Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil
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). On the other hand, a bungalow at Lakeshore View sitting on a land area 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 modified hands for $18.4 million ($2,057 psf) on March 22.
The master bedroom lies on the very first storey and also comes with direct accessibility to an outside patio. 2 extra en suite rooms, together with the cooking area as well as eating area, are additionally situated on the first floor of the house, every one of which open up to a yard and water feature. There is additionally an en suite bedroom situated on the 2nd floor.
A bungalow situated along Ocean Drive in the exclusive Sentosa Cove domestic enclave will be put up for auction by SRI on April 28. The residential property is a mortgagee sale as well as has a guide price of $21 million, which equates to $2,192 psf based on the residential property’s land area of 9,580 sq ft.
The bungalow at Ocean Drive that is up for auction lies near F&B avenues as well as retail offerings at Quayside Isle and also One Degree 15 Marina Sentosa Cove. It is also just a 10-minute drive to VivoCity as well as the CBD.
In November 2011, it had modified hands for $25 million ($2,610 psf), while in January 2011, it was sold for $24 million ($2,504 psf). The earliest purchase lodged for the property was in October 2009 when it was sold for $16.9 million ($1,763 psf).
The double-storey bungalow has four rooms as well as six restrooms, with a complete built-up area of 5,252 sq ft. The home has a 99-year leasehold period which started from 2005. A vital attribute of the house is the full-height glass windows of the living room on the 2nd level of the house, which uses an unblocked sight of the sea and also the CBD skyline throughout the water.
The property was developed by an individual owner who was among the first to acquire a bungalow advancement location in the North Cove of Sentosa Cove from Sentosa Development Corp. The residential property has actually improved hands 4 times ever since, the most recent being in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.
Sentosa Cove bungalows and condominiums have seen a return in deal activity over the past year. The most recent purchase of a bungalow along Ocean Drive was on Nov 2 last year, when a waterway-facing building sitting on a 10,629 sq ft, 99-year leasehold location improved hands for about $23 million ($2,164 psf).