Mortgagee sale of sea-facing Sentosa Cove bungalow for $21 mil
The residential property was developed by a private owner who was among the first to purchase a bungalow improvement site in the North Cove of Sentosa Cove from Sentosa Development Corp. The home has changed hands 4 times since then, the latest remaining in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.
The double-storey bungalow has 4 rooms as well as six washrooms, with a total built-up area of 5,252 sq ft. The property has a 99-year leasehold tenure which started from 2005. A key feature of the house is the full-height glass home windows of the living-room on the second level of the house, which provides an unblocked sight of the sea and also the CBD horizon throughout the water.
The master bedroom lies on the initial floor and features straight access to an outside patio. Two extra en suite rooms, in addition to the kitchen and dining area, are likewise situated on the initial floor of the house, every one of which open up to a courtyard as well as water feature. There is also an en suite bedroom located on the second storey.
A bungalow located along Ocean Drive in the distinctive Sentosa Cove residential enclave will certainly be set up for auction by SRI on April 28. The property is a mortgagee sale and also has a guide cost of $21 million, which converts to $2,192 psf based upon the residential property’s land area of 9,580 sq ft.
On Jan 12, a bungalow sitting on a site 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 modified hands for $18.4 million ($2,057 psf) on March 22.
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 purchase lodged for the residential property was in October 2009 when it was sold for $16.9 million ($1,763 psf).
Sentosa Cove bungalows as well as condominiums have seen a resurgence in deal activity over the past year. The current deal of a bungalow along Ocean Drive got on Nov 2 2021, when a waterway-facing residential property resting on a 10,629 sq ft, 99-year leasehold site changed hands for about $23 million ($2,164 psf).
The bungalow at Ocean Drive that is up for sale is located near F&B outlets as well as retail offerings at Quayside Isle as well as One Degree 15 Marina Sentosa Cove. It is also just a 10-minute ride to VivoCity and also the CBD.