Belmont Rd GCB fetches S$33.8m or S$2,243 psf

Belmont Rd GCB fetches S$33.8m or S$2,243 psf

Sentosa Cove also sees S$33.3 m bungalow deal; buyer related to SingHaiyi owners

Fri, Aug 24, 2018


A NEWLY completed bungalow in Belmont Road developed by Melvin Poh and Victor Soh is being sold for S$33.8 million, or S$2,243 per square foot on the freehold land area of 15,069.46 sq ft.

The property is in the Belmont Park Good Class Bungalow (GCB) Area.

The Business Times understands that the buyer is former model, actress and VJ with MTV Taiwan Kady Leyau. The Singaporean is married to New Zealand-born, Singapore permanent resident and billionaire Richard Chandler.

He relocated to Singapore in 2006, where he runs his personal investment fund Clermont Group. Its portfolio includes interests in healthcare, financial services and energy, according to information on the Forbes website, which estimates Mr Chandler's net worth at US$3.2 billion.

Mr Chandler previously co-founded investment firm Sovereign Global with his brother, Christopher, who now runs his own Legatum Group in Dubai.

Ms Leyau and her siblings set up FIL Skin & Body Intelligence beauty and spa centres. The family has since sold FIL to Global Wellness group,

Ms Leyau, who was FIL's brand director, acted in several Taiwanese drama serials and modelled for TV commercials and fashion magazines.

The two-storey bungalow that Ms Leyau is buying has a built-up area of nearly 22,000 sq ft and comes with an attic/roof garden, and a basement with a big car park. The house has six bedrooms and a 25 by 5 metre pool.

Newsman Realty acted for the seller, which is a company ultimately controlled by Messrs Poh and Soh, who control Fission Group and Pinnacle Assets respectively. Separately, in the waterfront housing district of Sentosa Cove, a single-storey bungalow along Cove Grove with views of the Southern Islands is in the early stage of being transacted at S$33.3 million - the highest price quantum for a Sentosa Cove bungalow since 2013, according to List Sotheby's International Realty (List SIR), Singapore, which is representing the buyer in the deal.

The price works out to S$1,795 psf on the land area of 18,555 sq ft: there is balance leasehold tenure of about 87.5 years on the site. The plot size is substantially larger than the majority of bungalow plots in Sentosa Cove which range from 6,500 sq ft 10,000 sq ft.

The Cove Grove house can be rebuilt into a two-and-a-half storey new bungalow, according to List SIR.

BT understands that the China citizen and Singapore PR in the early 20s purchasing the property is a relative of Gordon and Celine Tang. The couple - who have a controlling stake in Singapore-listed property firm SingHaiyi Group - own and reside in the next-door bungalow.

The seller is Kuok Yit Li, sister of Wilmar International chairman and chief executive Kuok Khoon Hong.

Jesus Christ, rich people.

https://www.edgeprop.sg/property-new...ore-33-million

Luxury bungalows at Belmont Road, Sentosa Cove sold for more than $33 million

A newly completed Good Class Bungalow (GCB) at 43 Belmont Road was recently sold for $33.8 million. Based on the freehold land area of 15,070 sq ft, the price translates to $2,243 psf.
According to property ownership information available on the Singapore Land Authority (SLA) Integrated Land Information Service or INLIS, the buyer of the GCB at 43 Belmont Road is socialite Kady Leyau Chandler, brand director of Fil Skin Body & Spa Intelligence, which is owned by her family. A former model, actress and VJ with MTV Taiwan, Leyau is the wife of Richard Chandler, the Singapore-based, New Zealand-born businessman billionaire and chairman of Clermont Group.

The Good Class Bungalow at 43 Belmont Road that Kady Leyau Chandler bought (Credit: Samuel Isaac Chua/EdgeProp Singapore)
The GCB at 43 Belmont Road has a built-up area of 21,829 sq ft, if the basement garage is included. The basement garage is big enough for 10 supercars. The house has two upper levels and comes with a formal living and dining room, six en suite bedrooms including a master and junior master suite, a 24m swimming pool, a steam/spa room, a dry and wet kitchen as well as space for a wine cellar.
The house was developed by Fission Group founded by Melvin Poh, in a joint venture with Pinnacle Assets, headed by Victor Soh. The duo had purchased a 31,129 sq ft GCB plot at 45 Belmont Road for $44.188 million ($1,420 psf) in 2015. They subsequently subdivided the plot into two smaller GCB plots: 43 Belmont Road, that was recently sold to Leyau; and 45 Belmont Road, which is currently under construction as Soh’s new home.

FOR MORE INFO: https://www.edgeprop.sg/property-new...ore-33-million