Last year, 11 bungalows at Sentosa Cove were sold for a total of $180.17 million ($1,707 psf). Three of the 11 bungalows were located on Paradise Island, one of five man-made islands in Sentosa Cove.
The latest transaction for Paradise Island was in October, when a bungalow sitting on a 9,236 sq ft site fetched $14 million ($1,516 psf), according to a caveat lodged then.
Paradise Island was also where a record price in both absolute and psf terms was first set in May 2010: the biggest villa there sitting on a 14,983 sq ft plot, with a wide frontage, fetched $36 million ($2,403 psf).
This record was broken in 2012, when a house fronting the sea and sitting on a land area of 15,931 sq ft at Cove Drive was sold for $39 million ($2,448 psf).
On the market now is another villa, at 20 Paradise Island. The property sits on an 8,170 sq ft, 99-year leasehold site fronting the waterway and comes with a private berth. The owner of the house, said to be a young and successful Singaporean entrepreneur, had purchased the property in a sub-sale in October 2007 for $13 million ($1,591 psf). “He bought it for his collection of luxury properties,” says Jeffrey Sim, associate executive director of OrangeTee & Tie.
Having held the property for 12 years, the owner has decided to sell it, with Sim as the appointed exclusive marketing agent. The owner has never lived in the property, which has been tenanted over the years.
The house at 20 Paradise Island has a built-up area of about 9,000 sq ft. The first level contains a spacious living and dining area, an en suite guest bedroom, as well as an open kitchen with an enclosed wet kitchen. There is also an adjoining utility room and a helper’s room big enough to accommodate two helpers. The living room opens out to the swimming pool and landscaped garden.
The second level contains a family room and four en suite bedrooms including the master suite. The master suite, including a walk-in wardrobe and en suite bathroom, is approximately 1,000 sq ft, reckons Sim. The master suite has sliding glass doors opening out to a balcony overlooking the waterway.
The attic level contains a room with an en suite bathroom. The room can either be used as a sixth bedroom, a home office or an entertainment space as there are glass sliding doors that open out to a spacious balcony too. Given its vantage point, the property enjoys unblocked views of the waterway and the surrounding houses, adds Sim.
The car porch and driveway are big enough to park four cars, and the private berth accommodates one boat. “If you want to enjoy the waterfront lifestyle, you should definitely get a boat,” says Sim. “And if you get a boat, you should have a house with a private berth to park it. There aren’t many bungalows in Sentosa Cove that come with a private berth.”
The property at 20 Paradise Island is on the market for $11.5 million ($1,408 psf). “It’s a great buy at this price,” says Sim.