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

Sentosa Cove bungalows and condominiums have actually seen a resurgence in transaction activity over the last year. The most recent transaction of a bungalow along Sea Drive got on Nov 2 2021, when a waterway-facing home resting on a 10,629 sq ft, 99-year leasehold site modified hands for around $23 million ($2,164 psf).

Rivière Condo Jiak Kim Street

The double-storey bungalow has 4 rooms and 6 bathrooms, with an overall built-up area of 5,252 sq ft. The home has a 99-year leasehold period which started from 2005. A crucial feature of the house is the full-height glass home windows of the living-room on the 2nd level of the house, which supplies an unblocked view of the sea and also the CBD sky line throughout the water.

The home was developed by an individual proprietor that was one of the first to buy a bungalow enhancement site in the North Cove of Sentosa Cove from Sentosa Development Corp. The residential property has improved hands 4 times since then, the current being in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.

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 sitting 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.

A bungalow located along Ocean Drive in the distinctive Sentosa Cove household enclave will be set up for sale by SRI on April 28. The building is a mortgagee sale and has a guide cost of $21 million, which equates to $2,192 psf based upon the building’s land area of 9,580 sq ft.

The master bedroom is located on the first floor and also comes with straight access to an outside patio. 2 additional en suite rooms, in addition to the kitchen area and also dining place, are also found on the very first storey of the house, every one of which open to a courtyard as well as water feature. There is additionally an en suite bedroom located on the 2nd floor.

The bungalow at Ocean Drive that is up for auction lies near F&B outlets as well as 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.

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 deal lodged for the building was in October 2009 when it was sold for $16.9 million ($1,763 psf).

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