Pub owner buys Amsterdam's most expensive home for €16 million

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No image availableNL Times

An Amsterdam bar tycoon won the bidding war for the city's most expensive residential property. Won Yip blew away all other bids with an offer of 16 million euro for the 1,400 square meter penthouse in the Pontseigergebouw, far more than the 10 million euro price tag it was speculated to have.

Included in the deal were eight parking places and two berths for boats. The building is still under construction, and not expected to be completed until 2017.

Yip, from Zeeland, is the owner of Majestic and several other bars around Dam Square, as well as the Players chain of pubs and London restaurant Sushi Samba, according to Quote magazine. "During the Master of LXRY, I saw the model and actually I was already sold," he said in a press release.

"I still need to get used to the purchase, and I feel very privileged that I was able to buy it."

Yip also owns Cafe Zwart on the Dam and the Heineken Hoek in Leidseplein. He told Quote in a 2014 interview that he never took on any debt in his business dealings, beginning with a small cafe he started in Goes, Zeeland when he was 19.