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

Kew Lodge consists of 11 townhouses ranging from 2,013 sq ft to 2,852 sq ft on a 34,433 sq ft location. Zoned within a “Residential/ two-storey mixed landed” location within the URA 2019 Master Plan, the plot can potentially be redeveloped into a new job consisting of bungalows, semi-detached residences and/or balcony Residences

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

The proceeding notes the initial cumulative sale since fresh cooling solutions came into conclusion on April 27, consisting of increased Additional Buyer’s Stamp Duty prices.

Michelle Yong, CEO of Aurum Land, says the purchase will broaden the company’s range right into the landed estate field. “On a personal degree, I plan to develop my own household home within this unique variety of luxury houses and even am excited to expand the very same opportunity to supply bespoke design services to satisfy the lifestyle requirements of our worrying purchasers,” she includes. Aurum Land is the property developer behind ventures involving The Hyde on Balmoral Roadway in District 10 and also Nyon on Amber Roadway in District 15.

The Hill @ One North condo

“In land-scarce Singapore we face a relatively selective fresh source of brand new landed properties instead of non-landed buildings. We see ownership of prime landed houses as a significant outlet of wealth that offers considerable resources upside gradually. A landed home acquisition these days can certainly be a strategic investment for coming future generations,” says Steven Ming, managing partner at Sakal Real Estate Partners, that also co-founded the company in 2018.

The revenue of Kew Lodge was brokered by Sakal Real Estate Partners, with the package noting the property financial investment advisory and brokerage company’s first collective sale deal. Rajah and Tann are the selected lawful agent for the proprietors.

Kew Lodge, a freehold landed property site at Kheam Hock Road in District 11, has 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 proposal represents a 5% costs over the location’s guide price of $63.8 million and also works out to a land rate of around $1,940 psf.

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