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.

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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).

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