Kew Lodge sold for $66.8 mil to Aurum Land in first collective sale since April cooling measures

The transaction of Kew Lodge was agented by Sakal Real Estate Partners, with the offer noting the realty investment advisory and also brokerage firm’s initial cumulative sale transaction. Rajah along with Tann are the designated legal representative for the owners.

Kew Lodge, a freehold landed property place 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 residential property sealed on May 23. Aurum Land’s quote represents a 5% costs over the site’s guide price of $63.8 million and also figures out to a land rate of approximately $1,940 psf.

“In land-scarce Singapore we encounter a fairly limiting new supply of new landed properties as opposed to non-landed real estates. We see possession of prime landed residences as a significant retailer of riches that offers considerable funding upside in time. A landed house acquisition today can certainly be a vital financial investment for future generations,” claims Steven Ming, managing associate at Sakal Real Estate Partners, that also co-founded the business in 2018.

The purchasing of Kew Lodge is hanging authorization of the Strata Titles Board.

Michelle Yong, CEO of Aurum Land, states the acquisition will certainly broaden the business’s extent right into the landed estate market. “On a personal degree, I intend to design my own household residence within this bespoke variety of luxury homes along with am delighted to expand the exact same possibility to deliver bespoke layout programs to fulfill the lifestyle requirements of our worrying customers,” she puts in. Aurum Land is the builder behind projects including The Hyde on Balmoral Roadway in District 10 and Nyon on Amber Road in District 15.

The Botany at Dairy Farm Sim Lian Group

The transaction marks the very first cumulative sale ever since fresh air conditioning solutions came into effect on April 27, including increased Additional Buyer’s Stamp Duty rates.

Kew Lodge consists of 11 townhouses varying from 2,013 sq ft to 2,852 sq ft on a 34,433 sq ft location. Zoned throughout a “Residential/ two-storey combined landed” location following the URA 2019 Master Plan, the plot can possibly be redeveloped into a brand-new project making up bungalows, semi-detached residences and/or terrace Residences

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