Chinese buyers set fresh Avoca record with Scotsburn purchase from Knox family

Chinese buyers set fresh Avoca record with Scotsburn purchase from Knox family
Chinese buyers set fresh Avoca record with Scotsburn purchase from Knox family

The Knox family have sold their Avoca property, Scotsburn repotedly for more than $9.2 million to the Lai family, who are behind property giant Zone Q Investments, the Australian arm of China’s JiaHe JianAn Group.

It was less than two years that it has sold at $8.1 million bought by Josie Knox, wife of grazier Jim Knox.

It was listed though Michael Maloney of Richardson & Wrench Bowral.

The deal required Foreign Investment Review Board approval.

Monitored by a 16 camera CCTV security system, the 41-hectare property includes a five-bedroom homestead with porte cochere entry, billiard room, study, gymnasium, sauna, a 20-metre heated indoor pool and championship tennis court.
 
The 41 hectares include six dams and improved pastures suitable for cattle or horses.

Zone Q – headed by Wenzhong Lai and Zongxing Lai – has more than $650 million in real estate projects across the country and in New Zealand, including the $155 million residential project Aqualuna in Milsons Point.

The Knox's sold the New England property Tenterden Station for $17 milllion last year to the Miramar Trust and Riverslea Trust representing two Surat, Qld, faming families.  

Tenterden comprised 1501 hectares of highly developed arable grazing land, reflecting $11,326/ha ($4585/acre).

They retained Avoncliffe, Guyra.

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