Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil

Sentosa Cove bungalows and also condominiums have seen a rebound in transaction activity over the last year. The latest purchase of a bungalow along Sea Drive was on Nov 2 2021, when a waterway-facing building resting on a 10,629 sq ft, 99-year leasehold site modified hands for about $23 million ($2,164 psf).

A bungalow located along Ocean Drive in the premium Sentosa Cove domestic enclave will be set up for auction by SRI on April 28. The building is a mortgagee sale and has an overview price of $21 million, which converts to $2,192 psf based upon the home’s land area of 9,580 sq ft.

The master bedroom is located on the very first floor and also comes with direct access to an exterior patio. 2 extra en suite bed rooms, along with the kitchen and dining area, are likewise situated on the very first floor of the house, every one of which open to a courtyard and also water feature. There is also an en suite bedroom situated on the second storey.

On Jan 12, a bungalow sitting on an area 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 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 residential property was developed by an individual owner that was among the initial to purchase a bungalow advancement site in the North Cove of Sentosa Cove from Sentosa Development Corp. The home has improved hands four times ever since, the current being in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.

The Commodore JBE Holdings

The bungalow at Ocean Drive that is up for bargain is located near F&B avenues and also retail offerings at Quayside Isle and One Degree 15 Marina Sentosa Cove. It is also just a 10-minute drive to VivoCity and also the CBD.

In November 2011, it had improved hands for $25 million ($2,610 psf), while in January 2011, it was sold for $24 million ($2,504 psf). The earliest transaction lodged for the residential property was in October 2009 when it was sold for $16.9 million ($1,763 psf).

The double-storey bungalow has 4 bedrooms and 6 shower rooms, with a total built-up area of 5,252 sq ft. The property has a 99-year leasehold tenure which started from 2005. A crucial feature of the house is the full-height glass windows of the living-room on the second degree of the house, which offers an unblocked sight of the sea and the CBD sky line across the water.

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