CK Ow's Phoenix Acres, Vaucluse comes with $70 million record setting hopes
Staff reporterDecember 7, 2020
Singaporean businessman CK Ow has his Vaucluse harbourfront mansion listed with hopes of bettering Sydney's $71 million record price.
Mr Ow, chairman and chief executive of Singaporean hotel owner and developer Stamford Land Corporation Limited, is selling Phoenix Acres, a 3731sq m site with six-bedroom, six-bathroom home at 38B The Crescent.
It was bought 22 years for $7,001,000 from the Braham family.
Tycoon James Packer's non-harbourfront mansion, also in Vaucluse sold for $70 million, and in April this year John B Fairfax family's Elaine estate in Double Bay sold for $71 million.
Its deep water 80 metre jetty was built for ferries that connected it to Circular Quay before the mansion was built in the 1960s by newspaper tycoon Ezra Norton in the 1960s.
The estate comes with championship tennis court, resort-style pool and an English-style pub.
In 2003 The Australian wrote his four residences - in Sydney, London, Singapore and New Zealand - all have their own English pub.
His taste in cars run to a Ferrari 360 Spider and three chauffeured Rolls-Royces with the OW1 registration.
Likened by an easily enraptured The Straits Times of Singapore to American Donald Trump, Ow was described as seeming to be a reclusive poster boy for ostentatious excess.
Ow says he is selling Vaucluse because he no longer spends much time there.
"Sadly, I do not spend sufficient time there to enjoy this jewel of a property as my travels take me to many other far reaches of the world."
“My Vaucluse home is magical and irreplaceable. It is more than just a waterside home. It’s a sea-side resort, self-sufficient with all country club amenities,” Mr Ow said in a statement.
Stamford Land is building Macquarie Park Village - a mixed use apartment project - at the corner of Herring and Epping Roads in Macquarie Park.
It is listed through Ray White agent Craig Pontey.
The 1946-born Ow Chio Kiat and wife Katherine Ow have two children, Ow Yew Heng, a chief executive officer with the group, and daughter Ow Yiling Kiat, a former Citibanker, now working at Stamford Land as treasury manager.
Ow Yew Heng has a bachelor of Business, Accounting & Management from the University of Technology, Sydney.
Ms Kiersten Ow YiLing holds a Diploma in Mass Communications from the University of Technology, Sydney.