Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil
A bungalow located along Ocean Drive in the exclusive Sentosa Cove property territory will be put up for sale by SRI on April 28. The property is a mortgagee sale and also has a guide cost of $21 million, which converts to $2,192 psf based on the residential property’s land area of 9,580 sq ft.
In November 2011, it had changed hands for $25 million ($2,610 psf), while in January 2011, it was sold for $24 million ($2,504 psf). The earliest deal lodged for the home was in October 2009 when it was sold for $16.9 million ($1,763 psf).
The bungalow at Ocean Drive that is up for bargain is located near F&B outlets and retail offerings at Quayside Isle as well as One Degree 15 Marina Sentosa Cove. It is also only a 10-minute drive to VivoCity as well as the CBD.
The master bedroom lies on the initial storey and also features straight accessibility to an outdoor patio. 2 extra en suite rooms, in addition to the cooking area and dining area, are likewise located on the first floor of the house, all of which open to a courtyard and also water feature. There is additionally an en suite bed room situated on the 2nd floor.
The double-storey bungalow has 4 bedrooms and six restrooms, with a complete built-up area of 5,252 sq ft. The residential property has a 99-year leasehold period which began with 2005. A crucial attribute of the house is the full-height glass windows of the living room on the 2nd degree of the house, which uses an unblocked view of the sea as well as the CBD skyline throughout the water.
The residential property was established by a private owner who was one of the first to acquire a bungalow advancement site in the North Cove of Sentosa Cove from Sentosa Development Corp. The home has actually modified hands four times since then, the most up to date being in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.
On Jan 12, a bungalow resting on a site of 8,632 sq ft at Treasure Island on Sentosa Cove was sold for $14.3 million ($1,657 psf). At the same time, 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 improved hands for $18.4 million ($2,057 psf) on March 22.
Sentosa Cove bungalows and condominiums have seen a return in purchase activity over the past year. The current purchase of a bungalow along Sea Drive was on Nov 2 last year, when a waterway-facing building sitting on a 10,629 sq ft, 99-year leasehold site changed hands for about $23 million ($2,164 psf).