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Thread: Wallich Residence at Tanjong Pagar Centre (D2, 99 years leasehold, Guocoland)

  1. #31
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    Default Re: Wallich Residence at Tanjong Pagar Centre (D2, 99 years leasehold, Guocoland)

    Dyson sells Singapore luxury penthouse for $62m


    British billionaire inventor James Dyson has accepted an offer for his Wallich Residence penthouse (above) in Tanjong Pagar. The founder of electric appliance firm Dyson bought the three-floor property last year for a reported $73.8 million. PHOTO: GUOCOLAND

    Oct 20, 2020

    https://www.straitstimes.com/busines...thouse-for-62m

    British billionaire inventor James Dyson is selling his luxurious Singapore penthouse atop the city state's tallest building, his company said yesterday, about a year after buying it for a reported $73.8 million.

    Singapore's tallest penthouse, on the top three levels of the 64-storey Guoco Tower in Tanjong Pagar, is nearly $3,000 per sq ft on the strata area of 21,108 sq ft. It comes with its own infinity pool and private lift lobby from the basement carpark, and has panoramic views of the city, including the Marina Bay waterfront area.

    The tycoon's purchase of the Wallich Residence penthouse last year - after his electric appliance firm Dyson announced that it was shifting its global headquarters to the city state from England - set a record for Singapore penthouses.

    A spokesman told Agence France-Presse that an offer had been accepted for the three-floor residence, which also has a 600-bottle wine cellar and a dedicated butler service.

    He did not give details of the sale, but it appears that Mr Dyson has made a hefty loss. The Business Times reported that the property was bought by a businessman in the United States for $62 million.

    Despite the sale, the spokesman said: "Dyson remains fully committed to expanding its research and development footprint and other operations in Singapore."

    The buyer is Indonesia-born tycoon Leo Koguan, a US citizen and Texas resident. He is co-founder and chairman of IT provider SHI International, BT reported, without citing sources.

    The Dysons also bought a bungalow near the Singapore Botanic Gardens last year for $50 million, which they still own.

    The company's move to Singapore prompted fury in Britain that the tycoon - a vocal Brexit backer - was not investing more in British manufacturing.

    The firm abandoned plans to produce electric cars last year, saying the project was not commercially viable. Its first vehicle plant was to be located in Singapore.

    Mr Dyson, who employs 1,200 people here, told The Straits Times in an interview published on Sunday that Singapore and the new HQ at the iconic St James Power Station will be at the centre of his firm's growth plans, which include research, development and the manufacture of new technologies.

    AGENCE FRANCE-PRESSE, BLOOMBERG

  2. #32
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    Default Re: Wallich Residence at Tanjong Pagar Centre (D2, 99 years leasehold, Guocoland)


  3. #33
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    Default Re: Wallich Residence at Tanjong Pagar Centre (D2, 99 years leasehold, Guocoland)

    One-bedroom unit at Wallich Residence for sale at $2.36 mil

    February 16, 2023

    A one-bedroom unit at Wallich Residence in District 2 will be put up for private treaty sale this month. An owner’s sale, the 646 sq ft unit is priced from $2.36 million, which translates to $3,650 psf.

    The unit for sale is on the 46th floor. It has an open layout featuring a kitchen and dining area, a living room, and an en suite bedroom.

    Wallich Residence is the upmarket residential component of the integrated Guoco Tower at Wallich Street at Tanjong Pagar. It sits on top of Tanjong Pagar MRT Station on the East-West Line. Guoco Tower comprises 38 floors of Grade-A offices. The 181-unit Wallich Residence spans the 39th to 64th floors of the tower. At 290m, Guoco Tower is considered the tallest skyscraper in Singapore.

    The integrated development includes a 20-storey block with the 223-room Sofitel Singapore City Centre luxury hotel, a 100,000 sq ft retail space and a 150,000 sq ft urban park. Designed by Skidmore Owings & Merrill (SOM), the project was completed in 2017 and is a landmark in Tanjong Pagar today.

    Prices of units sold in December 2013 — when Wallich Residence previewed averaged $3,064 psf. It was considered a new record for a 99-year leasehold condominium in the CBD back then.

    Since the project was completed, it has been hitting new price thresholds. The highest psf achieved was $4,987 psf for a 3,509 sq ft.

    The latest transaction at Wallich Residence was the sale of a 1,259 sq ft, two-bedroom unit on the 60th floor. It fetched $5.25 million ($4,169 psf), based on a caveat lodged in December 2022. The most recent one-bedroom unit at Wallich Residence sold by the developer was a 646 sq ft unit on the 49th floor that went for $2.1 million ($3,252 psf) on Dec 29, 2021.

    Units at Wallich Residence are also commanding high rental rates. Caveats tabulated by EdgeProp Singapore show that the indicative rental range is between $7.40 and $12.40 psf per month (pm) for the 12-month period from January 2022 to January this year, with the average rent coming in at about $9 psf pm. In general, most landlords at Wallich Residence reap rental yields of about 3.2%.



    More at: https://www.edgeprop.sg/property-new...e-sale-236-mil

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