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

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.

The double-storey bungalow has 4 bedrooms and 6 shower rooms, with an overall built-up area of 5,252 sq ft. The residential property has a 99-year leasehold tenure which began with 2005. A crucial attribute of the house is the full-height glass windows of the living-room on the second level of the house, which uses an unblocked sight of the sea and also the CBD skyline throughout the water.

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

A bungalow situated along Ocean Drive in the exclusive Sentosa Cove property enclave will be put up for auction by SRI on April 28. The home is a mortgagee sale and has a guide rate of $21 million, which converts to $2,192 psf based upon the building’s land area of 9,580 sq ft.

The residential property was established by an individual owner that was among the first to purchase a bungalow advancement site in the North Cove of Sentosa Cove from Sentosa Development Corp. The building has changed hands four times ever since, the most recent being in September 2016, when it was sold for $28 million ($2,923 psf), according to caveats lodged.

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 property was in October 2009 when it was sold for $16.9 million ($1,763 psf).

The M Condo floor plan

The master bedroom is located on the first floor as well as features direct access to an outdoor patio. Two extra en suite bed rooms, along with the kitchen area and also dining area, are likewise found on the first storey of the house, all of which available to a courtyard as well as water feature. There is additionally an en suite bed room located on the second storey.

Sentosa Cove bungalows and condos have seen a renewal in transaction activity over the last year. The current purchase of a bungalow along Sea Drive was on Nov 2 2021, when a waterway-facing property resting on a 10,629 sq ft, 99-year leasehold location improved hands for around $23 million ($2,164 psf).

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