Kew Lodge sold for $66.8 mil to Aurum Land in first collective sale since April cooling measures
The revenue of Kew Lodge was agented by Sakal Real Estate Partners, with the package noting the property financial investment advisory as well as brokerage business’s initial cumulative sale transaction. Rajah along with Tann are the appointed official rep for the owners.
Michelle Yong, Chief Executive Officer of Aurum Land, says the procurement will expand the company’s range into the landed real estate industry. “On an own degree, I plan to create my own family residence within this custom variety of luxury houses and am delighted to extend the very same possibility to supply bespoke design programs to meet the way of living demands of our worrying purchasers,” she adds. Aurum Land is the builder behind projects featuring The Hyde on Balmoral Roadway in District 10 and Nyon on Amber Road in District 15.
The transaction marks the first cumulative sale since fresh cooling solutions entered into conclusion on April 27, including enhanced Additional Buyer’s Stamp Duty fees.
The purchasing of Kew Lodge is pending approval of the Strata Titles Board.
“In land-scarce Singapore we deal with a fairly limiting fresh source of fresh landed residential properties as opposed to non-landed properties. We look at possession of prime landed residences as a significant retailer of riches that presents considerable funding upside gradually. A landed home acquisition nowadays can certainly be a strategic investment for coming future generations,” states Steven Ming, managing partner at Sakal Real Estate Partners, who in addition co-founded the business in 2018.
Kew Lodge, a freehold landed non commercial site at Kheam Hock Road in District 11, has recently been marketed en bloc to Aurum Land, a branch of Woh Hup, for $66.8 million. The cumulative sale tender for the property finalized on May 23. Aurum Land’s proposal represents a 5% costs over the site’s guide rate of $63.8 million as well as works out to a land price of roughly $1,940 psf.
Kew Lodge makes up 11 townhouses varying between from 2,013 sq ft to 2,852 sq ft on a 34,433 sq ft location. Zoned throughout a “Residential/ two-storey blended landed” location following the URA 2019 Master Plan, the plot can most likely be redeveloped into a new project making up bungalows, semi-detached residences and/or terrace Residences