FOR IMMEDIATE RELEASE

Kew Lodge – Freehold landed residential redevelopment site along Kheam Hock Road for collective sale by tender

26th April, 2023

Kew Lodge, a freehold landed residential redevelopment site along Kheam Hock Road is up for collective sale by tender with an indicative price S$63.8 million, says marketing agent Sakal Real Estate Partners (“Sakal”).

Nestled within private landed residential enclave, the existing development comprises of 11 maisonettes ranging from 2,013 sq ft to 2,852 sq ft. on a 34,433 sq ft site. It has a prominent 62 metre frontage along Kheam Hock Road and average depth of 50 metre.

Zoned within a “Residential/ 2-storey mixed landed” area under the URA 2019 Master Plan, the plot can potentially be redeveloped into a new project comprising bungalows, semi-detached houses and/ or Terrace Houses.

“Besides developers seeking to develop a luxury landed housing development with a combination of bungalows, semi-detached houses and/ or terrace houses, we believe this site would also appeal to families looking to build a new home for multi-generational living or extended families living together.” Says Lennon Koh, director at Sakal. He adds, “It would also be an ideal land banking opportunity, whilst collecting rental income from the existing properties in the interim.”

“Landed homes prices have demonstrated considerable strength over the past 5 years. Its performance outstripping that of the broader non-landed residential market on the back of very robust demand. Landed residential continues to be the epitome of residential living desired by many Singaporeans.” Says Steven Ming, managing partner at Sakal.
Kew Lodge is within 1km from Singapore Chinese Girls Primary School and is less than 15-minute drive to both the Central Business District and Orchard Road shopping belt.

The asking price of S$63.8 million translates to S$1,853 psf based on the existing site area. Recently, a 32,148 sqft “2-storey mixed landed” site at the junction of Chancery Hill Road/ Dyson Road was transacted for S$61.08m/ S$1,900psf.

Sakal anticipates keen interest in the tender given its attribute, favourable location, and strong demand for landed homes in Singapore. The tender will close on 23 May 2023 (Tuesday) at 3pm.