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

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

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). 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 changed hands for $18.4 million ($2,057 psf) on March 22.

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The master bedroom lies on the initial storey and includes direct accessibility to an exterior patio. Two extra en suite rooms, in addition to the cooking area and also eating place, are likewise situated on the initial storey of the house, every one of which open up to a courtyard as well as water feature. There is likewise an en suite room located on the 2nd storey.

Sentosa Cove bungalows as well as condos have actually seen a renewal in purchase activity over the last year. The latest deal of a bungalow along Ocean Drive got on Nov 2 last year, when a waterway-facing property sitting on a 10,629 sq ft, 99-year leasehold site improved hands for about $23 million ($2,164 psf).

The double-storey bungalow has 4 rooms and also six restrooms, with a total built-up area of 5,252 sq ft. The building has a 99-year leasehold period which began with 2005. An essential function of the house is the full-height glass windows of the living room on the 2nd degree of the house, which provides an unblocked view of the sea and also the CBD horizon throughout the water.

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

The home was created by an individual proprietor that was among the first to buy a bungalow development location in the North Cove of Sentosa Cove from Sentosa Development Corp. The building has modified hands 4 times since then, the latest being in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.

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

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