Chinese car dealers fork out $62m for trophy home

The husband and wife team behind Mainland China’s largest Toyota dealership have won a Vaucluse trophy home in the year’s biggest residential deal.

38a Wentworth Rd, Vaucluse. NSW Real Estate.

The husband and wife team behind mainland China’s largest Toyota dealership have forked out $62m to purchase a Vaucluse trophy home in the year’s biggest residential deal so far.

Car dealer Liaoning Huang, who goes by the name of Helen Huang, and her husband Henry Huang, are the purchasers of the seven bedroom and three kitchen mansion in Sydney’s elite eastern suburbs.

The multi-level mansion with commercial lift comes replete with a 20-car garage and the sale is Australia’s sixth highest residential deal of all time.

Offloaded by high flying corporate lawyer John Landerer and his wife Michelle, the Wentworth Road, Vaucluse house, had been quietly on the market for the past three years at a $63m price tag.

The selling agent Michael Pallier of Sothebys could not be reached for comment on Thursday night, while Mr Landerer declined to comment.

However, publicly available records reveal that the purchaser is Laoning Huang and it is understood the purchase has settled.

The strong sale has been the talk of prestige residential circles all week given the house is not a waterfront, but it does sport views of Sydney Harbour as well as the Opera House. It also has two swimming pools plus a separate function centre replete with its own garage.

Known as Ganeden, the property was built by the Landerer’s in 2007 on a 2400sq m site with double frontages to Wentworth Road.

It is unclear where the high flying corporate lawyer John Landerer and his wife Michelle plan to relocate to.

Vaucluse is home to many of Sydney’s elite business executives including multi-billionaire Harry Triguboff who owns a double fronted waterfront and Leon Kamenev the Ukrainian co-founder of Menulog who is building a multi level mansion across five waterfront blocks.