One of China’s richest businessmen revealed as buyer of Vaucluse trophy home sold for $20 million

A HISTORIC trophy home in Sydney’s east has sold to a Chinese businessman — one in a recent line of mansions purchased by China’s elite over the past year.

Werribee, a trophy home in Vaucluse, sold for $20 million to a Chinese businessman.

ONE of China’s wealthiest businessmen has been revealed as the buyer of a prize Vaucluse mansion sold in June for $20 million.

The buyer had remained a mystery after the estate sold for $2 million above the initial price guide of $18 million, but agriculture tycoon Sun Shaofeng has since emerged as the new owner.

Mr Sun is the chairman of China Green, one of China’s leading agricultural producers.

He purchased the home at 37 New South Head Rd, known as Werribee, off the estate of late Cementaid founder Peter Aldred.

Mr Aldred had owned the home since 1961, when he purchased it for a then Sydney price record of 41,000 pounds.

Built around World War I, the 3330sq m property has dual-street frontage, seven bedrooms, five bathrooms, a garage for five cars, and a swimming pool.

The property on New South Head Rd has some of Sydney’s best harbour views.

It had last sold in 1961 for a then price record of 41,000 pounds.

The buyer had remained a mystery after the home sold in June.

It also has three living rooms, two sunrooms, a billiard room, a table tennis room and outdoor terraces. It was listed with Raine and Horne agents Max Spartalis and Mark Yeats.

Mr Sun’s purchase signals a rekindling of Chinese elites’ love affair with Sydney mansions.

Billionaire telecoms investor Wang Qinghui paid $18 million earlier this year for Bishopscourt, a neo-gothic mansion at Darling Point, ending 105 years of ownership by the Anglican Church.

The initial price guide had been $18 million.

Late last year supermarket chain boss Huang Qiaorong and husband Zhang Xuansong paid $36 million for a Vaucluse waterfront home.

Australian-Chinese billionaire Chau Chak Wing set a national record last August when he paid $70 million for James Packer’s Vaucluse mansion La Mer.