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

The revenue of Kew Lodge was brokered by Sakal Real Estate Partners, with the deal marking the property financial investment advisory and also brokerage business’s first collective sale transaction. Rajah and even Tann are the designated legal representative for the owners.

Kew Lodge, a freehold landed property site at Kheam Hock Roadway in District 11, has been offered 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 bid stands for a 5% costs over the site’s guide cost of $63.8 million and figures out to a land rate of about $1,940 psf.

“In land-scarce Singapore we face a relatively limiting fresh supply of fresh landed real estates in contrast to non-landed real estates. We look at possession of prime landed houses as a significant outlet of riches that provides significant funding upside in time. A landed house acquisition nowadays can certainly be a calculated financial investment for future generations,” claims Steven Ming, supervising partner at Sakal Real Estate Partners, that also co-founded the firm in 2018.

Newport Residences condominium

The transactions notes the very first cumulative sale ever since fresh cooling steps came into conclusion on April 27, including enhanced Additional Buyer’s Stamp Duty rates.

Michelle Yong, CEO of Aurum Land, says the purchase will certainly widen the business’s extent right into the landed property sector. “On a private degree, I plan to develop my own family house within this bespoke selection of high-end houses and am thrilled to stretch the exact same possibility to provide bespoke layout programs to satisfy the way of life requirements of our worrying customers,” she puts in. Aurum Land is the property developer behind projects featuring The Hyde on Balmoral Road in District 10 as well as Nyon on Amber Roadway in District 15.

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

Kew Lodge makes up 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 blended landed” location within the URA 2019 Master Plan, the plot can most likely be redeveloped right into a new job making up bungalows, semi-detached houses and/or terrace Houses