Foreign Property News | Posted by Hnin Ei Khin
Lee Hsien Yang and his wife Lee Suet Fern are in the midst of selling their two-storey bungalow in the Caldecott Hill Estate good class bungalow (GCB) area as a prospective buyer has been found.
Word about the sale got out on April 27, as reported by Yahoo News, following a search on the Singapore Land Authority site.
Buyer is scion of Luxasia Group
The freehold bungalow is being sold for S$13.25 million to the scion of Luxasia Group, The Straits Times subsequently reported.
The deal works out to S$1,336 per sq ft. The bungalow sits on a 9,920 sq ft site.
The buyer is reportedly Alwyn Chong, managing director of cosmetics and fragrance distributor Luxasia.
The house is near the old premises of Mediacorp. A caveat for the property was lodged by Chong on April 8.
Caveats are lodged to protect the buyer's interest, giving them the option to purchase the property and preventing it from being put up for sale to other parties.
Chong is not the first person to be granted an option to purchase the property.
A Singaporean businessman was previously granted the option to purchase in October 2021.
Lee is the former chief executive of Singtel and former chairman of Fraser & Neave. Suet Fern is a senior lawyer.
They are joint owners of the bungalow, Lee is the younger brother of Prime Minister Lee Hsien Loong.
(Listed for S$16.8 million)
News of the bungalow's listing for S$16.8 million was reported by Bloomberg in October 2021.
The report called it a "mansion", while the listing said "resort-style modern bungalow".
The listing is no longer available for viewing.
The bungalow consists of six bedrooms, two living rooms, and a dining room, a basement wine cellar and lounge, a helper's room, an infinity pool, and a koi pond.
Four cars can be parked in the property. Vacant possession are sold with the house.
The Lees own another freehold bungalow that sits on 9,888 sq ft of land in Caldecott Close, ST reported.
Ref: Lee Hsien Yang's freehold Caldecott Hill bungalow being sold for S$13.25 million (mothership)
