Lee Wei Ling sells Cluny Hill GCB for $50m to Haidilao co-founder Shi Yonghong
Haidilao co-founder Shi Yonghong has spent $50 million to purchase a Cluny Hill good class bungalow.
Co-founder of hot pot chain Haidilao, Shi Yonghong, has spent $50 million to purchase a Cluny Hill good class bungalow (GCB). And he purchased it from none other than Dr Lee Wei Ling, the daughter of the late founding prime minister Lee Kuan Yew. According to The Straits Times, Shi (also known as Sean Shi) legally acquired ownership of the freehold GCB in Cluny Hill on Sept 6.
The property is located in the neighbourhood of Haidilao chairman and co-founder Zhang Yong's GCB in Gallop Road. Both properties are within walking distance of Singapore Botanic Gardens. An old bungalow currently sits on the land and with a land size of 18,255 sq ft, the price of $50 million works out to $2,740 per sq ft.
Karamjit Singh, chief executive of property consultancy Delasa told The Straits Times that "the $2,740 psf price reflects that the buyer will need to invest in redevelopment, which can cost $10 million or more". "That would bring the value of the rebuilt property to at least $60 million, which will translate to between $3,200 and $3,300 psf, which is more in line with the market," he said.
Lee Kuan Yew’s daughter sells bungalow for S$50m to Haidilao co-founder — Straits Times
The legal transfer of ownership of the freehold GCB took place on Sept 6
Lee Wei Ling, the daughter of Singapore’s former premier Lee Kuan Yew, sold a bungalow for S$50 million (US$35.5 million or RM161.22 million) to a co-founder of China’s largest hotpot restaurant chain, the Straits Times reported.
The property, which sits on a land area of 18,255 sq ft, was transferred this month to Haidilao International Holding Ltd’s Shi Yonghong, the paper said, citing documents it obtained.
The freehold bungalow is located near the Orchard Road shopping district.
Haidilao co-founder buys Lee Wei Ling's Good Class Bungalow at Cluny Hill for S$50 million
Shi Yonghong, the co-founder of the popular hotpot chain Haidilao International, bought a Good Class Bungalow (GCB) at Cluny Hill belonging to Lee Wei Ling, who is the late Prime Minister Lee Kuan Yew's daughter, for a cool S$50 million. The Straits Times (ST) reported that the GCB was previously owned by Kwa Geok Choo Pte Ltd.
The company has been renamed Cluny Lodge Pte Ltd, where Lee is the sole shareholder. Her nephew Li Huanwu, who is Lee Hsien Yang's second son, is one of the directors. Based on the legal transfer documents that ST obtained, the ownership of the GCB changed hands from Lee to Shi on Sep. 6.
Besides being the co-founder of Haidilao International, Shi is the chair of Yihai International Holding, which produces hotpot seasonings and sauces. His family has a net worth of US$4.1 billion (S$5.7 billion) and is ranked 87th on Forbes' China's Richest 2021 list. Their new purchase is within walking distance of the family's two other bungalows. One in Gallop Road, and the other is the Winged House next door. Those two properties sit on around 35,000 sq ft of freehold land.
Lee Hsien Yang sells his ‘resort-style’ home for S$13 million, lists another bungalow up for $16.8 million
Lee Hsien Yang and his wife, Lee Suet Fern, have sold a two-storey bungalow in the good class bungalow (GCB) area of Caldecott Hill, for S$13 million, and put an adjoining bungalow on the market for another S$16.8 million.
The second house has been listed for S$16.8 million on the real estate portal PropertyGuru. It is owned jointly by the couple. Lee Hsien Yang is the younger brother of Prime Minister Lee Hsien Loong.
A Straits Times report says that the option to buy the first house which sits on a 921.6 sq m or 9,920 sq ft site has been granted to a Singaporean businessman. At S$13 million, this would work to less than S$1,400 per sq ft (psf). The S$16.8 million asking price for the other house translates to around S$1,700 psf, based on a land area of 918.5 sq m or 9,888 sq ft.
Singapore PM’s bro offloading S$30M in fancy bungalows
The prime minister’s brother is selling off his bungalow for S$16.8 million (US$12 million) after raking in S$13 million for another one nearby. Lee Hsien Yang, who is the younger brother of Prime Minister Lee Hsien Loong, has listed a two-story “resort-style modern bungalow” on Caldecott Hill on the market but declined to tell reporters why.
He sold another nearby luxury property to a businessman, according to a report, joining other wealthy individuals feeding a frenzy for Singapore’s bungalows, which are the local equivalent of a mansion. The nearly 10,000 sq ft property currently on the market has six bedrooms, five bathrooms, a basement, and a pool, according to photos shared online. Public records showed that the house was owned by the 64-year-old Lee and his wife Lee Suet Fern.
Other amenities of the house included two living rooms, a dining room that can accommodate 20 people, a wine cellar, and a koi pond, said the PropertyGuru website, where the house has been listed since a week ago. It also boasts “total privacy.” The brothers and their sister Lee Wei Ling grew up in a house on Oxley Road that later became the object of a family feud.
Caldecott Close bungalow owned by Lee Hsien Yang and wife sold for $13m; they list another for $16.8m
The two-storey bungalow in the Caldecott Hill good class bungalow area was sold for $13 million. ST PHOTO: MARK CHEONG
Mr Lee Hsien Yang and his wife, Mrs Lee Suet Fern, have sold a two-storey bungalow in the Caldecott Hill good class bungalow (GCB) area for $13 million, and put another nearby bungalow on the market for $16.8 million.
The adjoining freehold properties are located in Caldecott Close, near the old premises of Mediacorp.
A search on the Singapore Land Authority website shows that Mr Lee, the younger brother of Prime Minister Lee Hsien Loong, and Mrs Lee are joint owners of both properties.
Lee Hsien Yang's Caldecott Close bungalow is being sold to Luxasia Group scion
The Lees' property at Caldecott Hill. (PHOTO: Google Street View)
The Caldecott Hill bungalow belonging to Prime Minister Lee's brother, Hsien Yang, and his wife Lee Suet Fern is being bought by Luxasia Group's managing director Alwyn Chong.
A search on the Singapore Land Authority site by Yahoo Finance Singapore showed that Chong is in the midst of buying the two-storey property, situated on a lot area of 9,920 sq ft, for $13.25 million. This works out to around $1,336 per sq ft.
The document stated that Chong, the scion of the beauty products distributor, lodged a caveat on the Caldecott Close property on 8 April this year.
Lee Hsien Yang's freehold Caldecott Hill bungalow being sold for S$13.25 million
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.
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.
The famiLEE tree
Lee Kuan Yew Doppelganger Spotted At Coffee Shop On 18 May 2022
The term doppelganger is used to describe someone who is a spitting image of another, although they are entirely biologically unrelated. While it’s incredibly rare to meet one in person, it’s not entirely impossible, as seen in this video posted on 18 May.
In the clip, a man resembling the late Mr Lee Kuan Yew chows down on a meal at a coffee shop. Perhaps it’s the camera’s angle, but the uncanny resemblance left the Internet shook. The video, which a Facebook user shared in the Singapore Incidents group, left commenters reeling from laughter, and they spared no expense when cracking jokes.
One joked that the man was the late Mr Lee’s body double. He had probably lost his job since the Minister Mentor (MM)’s passing. With the latest release of the CDC vouchers, another person suggested that he might be taking the opportunity to use them to pay for his lunch. Considering how eerie it must be to see the likes of someone who has passed, a Facebook user said the OP should count his lucky stars that the encounter happened in broad daylight.
