Michael Gu’s Mosman home hits the market for $9m

The Mosman home of fallen iProsperity founder Michael Gu has hit the market with a price tag of at least $9m.

10 Superba Parade, Mosman, the home of Michael Gu, is on the market for $9m. Picture: Lisa Allen

Once covered in Chinese language graffiti, the Mosman home of fallen iProsperity founder Michael Gu, who has fled Australia allegedly owing millions of dollars, has hit the market with a price tag of at least $9m. Selling agent Tim Foote of Belle Property said the graffiti spray over the Superba Parade property has been cleaned up and the contemporary house, which Gu paid $10m for in 2015, is on the market at the behest of administrators appointed by Credit Suisse. Gu, a former western Sydney telco salesman, hit the headlines with his attempts to buy hotel portfolios including one of Australia’s largest — some 23 hotels — owned by Accor Invest for a reported $300m last year. Gu is understood to have fled to Los Angeles. There’s no word yet on whether the nearby David Place, Seaforth, mansion where Gu’s mother resides is also going to hit the market. With panoramic water views the four-bedroom multi-level contemporary mansion is built across a 1012sq m site and is certain to command top dollar.

The Seaforth house where Michael Gu’s mother resides.

Weekender rides coastal wave

Philanthropist Sue O’Neill has sold her 29 Greenpoint Road, Pearl Beach, weekender for a suburb record of $5.85m. The selling agent, Central Coast Realty principal Stuart Gan, says demand for the NSW Central Coast has rarely been higher. He would not divulge the buyer of the stunning waterfront home, north of Sydney, which features four bedrooms and four bathrooms plus a near oceanfront swimming pool. “We are finding that low stock levels and increased demand for holiday and sea-change property is driving a two-speed real estate market with coastal regions surging while population centres lag behind,” says Gan. The agent recently sold a Umina Beach house on behalf of former Goldman Sachs banker Nell Hutton for a suburb record of $3.9m.

The Forest Glen private estate in Mulgoa has been listed for around $3m.

Bountiful country living

French Maran chicken breeder Heather Soane and her husband, Andrew Soane, are taking advantage of the COVID-driven preference for rural life and have listed their Forest Glen private estate for about $3m. The 10ha lifestyle property is in the rolling hills of Mulgoa, in the foothills of the Blue Mountains about 80km west of Sydney. The 145-175 Fairlight Road property features a north-facing architecturally designed country farmhouse including a caesarstone kitchen. Selling agent Deb Cullen of newly formed CullenRoyle says the property has five large bedrooms including a master suite and an Italian-tiled bathroom. There’s a 12.5m swimming pool and produce areas such as vegetable gardens, chicken coops and fruit and nut orchards along with beehives and olive trees. Expressions of interest close through Cullen and her partner Richard Royle on November 26.

Ma penthouse hits the right chord

Concert pianist Max Ma and his wife Louise Ma have listed their Sydney penthouse in the Goldsbrough building in Pyrmont for a November 21 auction. The northeast-facing penthouse covers 609sq m and includes a large 300sq m rooftop terrace, secure parking for four cars, as well as four bedrooms and four bathrooms. Ayre Realty’s Adrian Wilson and Craig Donohue are handling the campaign. The penthouse cost the Mas $2.95m in 2015. The penthouse has private lift access. Buyer interest is expected to be north of $5.5m.