Kew Lodge up for collective sale at $63.8 mil

Kew Lodge, a freehold landed residential site located along Kheam Hock Road, is up for collective sale by tender for $63.8 million. At $1,853 psf, this asking price is based on the existing site area of 34,333 sq ft. Currently housing 11 maisonettes ranging between 2,013 sq ft to 2,852 sq ft, the potential of this plot lies in its zoned residential use with “two-story mixed land” according to the URA 2019 Master Plan.

This site has the unique potential to be redeveloped into a new project with bungalows, semi-detached houses and/or terraced houses. And with a 62m frontage along Kheam Hock Road and an average depth of 50m, this touted potentiality has appealed to developers and family alike looking to live in a multi-generational setting.

City Developments Limited brings Myst Condo to life, a 16,620 square The Myst metre residential development near Bukit Panjang and Cashew.

Steven Ming, managing partner at Sakal Real Estate Partners, the marketing agent of this site, foresees a strong market for landed homes under the current demand for residential living. By his estimates, “Landed homes’ prices have demonstrated considerable strength over the past five years. Their performance outstrips that of the broader non-landed residential market on the back of very robust demand.”

Kew Lodge is located within 1km of Singapore Chinese Girls’ Primary School and is a less than a 15-minute drive to both the CBD and Orchard Road shopping belt. Recent transactions of a similar nature – a 32,148 sq ft two-story mixed landed site at the junction of Chancery Hill Road and Dyson Road – was bought by Sustained Land for $61.1 million ($1,900 psf).

The tender for Kew Lodge closes on May 23 at 3pm. This is an ideal opportunity for land banking while collecting rental income from the property while it is still in use. For those looking to build a new home, this is a great chance to do so with an established and in-demand setting. With the current market standing and the high demand for landed homes, this could be a great investment for those looking for lucrative returns in the long run.