Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil
A bungalow situated along Ocean Drive in the distinctive Sentosa Cove household territory will be set up for auction by SRI on April 28. The building is a mortgagee sale as well as has an overview price of $21 million, which equates to $2,192 psf based on the building’s land area of 9,580 sq ft.
Sentosa Cove bungalows as well as condominiums have seen a renewal in deal activity over the last year. The latest purchase of a bungalow along Ocean Drive was on Nov 2 2021, when a waterway-facing residential property sitting on a 10,629 sq ft, 99-year leasehold site improved hands for about $23 million ($2,164 psf).
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 resting 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 improved hands for $18.4 million ($2,057 psf) on March 22.
The master bedroom is located on the initial storey and features straight access to an outdoor patio. Two additional en suite rooms, together with the cooking area and dining area, are also located on the first floor of the house, all of which available to a yard as well as water feature. There is also an en suite bed room situated on the second storey.
The bungalow at Ocean Drive that is up for bargain lies near F&B outlets and also retail offerings at Quayside Isle as well as One Degree 15 Marina Sentosa Cove. It is also only a 10-minute trip to VivoCity and the CBD.
The residential property was created by an individual proprietor who was among the initial to buy a bungalow development site in the North Cove of Sentosa Cove from Sentosa Development Corp. The home has changed hands four times ever since, the most recent being in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.
In November 2011, it had actually 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 home was in October 2009 when it was sold for $16.9 million ($1,763 psf).
The double-storey bungalow has 4 bedrooms and 6 restrooms, with a complete built-up area of 5,252 sq ft. The building has a 99-year leasehold period which started from 2005. An essential attribute of the house is the full-height glass windows of the living room on the second degree of the house, which supplies an unblocked view of the sea as well as the CBD horizon across the water.