Two mystery Chinese investors aged 26 and 29 snap up enormous mansion overlooking Sydney Harbour for a record $24.6MILLION – and they already own a luxury $10million city penthouse
- Secretive Chinese couple Junlin Lan, 26, and Hairu Yang, 29, purchased a luxury mansion in Sydney’s east
- The five-bedroom-home in Vaucluse boasts a swimming pool, tennis court and panoramic harbour views
- It was purchased for $24.6 million and became the most expensive house ever sold at auction in Australia
- The couple already have a stake in luxury Sydney properties and own a $10 million penthouse in the CBD
Two secretive Chinese investors have snapped up an enormous mansion with views of Sydney Harbour for a record-breaking $24.6 million.
When Junlin Lan, 26, and Hairu Yang, 29, purchased the home in Vaucluse, in Sydney’s eastern suburbs, it became the most expensive house ever sold at auction in Australia.
The pair are already own a two-level penthouse on top of the Swissotel in Sydney’s CBD, which they bought for $10 million in 2017.
Secretive Chinese couple Junlin Lan, 26, and Hairu Yang, 29, snapped up a luxury mansion (pictured above) in Vaucluse
The five-bedroom-home in eastern Sydney (view pictured) sold in September for a record-breaking $24.6 million
The luxury home boasts a swimming pool, tennis court and panoramic views of the city and Sydney Harbour (pictured above)
When the investors purchased the home (pictured) it became the most expensive house ever sold at auction in Australia
Lan and Yang purchased the five-bedroom Vaucluse mansion for more than $10 million over the reserve price at the historic auction in September, Domain.com.au reported.
The young couple beat 11 other bidders for the 1085-square-metre block of land and only half of the 25 registered buyers raised their hand at the auction.
An opening offer of $13 million was made for the 42 Vaucluse Road home despite the $11 million guide.
Bids rose in $100,000 increments and the hammer eventually fell well above the $14 million reserve price.
The Vaucluse home, which boasts a pool, tennis court and panoramic harbour views, was previously home to Japanese businessman Akihiko Terada.
Sydney Sotheby’s International Realty selling agent Michael Pallier said he was shocked by the record-breaking sale.
‘It went crazy at the auction, so many people wanted to buy it. We had 25 registered bidders and it just took off straight away,’ Mr Pallier told Daily Mail Australia.
The 1085-square-metre block of land (view pictured) was previously home to Japanese businessman Akihiko Terada
42 Vaucluse Road (pictured above) was purchased well above the $11 million guide and $14 million reserve price
Bids for the home (dining room pictured) rose in $100,000 increments and only half of the registered buyers put in a bid
‘It sold for $11.3 million eight years ago in 2013. The owner passed away last year and we sold it for the family.
‘It’s gone from $11.3 million to $24 million in that short time and was bought by a young Chinese-Australian couple.’
He revealed the secretive couple planned to demolish the luxurious mansion and build a new home.
‘They’re going to demolish it and put a new house there. It was only built in 2005 but wasn’t what everyone wanted, they all wanted the land,’ Mr Pallier explained.
Real estate agent Michael Pallier revealed the young couple planned to demolish the home (swimming pool pictured above)
The mansion also features five bathrooms, self contained guest accommodation and four car spaces (tennis court pictured)
‘Nearly everyone wanted to take it down.’
The mansion also features five bathrooms, self contained guest accommodation, four car spaces and a tropical garden.
It broke the record set in 2009 when media boss Lachlan Murdoch purchased the French trade commissioner’s residence, Le Manoir, in Bellevue Hill.
At the time Le Manoir had a guide of $15 million and was bought for $23 million.
Aerial view of the luxurious Vaucluse mansion’s location and view of Sydney Harbour and Sydney CBD pictured
The couple also purchased a $10 million penthouse apartment (pictured) above the Swissotel in Sydney’s CBD in 2017
Lan and Yang are the co-directors and co-owners of corporate entity Hung Jia Investments, which was registered in 2017.
The couple also established corporate entity MK4Real Pty Ltd last year.
They bought their $10 million penthouse, in The Tower apartment block atop the Swissotel, from Christiane’s hair salon founders Anthony and Christine Warbrick.
It boasts three bedrooms, four bathrooms, three car spaces and terraces with views of the Sydney Harbour bridge.
The apartment boasts three bedrooms, four bathrooms, three car spaces and terraces with views of Sydney Harbour