Kew Lodge sold for $66.8 mil to Aurum Land in first collective sale since April cooling measures
Kew Lodge comprises 11 townhouses ranging from 2,013 sq ft to 2,852 sq ft on a 34,433 sq ft area. Zoned inside a “Residential/ two-storey combined landed” location following the URA 2019 Master Plan, the plot can possibly be redeveloped right into a new job making up bungalows, semi-detached homes and/or terrace Homes
The purchasing of Kew Lodge is hanging authorization of the Strata Titles Board.
The transaction notes the initial collective sale since fresh air conditioning steps entered effect on April 27, including enhanced Additional Buyer’s Stamp Duty fees.
Kew Lodge, a freehold landed property place at Kheam Hock Roadway in District 11, has been sold en bloc to Aurum Land, a subsidiary of Woh Hup, for $66.8 million. The collective sale tender for the property finalized on May 23. Aurum Land’s proposal stands for a 5% costs over the site’s guide rate of $63.8 million and figures out to a land rate of approximately $1,940 psf.
The sale of Kew Lodge was agented by Sakal Real Estate Partners, with the package marking the real estate financial investment advisory and also brokerage firm’s initial cumulative sale transaction. Rajah and Tann are the selected lawful representative for the proprietors.
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“In land-scarce Singapore we deal with a fairly restrictive new supply of new landed properties in contrast to non-landed buildings. We see ownership of prime landed residences as a considerable outlet of wealth that offers substantial capital upside gradually. A landed residence acquisition nowadays can be a calculated financial investment for coming future generations,” claims Steven Ming, supervising partner at Sakal Real Estate Partners, who in addition co-founded the firm in 2018.
Michelle Yong, CEO of Aurum Land, states the purchase will widen the firm’s scope right into the landed property sector. “On a private level, I intend to design my very own household house within this unique collection of high-end homes and am delighted to extend the very same possibility to provide bespoke style options to satisfy the way of life requirements of our worrying customers,” she adds. Aurum Land is the builder behind properties including The Hyde on Balmoral Roadway in District 10 and Nyon on Amber Road in District 15.
