The Stamford Residences building is located in The Rocks, and its three-story penthouse recently returned to the market at a price of A$1500 million, giving a glimpse of the unpredictable high-end Sydney market.

This luxury property designed by Kann Finch covers an area of ​​598 square meters. In 2015, Chinese rich man Liu Qiangdong bought the house six months before his wedding and gave it to his then fiancee Zhang Zetian. This incident caused local shock. At that time, Liu bought the apartment for A$1620 million and registered it under the name of the chapter.

Liu is ranked 11th on China's Forbes Rich List, worth US$74 billion, and Zhang caused a sensation on the Internet because a photo of holding milk tea went viral on the Internet and was called the "milk tea sister". They had already rented a mansion in Vaucluse. This mansion, Leonardo DiCaprio, was also rented during the filming of The Great Gatsby.

Last year the couple’s penthouse was involved in a rape case. At a private party organized by Mr. Liu, one of his guests, Longwei Xu, was accused of sexually assaulting a model after he left.

In the incident, Mr. Liu did not face any charges of wrongdoing, but Mr. Xu was convicted of seven counts, including molestation, and was sentenced to 4 years in prison.

When the case was transferred to the District Court, Miss Zhang had already put the four-bedroom apartment in charge of the interior design by Thomas Hamel on the market. The initial price was expected to be A$1800 million, but last year it was expected to fall to A$1500 million.

The house was eventually sold for A$1350 million. The buyer was a company under the names of Nadia and Ramy Arnaout. They are members of the Arnaout family, which is the owner of the hotel industry giant Iris Capital.

In just 11 months, Arnaout planned to sell the apartment. From next week, Ben Stewart and Rob Alfeldi of CB Richard Ellis will recommend 9 penthouses in Sydney, Melbourne and Brisbane to Hong Kong buyers. They call it the "Penthouse Series" and this apartment is its One.

Ms. Zhang is not the only high-profile buyer in China who has lost money because of the Sydney mansion.

船业大亨黄善年在2013年以1700万澳元买下了The Residence大楼俯瞰海德公园的全新顶层公寓。这套公寓在去年以2600万澳元的标价回归市场,但在今年改成了2100万澳元,并在上周以1450万澳元的价格卖给了房地产开发商Phillip George及其妻子Jane。

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Author source: Domain