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

Easy access to public transport, such as MRT and bus services, make The Myst condo very accessible as well. There are several shopping malls, convenience stores, and restaurants located within walking distance. The prestigious The Myst condo is also close to schools, making it an excellent choice for those with school-going children. Furthermore, the condominium provides many various facilities for the residents to enjoy such as a gym, swimming pool, entertainment pavilion, BBQ pits and many more. With these features, The Myst condo is definitely a sought-after residence!

Aurum Land has purchased Kew Lodge in District 11, a freehold landed residential site, for $66.8 million. The acquisition marks the first collective sale since fresh cooling measures were introduced. Aurum Land believes this purchase allows them to broaden their scope into the landed property sector and they plan to design their own family home within the luxury houses. A 5% premium was paid over the site’s guide price of $63.8 million, equating to a land price of approximately $1,940 psf. This marks Sakal Real Estate Partners’ first collective sale transaction.

Aurum Land has purchased Kew Lodge, a 34,433 sq ft freehold landed residential site in District 11 of Singapore. Representing a 5% premium over the guide price of $63.8 million, the purchase price of $66.8 million equates to a land price of approximately $1,940 psf. This collective sale was brokered by Sakal Real Estate Partners, marking their first collective sale transaction.

Map and overview of Kew Lodge (Source: EdgeProp LandLens)

This marks the first collective sale since fresh cooling measures were implemented in April this year. The plot can potentially be redeveloped into a new project comprising bungalows, semi-detached houses, and/or terrace houses. It comprised 11 townhouses ranging from 2,013 sq ft to 2,852 sq ft.

The sale of Kew Lodge is pending approval of the Strata Titles Board.

Michelle Yong, CEO of Aurum Land, believes this acquisition will broaden the company’s scope into the landed property sector and offers an opportunity to design and deliver bespoke design services to meet the lifestyle needs of discerning buyers.

Managing Partner at Sakal Real Estate Partners Steven Ming comments on the purchase. He believes the ownership of prime landed homes presents significant capital upside over time and can act as a strategic investment for future generations.

In land-scarce Singapore there is a comparatively restricted supply of new landed properties as opposed to non-landed properties. This sale is a reminder of how attractive landed homes are to buyers, regardless of the present cooling measures.