property on Kew Drive. The most recent transaction for a detached home on Kew Drive occurred in January when a bungalow with a land area of 8,279 sq ft changed hands for $6.38 million ($771 psf) (Source: EdgeProp LandLens)
The property is a 10-minute walk 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 restaurant and an Anytime Fitness gym. 26 Kew Drive is also located within 1km of Temasek Primary School and Temasek Secondary School.
Check out the latest listings near Kew Drive, Bedok South MRT Station, Temasek Primary School, Temasek Secondary School
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