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

A bungalow situated along Ocean Drive in the distinctive Sentosa Cove domestic enclave will be put up for sale by SRI on April 28. The residential property is a mortgagee sale as well as has a guide cost of $21 million, which translates to $2,192 psf based on the property’s land area of 9,580 sq ft.

In November 2011, it had changed 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 property was in October 2009 when it was sold for $16.9 million ($1,763 psf).

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

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The double-storey bungalow has 4 bedrooms and six washrooms, with a total built-up area of 5,252 sq ft. The home has a 99-year leasehold period which started from 2005. A crucial function of the house is the full-height glass windows of the living-room on the second level of the house, which provides an unblocked sight of the sea and also the CBD sky line across the water.

Sentosa Cove bungalows and also condominiums have actually seen a rebound in transaction activity over the past year. The current deal of a bungalow along Ocean Drive was on Nov 2 last year, when a waterway-facing property resting on a 10,629 sq ft, 99-year leasehold site improved hands for about $23 million ($2,164 psf).

The residential property was developed by an individual proprietor who was one of the first to acquire a bungalow enhancement location in the North Cove of Sentosa Cove from Sentosa Development Corp. The building has actually changed hands four times ever since, the most up to date remaining in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.

On Jan 12, a bungalow resting on an area 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 resting on an acreage 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 first storey and comes with direct accessibility to an outdoor patio. Two additional en suite bed rooms, together with the kitchen area and dining place, are additionally located on the first floor of the house, all of which open up to a yard and also water feature. There is also an en suite bed room located on the second floor.

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