Singapore — 28-year-old chief executive officer and co-founder of homegrown gaming chair company Secretlab, Ian Ang, recently purchased two luxury properties worth S$51 million.
Mr Ang, who won the EY Entrepreneur of the Year award for consumer products in 2020, purchased a Good Class Bungalow (GCB) at 27 Olive Road in Caldecott Hill Estate worth S$36 million and another five-bedroom triplex penthouse at Leedon Residence for S$15 million, reported Property portal EdgeProp on Jun 29.
The purchases were not mere impulse buys, said Stephen Ho, the vice president of residential services at CBRE Singapore and the one who brokered both transactions for Mr Ang.
Mr Ho said that they had searched for two years, considering multiple aspects of the decision.
Mr Ang had looked at several GCBs listed on the market before focusing on the one at Olive Road. The one he purchased sits on a freehold plot of 23,424 sq ft and comes with sloping terrain.
The property overlooks the Caldecott Hill Estate, Mount Pleasant area and the Singapore Polo Club.
“One can even see Marina Bay Sands and the city in the distance,” said Mr Ho.
“The main draw of the property is the land size and the unblocked view of the greenery and the skyline. He also likes the tranquillity and the privacy, given the location of the site.”
The price of S$36 million, amounting to S$1,537 per sq ft (PSF), had set a new record on a PSF level for the Caldecott Hill Estate, noted EdgeProp.
Mr Ang plans to tear down and rebuild the existing two-storey detached house built in 1940 and is currently selecting an architect for the job.
It was reported that the property redevelopment would take three years; therefore, Mr Ang also decided to purchase a penthouse to reside in while construction is ongoing.
List Sotheby’s International Realty’s Steve Tay represented the Leedon Residence penthouse sale, showcasing a “new state-of-the-art GCB with striking architecture and basement garage.”
The 7,007 sq ft triplex sits at a corner lot and enjoys a view of the nearby GCB estates in Leedon Park-Belmont Road, Victoria Park and Bukit Timah area from the double-volume ceiling of the living room.
It was revealed that star architect Chan Soo Khian would spearhead the design.
Mr Ang’s purchase of the penthouse has also set a new record at Leedon Residence. He plans to renovate the property before moving in.
According to Mr Ho, the penthouse purchase will serve as a residence for Mr Ang while the GCB is being rebuilt, then it will be used as an investment property in the future.
“The younger generation still gravitates towards property due to the Asian belief in owning tangible assets,” said Mr Ho.
“However, they are also more aware about good design, sustainability of a property, and being close to nature. There’s a desire to create a private sanctuary away from the hustle and bustle of their hectic worklife.” /TISG
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