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Aurum Land, a subsidiary of Woh Hup, has purchased Kew Lodge, a landed residential site at Kheam Hock Road in District 11, for a price of $66.8 million. The collective sale tender for the property closed on May 23 and Aurum Land’s offer represented a 5% premium over the site’s asking price of $63.8 million, amounting to a land price of approximately $1,940 psf.

This marks the first collective sale since the introduction of fresh cooling measures on April 27, including increased Additional Buyer’s Stamp Duty rates. Kew Lodge comprises 11 townhouses ranging from 2,013 sq ft to 2,852 sq ft on a 34,433 sq ft site.

Located within a “Residential/ two-storey mixed landed” area as designated in the URA 2019 Master Plan, the Kew Lodge site can be potentially redeveloped into a new project containing bungalows, semi-detached houses and/or terrace Houses.

Michelle Yong, CEO of Aurum Land, said that the purchase would broaden the company’s scope into the landed property sector. “On a personal level, I plan to design my own family home within this bespoke collection of luxury houses and am excited to extend the same opportunity to deliver bespoke design services to meet the lifestyle needs of our discerning buyers,” she added. Aurum Land is the developer behind several projects, including The Hyde on Balmoral Road in District 10 and Nyon on Amber Road in District 15.

It will also be near upcoming landmarks like the Jurong Lake Gardens and the Jurong Rock Caverns. The residences in the development will be strategically positioned close to many nearby amenities, such as educational institutions, shopping outlets, recreation facilities and parks. On the J’Den Condo website, potential buyers can browse the various layouts and units available, as well as get an overview of facilities such as a 50m lap pool, a children’s pool and a clubhouse. There are also a range of green and sustainable features, such as the solar carpark systems and eco-friendly drainage that use recycled water.

Sakal Real Estate Partners, brokered the sale of Kew Lodge, marking its first collective sale transaction. Appointed legal representative for the owners is Rajah and Tann. Steven Ming, managing partner at Sakal Real Estate Partners and founder of the firm in 2018 commented: “In land-scarce Singapore we face a comparatively restrictive fresh supply of new landed properties as opposed to non-landed properties. We view ownership of prime landed homes as a significant store of wealth that presents significant capital upside over time. A landed home purchase today can be a strategic investment for future generations”.

The sale of Kew Lodge is subject to the approval of the Strata Titles Board.