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Food tycoon Sun Shaofeng was one of an influx of international buyers who made a big impression on Sydney’s trophy home market in 2016 when he bought the Vaucluse estate Werribee for $20 million. Seven years later and he’s set to sell it for $38 million.
The chairman and chief of one of China’s leading agriculture producers, China Green Holding, purchased the 3330-square-metre residence from the estate of the late Cementaid founder Peter Aldred, who had held it since 1961 when it sold for a Sydney house price record of £41,000 by grazier Charles Coombs.
Werribee is set on a double block of 3330 square metres in Vaucluse.
Not that Sun looks to have spent a lot of time in the 1914-built house. Internally, the house and neighbouring coach house haven’t been touched since it last traded and the tennis court is now a lawn, but the grounds have been maintained recently.
It does, however, come with DA-approved plans by Thomas Hamel for a new 10-bedroom residence behind the heritage-listed facade.
Sun started out as a bureaucrat for the government office of Fuzhou City before he founded the farm produce export empire in 1998. In 2015, a year before he purchased Werribee, he sold the company’s beverage subsidiary to Coca-Cola for $US400 million.
The 1914-built house Werribee has a heritage-listed facade and DA plans for a Thomas Hamel residence.
Sydney’s trophy market was at the time crowned by the then record $70 million house paid by businessman Chau Chak Wing for James Packer’s Vaucluse mansion, e-commerce billionaire Richard Liu had recently taken up residence in his nearby $36 million home, and the family of billionaire Huang Bingwen purchased the Point Piper mansion Altona for $61.8 million.
Sun’s adventure down under also included the Wynwood winery at Pokolbin until it was sold by his wife Lin Xiaxu in 2021 for $2.94 million.
The Agency’s Steven Chen is expected to launch Werribee to the market on Monday.
The exponential rise in asking price for Werribee is not without precedent. Gold mining businessman John Li’s Vaucluse investment property sale is one of the most impressive of its kind: he paid $10.9 million for a house on the high side of Carrara Road in 2020 and sold it less than two years later for $16.29 million.
The Berrima property Westow has sold for just shy of its $10 million guide.Credit:Domain
Former state Nationals MP Katrina Hodgkinson has sold her Berrima home, Westow, for close to the $10 million guide that was set by Samuel Lindsay, of Drew Lindsay Real Estate.
Hodgkinson and her former husband Jack Saeck built the eight-bedroom homestead in 2013, following their purchase of the 40 hectares in 2007 for $1.57 million.
Former state Nationals MP Katrina Hodgkinson.Credit:
It was first listed in 2020 with hopes of more than $6 million when the couple’s marriage broke down, and re-priced at $10 million last year on the back of soaring values locally.
Berrima has done well from the Southern Highlands property boom, securing the area’s record high of almost $50 million a year ago when tech investor Peter Crown flipped the Mereworth property to father-and-son property investors Roy and Anthony Medich.
Former Bank of Queensland chief David Liddy has followed up his recent resignation as chair of the Brisbane-based fintech EML by listing his Castlecrag home.
Liddy and his wife Christine purchased it in 2004 for $4.1 million and commissioned the Alex Popov-designed residence in 2010.
David Liddy recently resigned as chairman of fintech EML.Credit:Glenn Hunt
The three-level house on Sugarloaf Bay with internal lift, plunge pool, jetty ramp and boatshed comes with a three-metre tender, but no price guide as yet ahead of the April 5 auction through McGrath’s Harriet Halmarick.
It is set a few doors away from the end of the peninsula where Transurban chief Scott Charlton set a suburb high of $23.5 million last July.
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