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Cove Grove bungalow for sale at $39.8 mil

By Nur Hikmah Md Ali

/ EdgeProp Singapore |

May 24, 2024 10:19 AM SGT

The 9,447 sq ft, two-storey bungalow at Cove Grove in Sentosa was offered at an auction on May 21 The bungalow’s swimming pool (Photo: SRI)

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SINGAPORE (EDGEPROP) - A two-storey bungalow on Cove Grove in Sentosa was put up for sale via auction for $39.8 million on May 21. The property sits on a land area of about 9,447 sq ft, which translates to a land rate of $4,200 psf.

According to SRI, the marketing agent for the sale of this Sentosa Cove bungalow, this was the first time that the property had been offered for sale via auction.

The property has a 99-year leasehold (Photo: SRI)

The bungalow spans a built-up area of approximately 10,800 sq ft and boasts a car porch for three cars alongside a refreshing swimming pool. Inside, it flaunts five bedrooms, eight bathrooms, a helper’s room, an attic, and a basement. It faces the waterway and has a private berth for the owner’s yacht. Purchased in 2007 on a 99-year leasehold, this property was to be sold vacant.

This was the second time the bungalow on Cove Grove had been put up for sale. In 2021, EdgeProp Singapore reported that the Singaporean owner listed the property for $39 million ($4,116 psf). At that time, it was leased for $32,000 per month. It was reported that the owner also owned the next-door bungalow and listed it for sale for $39 million ($4,111 psf).

One of the five bedrooms on the property (Photo: SRI)

In addition to the Cove Grove bungalow, the SRI auctions team is marketing the auction sale of another 6,926 sq ft bungalow on Cove Drive for $24.5 million ($3,537 psf). It will be sold with a tenancy in place until the end of August 2025.

The two-storey bungalow on Cove Drive features six bedrooms and eight bathrooms, spanning a built-up area of approximately 5,541 sq ft. The 99-year leasehold property includes a car porch accommodating three cars and a swimming pool.

EdgeProp Singapore previously reported that this property also belonged to the owner of the two bungalows on Cove Grove. In 2017, the owner attempted to sell this house and an adjacent property on Cove Drive via auction for $19.8 million and $19.9 million, respectively. However, the properties did not receive any successful bids at the time.

Based on caveats lodged, the most recent transaction on Cove Grove was in October 2022. A 9,182 sq ft bungalow on 17 Cove Grove changed hands for $22 million ($2,396 psf). That same month, 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. This record was set in October 2012 when a 10,102 sq ft bungalow on 18 Cove Grove was sold for $25.5 million.