Chinese supermarket billioniare buys $36 million Vaucluse harbourfront

Chinese supermarket billioniare buys $36 million Vaucluse harbourfront
Chinese supermarket billioniare buys $36 million Vaucluse harbourfront

Just five days before Christmas, a $36 million trophy home at Vaucluse was bought by billionaire supermarket chain owners from China, Huang Qiaorong, who with her husband, Zhang Xuansong, is co-owner and director of China’s Yonghui supermarket chain.

Agents had listed the 1480 square metre harbourfront property two years ago with $35 million plus hopes. It settled January 11 this year through McGrath and Sothebys.

It was sold by Alistair Walton, a former chairman of the local Goldman Sachs outfit, who was appointed consul-general and senior trade commissioner to Houston last October by the Turnbull Government.

Alistair and his former wife, Gilly had commissioned the Coolong Road residence by architect Luigi Rosselli following their 2002 purchase at a then record $14.72 million from retired bookmaker Bob Blann.

The three-storey residence on a north-facing block comes with guest quarters, garaging for nine cars, a tennis court and pool, all within gardens designed by William Dangar.

There is also a private jetty and slipway.

Rosselli recalled "a high level of diplomatic and political skills were required" after the development application was subject to "venomous objections from the neighbours on either side of our project."

"It was like being in the middle of the Maginot lines," he advised.

"Despite this neighbourly war, we obtained a building permit in less than four months." It was built by Alvaro Bros.

It became known as the brief 2011 rental of Hollywood star Leonardo DiCaprio.

Fairfax Media noted the new owner of the property, Ms Huang, is a permanent resident, based in Canberra, and did not require any approval to buy property in Australia. 

Her husband debuted on the Forbes list of China’s billionaires last year with a net worth of $1.35 billion.

Within days of the December 20 exchange another Vaucluse trophy residence, Villa Igiea, was sold for $52 million on New Year’s Eve by expat entrepreneur Wayne Burt to 27-year-old property developer Shangjin Lin.

Also in Vaucluse, the all-time highest Australian trophy home sale price of $70 million was set in August when casino tycoon James Packer and his former wife, Erica, sold to the Hunters Hill based property developer billionaire Chau Chak Wing.

The median price for a home in Vaucluse is $3,700,000, according to CoreLogic RP Data.

Tags: 
Vaucluse

Comments

Be the first one to comment on this article
What would you like to say about this project?