SINGAPORE: British billionaire James Dyson, inventor of the bagless vacuum cleaner, has bought Singapore’s most expensive penthouse, official records show.

The three-story penthouse – once valued at S$100 million – sits on the 62nd to 64th floor of Guoco Tower, the tallest building in Singapore.

Dyson announced in January he will move his head office from Britain to Singapore to be closer to its fastest-growing markets. His eponymous firm – which also makes bladeless fans, air purifiers and hair dryers – plans to build its first electric car in the city-state.

The penthouse sits atop Wallich Residence, which occupies the 39th to 64th floors of Guoco Tower, located directly above Tanjong Pagar MRT station.
It is one of 181 units at Wallich Residence, comprising one- to four-bedroom units, four penthouses and one “super penthouse”.

Sprawled across 21,108 sq ft, the five-bedroom “super penthouse” has its own private pool, jacuzzi, wine cellar and lift. Before its unveiling in 2017, the highest asking price for the “bungalow in the sky” reached a dizzying S$100 million, making it Singapore’s most expensive.

Wallich Residence Artist Impression

Wallich Residence Artist Impression

Official title records seen by Reuters show Dyson and his wife purchased the 99-year leasehold property on Jun 20. The records did not state the price paid but Business Times reported that Dyson bought the property for S$73.8 million.

“Given the decision to locate the headquarters in Singapore and the growing focus of the company’s business in the region, of course James Dyson has bought a property there,” a Dyson spokesman said, without giving further details of the purchase.

Wallich Residence Artist Impression

The 72-year-old has become one of Britain’s best-known entrepreneurs, creating a multibillion-dollar company from an insight that a cyclone could collect household dust better than a clogged-up bag.

In July last year, Singapore intensified property curbs in a bid to cool the market after a 9.1 per cent annual increase in home prices and as developers paid record amounts to buy land.

Foreigners now have to pay levies of more than 20 per cent to buy property in Singapore under the new rules.