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

Michelle Yong, Chief Executive Officer of Aurum Land, states the purchase will certainly widen the company’s extent into the landed estate sector. “On a personal degree, I prepare to develop my very own family house within this bespoke selection of luxury houses and even am excited to extend the very same chance to supply bespoke layout programs to fulfill the way of life demands of our worrying purchasers,” she puts in. Aurum Land is the property developer behind ventures featuring The Hyde on Balmoral Roadway in District 10 and also Nyon on Amber Road in District 15.

The purchasing of Kew Lodge is pending approval of the Strata Titles Board.

“In land-scarce Singapore we encounter a relatively limiting new supply of new landed residential properties as opposed to non-landed residences. We view possession of prime landed residences as a significant retailer of riches that offers significant funding upside in time. A landed home purchase nowadays can be a vital financial investment for coming future generations,” says Steven Ming, managing partner at Sakal Real Estate Partners, who in addition co-founded the business in 2018.

The transactions notes the initial collective sale from fresh cooling steps entered effect on April 27, consisting of increased Additional Buyer’s Stamp Duty fees.

The revenue of Kew Lodge was brokered by Sakal Real Estate Partners, with the offer marking the realty financial investment advisory and also brokerage firm’s very first cumulative sale deal. Rajah along with Tann are the selected official agent for the owners.

Pinetree Hill condominium

Kew Lodge, a freehold landed residential place at Kheam Hock Roadway in District 11, has recently been marketed en bloc to Aurum Land, a subsidiary of Woh Hup, for $66.8 million. The collective sale tender for the residential property sealed on May 23. Aurum Land’s quote stands for a 5% costs over the site’s guide rate of $63.8 million and also figures out to a land cost of roughly $1,940 psf.

Kew Lodge makes up 11 townhouses ranging from 2,013 sq ft to 2,852 sq ft on a 34,433 sq ft site. Zoned within a “Residential/ two-storey combined landed” location under the URA 2019 Master Plan, the plot can most likely be redeveloped right into a new job comprising bungalows, semi-detached residences and/or terrace Houses

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