Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil
The home was established by a private owner that was one of the initial to acquire a bungalow development site in the North Cove of Sentosa Cove from Sentosa Development Corp. The residential property has actually modified hands 4 times since then, the current being in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.
A bungalow situated along Ocean Drive in the distinctive Sentosa Cove household enclave will certainly be set up for sale by SRI on April 28. The home is a mortgagee sale and also has an overview rate of $21 million, which translates to $2,192 psf based upon the residential property’s land area of 9,580 sq ft.
The double-storey bungalow has 4 bedrooms and 6 restrooms, with a complete built-up area of 5,252 sq ft. The property has a 99-year leasehold period which began with 2005. A crucial attribute of the house is the full-height glass home windows of the living-room on the second level of the house, which offers an unblocked sight of the sea and also the CBD sky line throughout the water.
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 only a 10-minute trip to VivoCity as well as the CBD.
On Jan 12, a bungalow sitting on a site of 8,632 sq ft at Treasure Island on Sentosa Cove was sold for $14.3 million ($1,657 psf). Meanwhile, a bungalow at Lakeshore View sitting 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 changed hands for $18.4 million ($2,057 psf) on March 22.
The master bedroom is located on the first floor as well as features direct access to an exterior patio. 2 added en suite rooms, in addition to the kitchen and also dining place, are also situated on the very first storey of the house, all of which open to a courtyard and water feature. There is likewise an en suite bed room situated on the 2nd floor.
Sentosa Cove bungalows and also condos have actually seen a resurgence in transaction activity over the past year. The latest transaction of a bungalow along Ocean Drive got on Nov 2 last year, when a waterway-facing home sitting on a 10,629 sq ft, 99-year leasehold site changed hands for about $23 million ($2,164 psf).
In November 2011, it had actually modified 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).