Earlier this month, Sir James Dyson, founder of tech giant Dyson, made the headlines when it was reported that he had just bought one of Singapore’s most expensive and biggest penthouse.
Located at the Wallich Residence, the 72-year-old billionaire and his wife, Lady Deirdre Jessie Dyson, were listed as joint tenants of the penthouse.
It was reported that they paid S$73.8 million for the penthouse.
Spanning over 21,000 square feet from the 62nd to the 64th floor, the penthouse offers views of the Central Business District, Marina Bay, and Sentosa Island.
Sir Dyson Makes Another Real Estate Purchase In Singapore
That doesn’t seem to be the end of his real estate ‘shopping spree’ in Singapore.
The Straits Times reported that he has just snapped up a bungalow on Cluny Road.
The 1,402.9 sqm freehold Good Class Bungalow (GCB) is said have an unobstructed view of the Singapore Botanic Gardens.
Based on documents obtained by The Straits Times, the Controller of Housing granted approval for Sir Dyson to buy the bungalow on 2 July, after the option to purchase was granted on 3 June.
As a Singaporean PR, Sir Dyson would likely need to pay an additional buyer’s stamp duty (ABSD) of 5% on his first property, the Wallich Residence penthouse, and 15% for the Cluny Road bungalow.
The Singapore Government is stringent in granting approval to foreigners and Singapore PRs buying landed homes in a GCB area, and there are two main factors that need to be fulfilled.
One, they “must have made exceptional economic contributions to Singapore”.
Secondly, they “can use the landed property only for their own occupation”.
Industry sources revealed that the property’s seller, Mr Jason Lee Boon Leng, a director of developer Forte Global, listed the bungalow at “above $3,000 per sqft, or $45 million”.
It is unknown how much Sir Dyson paid for the bungalow, but JLL senior director Carin Puah who spoke to The Straits Times estimated that the property “may sell for more than $41 million”.