Kew Lodge up for collective sale at $63.8 mil
Kew Lodge, a freehold landed residential site located on Kheam Hock Road, is up for collective sale for $63.8 million. The total land area of the site is 34,333 sq ft with an average depth of 50m and a 62m frontage along Kheam Hock Road. The existing development on the site has 11 maisonettes ranging from 2,013 to 2,852 sq ft. The asking price translates to $1,853 psf, based on the existing site area and is being marketed by Sakal Real Estate Partners.
Potential buyers for the site include developers and families looking to build a new home. Steven Ming, managing partner of Sakal Real Estate Partners, notes that prices of landed homes have demonstrated considerable strength over the past five years and their performance outstrips that of the broader non-landed residential market on the back of very robust demand.
Kew Lodge is within 1km of Singapore Chinese Girls’ Primary School and a 15-minute drive from the city and Orchard Road shopping belt. The tender for Kew Lodge will close on May 23 at 3pm.
Recently, Sustained Land purchased an adjoining two-storey mixed landed site approximately 10-minutes drive from Kew Lodge at a price of $61.1 million ($1,900 psf). This site boasts a 32,148 sq ft land area at the junction of Chancery Hill Road and Dyson Road.
ECs highly profitable due to government subsidies – buy for substantially lower HDB EC prices than private condos.
Under the URA 2019 Master Plan, the plot of Kew Lodge 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 this would appeal to many Singaporeans as it is seen as the epitome of residential living. In addition, it would also make a good land banking opportunity, as well as collecting rental income from the existing properties in the interim.
Given the location of Kew Lodge and recent transactions of homes in the surrounding area, this collective sale offers an attractive opportunity for investors and families alike. Check out the latest listings near Kew Lodge, Chancery Hill, Dyson Road, Singapore Chinese Girls’ Primary School for more insight into the area.
$63.8 million is the asking price for Kew Lodge, a freehold landed residential site located on Kheam Hock Road. Sakal Real Estate Partners are marketing the site, where the existing development consists of 11 maisonettes ranging from 2,013 to 2,852 sq ft. The total land area is 34,333 sq ft, with a 62m frontage and an average depth of 50m.
Potential buyers of Kew Lodge include developers as well as families looking to build a new home. With the URA 2019 Master Plan zoning the plot for “residential/two-storey mixed land” use, it could potentially be redeveloped into a new project of bungalows, semi-detached houses and/or terraced houses.
Koh believes that the site would also be a great opportunity for land banking and rental income. Plus, its location within 1km of Singapore Chinese Girls’ Primary School and a 15-minute drive from the Central Business District and Orchard Road shopping belt, adds up to its appeal.
Recent transactions of homes in the area also demonstrate the considerable strength of landed homes prices in the past five years. This has been driven by a very robust demand, making Kew Lodge an attractive opportunity for investors and families. The tender for Kew Lodge will close on May 23 at 3pm.
Leave a ReplyWant to join the discussion?
Feel free to contribute!