Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil
A bungalow situated along Ocean Drive in the distinctive Sentosa Cove domestic enclave will be put up for auction by SRI on April 28. The home is a mortgagee sale and has an overview rate of $21 million, which converts to $2,192 psf based on the property’s land area of 9,580 sq ft.
Sentosa Cove bungalows and condos have seen a renewal in transaction activity over the previous year. The latest deal of a bungalow along Sea Drive got on Nov 2 last year, when a waterway-facing residential property resting on a 10,629 sq ft, 99-year leasehold location changed hands for around $23 million ($2,164 psf).
The bungalow at Ocean Drive that is up for auction lies near F&B outlets and also retail offerings at Quayside Isle and One Degree 15 Marina Sentosa Cove. It is also just a 10-minute trip to VivoCity and the CBD.
The double-storey bungalow has 4 bedrooms and 6 washrooms, with a total built-up area of 5,252 sq ft. The residential property has a 99-year leasehold period which started from 2005. A crucial feature of the house is the full-height glass home windows of the living room on the second degree of the house, which provides an unblocked sight of the sea and also the CBD horizon across the water.
The master bedroom is located on the first storey and comes with straight accessibility to an exterior patio. Two additional en suite bedrooms, along with the kitchen area and also eating place, are likewise situated on the very first storey of the house, every one of which open to a courtyard and water feature. There is additionally an en suite bed room located on the second storey.
The property was created by a private proprietor who was just one of the initial to acquire a bungalow development location in the North Cove of Sentosa Cove from Sentosa Development Corp. The building has actually improved hands four times since then, the most up to date remaining in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.
On Jan 12, a bungalow resting on a site of 8,632 sq ft at Treasure Island on Sentosa Cove was sold for $14.3 million ($1,657 psf). At the same time, a bungalow at Lakeshore View resting on an acreage of 7,888 sq ft was sold for $17.6 million ($2,231 psf) on Feb 9. Most recently, a bungalow at Cove Way in the South Cove sitting on a land area of 8,944 sq ft modified hands for $18.4 million ($2,057 psf) on March 22.
In November 2011, it had changed hands for $25 million ($2,610 psf), while in January 2011, it was sold for $24 million ($2,504 psf). The earliest transaction lodged for the building was in October 2009 when it was sold for $16.9 million ($1,763 psf).