Kew Lodge up for collective sale at $63.8 mil
By Jennifer Venkat
/ EdgeProp Singapore |
Located along Kheam Hock Road, the existing development on the site comprises 11 maisonettes ranging from 2,013 sq ft to 2,852 sq ft. (Photo: Sakal)
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SINGAPORE (EDGEPROP) - Kew Lodge, a freehold landed residential site, is up for collective sale by tender for $63.8 million. The asking price translates to $1,853 psf based on the existing site area, according to marketing agent Sakal Real Estate Partners.
Located along Kheam Hock Road, the existing development on the site comprises 11 maisonettes ranging from 2,013 sq ft to 2,852 sq ft. The total land area of the site is 34,333 sq ft. It has a 62m frontage along Kheam Hock Road and an average depth of 50m.
Map and overview of Kew Lodge (Source: EdgeProp LandLens)
Zoned for “residential/two-storey mixed land” use under the URA 2019 Master Plan, the plot has the potential to be redeveloped into a new project comprising bungalows, semi-detached houses and/or terraced houses.
Lennon Koh, director at Sakal, believes that in addition to garnering interest from developers, the site would also appeal to families looking to build a new home for multi-generational or extended family living. “It would also be an ideal land banking opportunity, whilst collecting rental income from the existing properties in the interim,” he adds.
Recent transactions of homes on Kew Lodge (Source: EdgeProp Research tool)
“Landed homes' prices have demonstrated considerable strength over the past five years. Their performance outstrips that of the broader non-landed residential market on the back of very robust demand. Landed residential continues to be the epitome of residential living desired by many Singaporeans,” says Steven Ming, managing partner at Sakal.
Kew Lodge is within 1km of Singapore Chinese Girls' Primary School. It is also a less than a 15-minute drive to both the CBD and Orchard Road shopping belt.
Recently, a 32,148 sq ft, two-storey mixed landed site at the junction of Chancery Hill Road and Dyson Road, located about 10-minutes’ drive from Kew Lodge, was purchased by Sustained Land for $61.1 million ($1,900 psf).
The tender for Kew Lodge will close on May 23 at 3pm.
Check out the latest listings near Kew Lodge, Chancery Hill, Dyson Road, Singapore Chinese Girls' Primary School
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