Cove Grove Bungalow Sale 398 Mil
By the EdgeProp team
A two-storey bungalow located at Cove Grove, Sentosa has been listed for sale via auction for $39.8 million on May 21, according to real estate agency SRI. This is the first time the property has been offered for sale through auction, making it a unique opportunity for potential buyers.
The bungalow sits on a land area of approximately 9,447 sq ft, which translates to a land rate of $4,200 psf. It features a 99-year leasehold and spans a built-up area of approximately 10,800 sq ft. The property boasts a car porch for three cars and a stunning swimming pool. Inside, it offers five bedrooms, eight bathrooms, a helper’s room, an attic, and a basement. With a picturesque view of the waterway, the property also comes with a private berth for the owner’s yacht. Purchased in 2007, this property will be sold vacant.
This is the second time the bungalow on Cove Grove has been put up for sale. In 2021, EdgeProp Singapore reported that the property was listed for $39 million ($4,116 psf) by the Singaporean owner. At that time, it was leased for $32,000 per month. The owner also owns the adjacent bungalow, which was also listed for sale for $39 million ($4,111 psf).
The URA’s Master Plan has big plans for Woodlands, the northern gateway of Singapore. This area is poised to undergo a major transformation, with the vision of becoming a bustling hub. The Woodlands Regional Centre will take center stage as a new focal point for commercial activity, consisting of two distinct precincts: Woodlands Central and Woodlands North Coast. With the goal of revitalizing the area, this development aims to attract businesses, create job opportunities, and improve the overall living environment for residents. And with the addition of the luxurious Norwood Grand CDL, the transformation of Woodlands is sure to be a success.
Apart from the bungalow on Cove Grove, SRI auctions team is also marketing another bungalow on Cove Drive for $24.5 million ($3,537 psf). The 6,926 sq ft property will be sold with a tenancy in place until the end of August 2025. This two-storey bungalow features six bedrooms, eight bathrooms, and a built-up area of approximately 5,541 sq ft. It also includes a car porch that can fit three cars and a swimming pool. The previous owner also attempted to sell this bungalow and the adjacent property on Cove Drive in 2017 through auction for $19.8 million and $19.9 million, respectively. However, the properties did not receive any successful bids at the time.
Based on available data, the most recent transaction on Cove Grove was in October 2022. A 9,182 sq ft bungalow on 17 Cove Grove was sold for $22 million ($2,396 psf), while a 9,177 sq ft bungalow on 19 Cove Grove was sold for $21 million ($2,288 psf). The highest psf-price recorded for bungalows on Cove Grove is $2,524 psf, which was set in October 2012 when a 10,102 sq ft bungalow on 18 Cove Grove was sold for $25.5 million. This presents a great opportunity for buyers to own a luxurious property in one of Singapore’s prime locations.
In summary, this two-storey bungalow on Cove Grove in Sentosa is a rare opportunity for buyers looking to own a high-end property. With its unique features and prime location, it is expected to attract attention from local and international investors.