Jun 20, 2011

Jackie Chan pockets $3.7m from Tg Pagar building sale

Hong Kong film star Jackie Chan sold The 50s entertainment complex in Tanjong Pagar to a friend for $12.5 million in April. -- PHOTO: REUTERS

HONG KONG movie superstar Jackie Chan, who owns several properties in Singapore, has made a tidy profit after selling The 50s entertainment complex in Tanjong Pagar.

Lianhe Zaobao reported on Saturday that Chan sold the building in April for $12.5 million to a Singapore friend who runs an investment firm.

Having shelled out some $8.8 million for the property in 1996, Chan has made a return of $3.7 million from the sale.

The paper reported that he had not planned to put the property up for sale, but the friend had asked him repeatedly and the celebrity finally agreed.

Chan is no stranger to the property scene in Singapore, having bought the former Jinriksha Station at nearby 1 Neil Road in late 2007 for $11 million.

Recently, he and a good friend, singer and song writer Wakin Chau, reportedly picked up a few apartments at the Twin Peaks condominium in Leonie Hill Road, which is being developed by Overseas Union Enterprise. Chan bought two one-bedroom units on one of the lower floors of the 35-storey project while Mr Chau purchased a unit on another floor.

The units are about 571 sq ft each and are going at around $2,850 per sq ft, although it is not known how much the pair paid.

Last year, Chan bought three units at the Centennia Suites in Kim Seng Road while Mr Chau picked up a three-bedder.