Businessman Greg Jones secures $12 million in small Vaucluse loss
Businessman Greg Jones and his wife, Kim, who now live in Hong Kong and rent in Potts Point, Sydney had hoped their Vaucluse mansion would fetch $14 million.
Official records lodged this week show it fetched $12 million when bought by the Hasson Lederer family.
The mansion on a 1448-square-metre Wentworth Road block traded at $12.5 million in late 2008.
The SMH investigative reporter Kate McClymont wrote that Jones, who has been featured in the Obeid ICAC inquiry, told friends in an email that he was off to pursue the "increasingly sophisticated Hong Kong and Chinese wine markets and the expansion of our tertiary education investment into Hong Kong and Beijing".
The property website Radical Terrace considered the property was likely to sell at a loss when it was written up last May. It was listed in March, and sold last August on extended settlement terms.
It sold through Alain Waitsman at LJ Hooker.
