Kew Lodge, a freehold landed residential site at Kheam Hock Road in District 11, has been sold en bloc to Aurum Land, a subsidiary of Woh Hup, for $66.8 million. The collective sale tender for the property closed on 23 May 2023. Aurum Land's bid represents a 5% premium over the site's guide price of $63.8 million and works out to a land price of approximately $1,940 psf.
The transaction marks the first collective sale since fresh cooling measures came into effect 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. Zoned within a “Residential/ two-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.
Aurum Land is the developer behind projects including The Hyde on Balmoral Road in District 10 and Nyon on Amber Road in District 15.
The land plot is zoned for residential or two-storey mixed landed use under the Urban Redevelopment Authority’s 2019 Master Plan. The acquisition will broaden Aurum Land’s scope into the landed property sector, said it chief executive Michelle Yong.
Boutique developer - Aurum Land plans to construct eight to 10 luxury homes at the site comprising detached, semi-detached and terraced houses, with each home having around five to eight bedrooms.
