Dysons sell 3-storey S'pore penthouse at Wallich Residence at a loss for $62m: Report

[kobayashiGT]

Dysons sell 3-storey S'pore penthouse at Wallich Residence at a loss for $62m: Report

sources: https://www.straitstimes.com/business/property/dysons-sell-3-storey-penthouse-at-wallich-residence-in-singapore-for-62-million

SINGAPORE (BLOOMBERG) - The Dysons behind the self-named British consumer electronics company are selling their triplex penthouse at Wallich Residence for $62 million - less than the record purchase price of $73.8 million paid last year - The Business Times reported on Monday (Oct 19).

Singapore's tallest penthouse, on the top three levels of the 64-storey Guoco Tower in Tanjong Pagar, is nearly $3,000 per square foot on the strata area of 21,108 sq ft; it comes with its own infinity pool and private lift lobby from the basement car park.

The Dysons' purchase of the Wallich Residence penthouse last year set a record for Singapore penthouses.

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

The property has been held under Dyson founder James Dyson's wife, Deirdre.

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

 

[Silverkris]

Even the Dysons are in need of cash these days. The COVID situations has thrown everyone's plan out the window.

2020 was supposed to be the recovery year for 2019, but alas, it all becomes worse from there onwards.

[Throttle2]

In out, lost so much.... stamp duties lost, price difference lost, time lost, effort lost

?.......??? I thought property bao jiak one?   Damn...... property also can lose big big.  

Becos he didnt expect that he would need money ah.? Wahahah

But no problem, money still a lot, 小事小事

[Yewheng]

1 hour ago, Silverkris said:

Even the Dysons are in need of cash these days. The COVID situations has thrown everyone's plan out the window.

2020 was supposed to be the recovery year for 2019, but alas, it all becomes worse from there onwards.

I don't think is in need of cash.. Its more like he got good class bungalow already and perhaps very rarely go to that penthouse and or his objective is met.. Which is to get good class bungalow.. So no need this penthouse. He has so much money, so no need depends on rental yield, so just sell it lor. That's my opinion.. 

Edited October 19, 2020 by Yewheng

[Atonchia]

1 hour ago, Throttle2 said:

In out, lost so much.... stamp duties lost, price difference lost, time lost, effort lost

?.......??? I thought property bao jiak one?   Damn...... property also can lose big big.  

Becos he didnt expect that he would need money ah.? Wahahah

But no problem, money still a lot, 小事小事

Bao jiak for property agent

[Ysc3]

How come no one from mcf offer to buy the penthouse? 

[Dp26]

More huatz for us la 

govt collect a lot of absd for nation building.. 

 

😂

[Soya]

1 hour ago, Throttle2 said:

In out, lost so much.... stamp duties lost, price difference lost, time lost, effort lost

?.......??? I thought property bao jiak one?   Damn...... property also can lose big big.  

Becos he didnt expect that he would need money ah.? Wahahah

But no problem, money still a lot, 小事小事

Coz amdk neber attend those local property guru investment seminars mah. Can own 10 properties with no cash wor...

 

[Soya]

10 minutes ago, Ysc3 said:

How come no one from mcf offer to buy the penthouse? 

I'm sure have lah

But changed their mind later when they found out it's not the magazine....

 

[Beanoyip]

Nobody dare to say he wash money?

[Soya]

11 minutes ago, Beanoyip said:

Nobody dare to say he wash money?

Coz Dyson no make washing machine

[kobayashiGT]

6 minutes ago, Soya said:

Coz Dyson no make washing machine

Means he is a sucker in sucking money.

He is famous for his vacuum.

[Voodooman]

1 hour ago, Yewheng said:

I don't think is in need of cash.. Its more like he got good class bungalow already and perhaps very rarely go to that penthouse and or his objective is met.. Which is to get good class bungalow.. So no need this penthouse. He has so much money, so no need depends on rental yield, so just sell it lor. That's my opinion.. 

This guy is a billionaire and you know how much stamp duties he paid and will be paying to sell?  Of course he needs the money for something else.

[BanCoe]

This IS madness but Guv is hapi to collect SSD (sellers stamp duty) as he did not complete the 5 years and also again collect new ABSD + Stamp duty from new buyer(since I take it that he is a foreigner)  ..... Agong huat lah!! all the way to the bank singing 

Edited October 19, 2020 by BanCoe

[Sp4wn]

Just now, Voodooman said:

This guy is a billionaire and you know how much stamp duties he paid and will be paying to sell?  Of course he needs the money for something else.

may not be in need of cash, but might be able to see better utilization / returns for the cash (even after taking a $15mil haircut).

[Throttle2]

He probably realised that there was not gonna be another fool who would pay that money for an apartment and moreover since already got GCB why bother with another useless space?

so just cut losses there and then and move on.  Life should be simpler with money, not more complicated.

His thinking similar to mine.....hhhmmmm...muayhahaha

Edited October 19, 2020 by Throttle2

[Voodooman]

31 minutes ago, Sp4wn said:

may not be in need of cash, but might be able to see better utilization / returns for the cash (even after taking a $15mil haircut).

Like i said, he is a billionaire.  $50m is small change but he is probably seeing lots of investment opportunities in this market. 

[Ct3833]

1 hour ago, Beanoyip said:

Nobody dare to say he wash money?

This is not wash money , wash properties.