BIZ BUZZ: Prime ‘legacy estate’ put up for sale
Property brokers have been abuzz recently over the surprise move of this famous family to put up their compound for sale.
The “legacy estate” within one of the ultraexpensive gated communities in Metro Manila measures a little over 8,000 square meters covered by seven separate titles.
It is being offered at P168,000 a square meter (sq m), which brings the total tag price to P1.353 billion.
Steep indeed, but the family could have easily gotten a lot more during the heyday of the Philippine offshore gaming operators when the going rate in this village was as high as P225,000 per sq m.
Nevertheless, the estate can still command a premium given the provenance and the features.
The main residence that used to be the home of one of the country’s captains of industry dominates the estate at 6,727 sq m.
It is described as having four bedrooms, elegant wood-paneled library, expansive lanai overlooking manicured gardens, a resort-style swimming pool and even a private clay tennis court with night lighting.
“A true heritage-style residence designed for legacy living and large-scale entertaining,” says the listing.
The second residence, meanwhile, is a more modest 1,325 sq m property described as “perfect as a secondary home, guest residence or multi-generational living solution.”
Interested? Prepare over P1 billion. But then again, the family that has been in the news more often than they would want could be open to negotiations.
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