Vaucluse home bought for $20 million in 2016 is now on the market for $38 million
food tycoon Sun Shaofeng was among an influx of international buyers who made a huge impact on Sydney’s home market in 2016 when he bought the Vaucluse estate Werribee for US$20 million. Seven years later he wants to sell it for $38 million.
The chairman and boss of one of China’s leading agricultural producers, China Green Holding, acquired the 3,330 square meter residence from the estate of the late Cementaid founder Peter Alfredwho has held it since 1961 when it was sold for a record house price of £41,000 in Sydney by Grazer Karl Coombs.
Not that Sun seems to have spent much time in the 1914 home. Inside, the house and adjacent coach house have not been touched since the last trade and the tennis court is now grass, but the grounds have recently been tended.
However, it does come by with DA-approved plans Thomas Hamelin for a new 10-room residence behind the listed facade.
Sun started out as a bureaucrat in the Fuzhou City Government Office before founding the agricultural export empire in 1998. In 2015, a year before he bought Werribee, he sold the company’s beverage subsidiary to Coca-Cola for $400 million.
Sydney’s trophy market at the time was crowned by a record $70 million paid by a businessman Chau-chak wings for Jacob Packer‘s Vaucluse Mansion, e-commerce billionaire Richard Liu had recently settled into his nearby $36 million home and billionaire’s family Huang Bingwen bought the Point Piper mansion in Altona for $61.8 million.
Wynwood Winery in Pokolbin was part of Sun’s adventure Down Under until it was sold by his wife Linxiaxu in 2021 for $2.94 million.
The agency’s Steven Chen is expected to launch Werribee on Monday.
https://www.smh.com.au/property/news/vaucluse-house-bought-for-20m-in-2016-not-lived-in-since-yours-for-38m-20230309-p5cqmr.html?ref=rss&utm_medium=rss&utm_source=rss_property Vaucluse home bought for $20 million in 2016 is now on the market for $38 million