Hunters Hill ‘abandoned mansion’ gets last-minute reprieve from mortgagee

On the Hunters Hill waterfront there is a grand European villa-style mansion that last sold for $9.08 million in 2012, making it the suburb’s highest sale for the year, and offering an impressive Sydney home for businessman Ma Kin Kwan.

At the time, the six-bedroom mansion with a Turkish spa, views to the Harbour Bridge and private berth was reported as one of an increasing number of high-end sales to cashed-up buyers coming from mainland China.

The five-bedroom house at Pulpit Point in Hunters Hill was the highest house sale in 2012 at $9.08 million.Credit: Domain

Unreported was the fact it was a cash purchase by Ma, although a Westpac mortgage was taken out in 2015.

Corporate records show Ma’s purchase coincided with his investment and a five-year stint as a director of Woden Retirement Development, which is part of the Hindmarsh construction and development giant headed by developer John Hindmarsh.

But little has been heard from the Ma family in recent years. The house at the end of Pulpit Point has stood empty for years, still with the owners’ personal belongings and effects in place.

Locals, who call it the “abandoned mansion”, say it was as if the owners went out unexpectedly one day and never returned. There were teacups on the kitchen bench, shoes lying by the front door, the letter box overflowing, and the lawn left unmowed.

The five-bedroom house features a private berth in the marina out front and views to the Harbour Bridge.Credit: Domain

Adding to the intrigue was a notice stuck to the door earlier this year that stated: “The property is in possession of the mortgagee acting under power of sale.”

But there will be no mortgagee-in-possession sale. An updated search shows that last month the Westpac loan was paid off, and in its place the Mas have taken out two mortgages from non-banker lenders, totalling more than $8 million.

What’s more, the family’s personal effects have been removed, and the six-bedroom residence has been recarpeted, painted, and the curved marble staircase polished.

The Mas have listed it with Ray White Kingsgrove agent George Boghos, who said the owners are in China now and do not want to talk about the sale. He added that he has had cash offers of $10 million and $11 million but will not set a guide until after this weekend’s first open inspection.

Niche sale

The Marrickville house Roma sold for $6 million to James Browning, who is coming from Alexandria.Credit: Domain

James Browning, founder of touring company and artist booking agency Niche Talent, is set to emerge as Marrickville’s $6 million record-setter in coming weeks.

Browning’s purchase of the 1894-built house with the Palm Springs-style rear extension, known as Roma, was sold by Cobden Hayson’s Alex Mastoris on behalf of Julian and Natalie Oliver, topping the suburb high by more than $1.1 million.

Political analyst Rod Cameron sold in Balmain for about $2.9 million.Credit: Peter Rae/Fairfax Media

Meanwhile, the Olivers look to be headed to Balmain, where they have paid about $2.9 million for a sandstone house sold by legendary Labor Party strategist Rod Cameron and fellow Labor pollster Margaret Gibbs, of ANOP Consumer Research.

CobdenHayson’s Matt Hayson declined to reveal the exact sale result.

Good sports

As liquidators take control of the sports, games and furniture retailer T & R International directed by Rita Shanshan Han and headed up by Tony Hui Xiong, the couple’s grand resort-style mansion in Turramurra has come up for sale with a $10 million guide.

The seven-bedroom mansion gives no indication of the financial troubles of its owners. The 10,000-square-metre property is set behind a gated driveway and boasts park-sized gardens, as well as a championship-sized tennis court, swimming pool, fully equipped cabana with pizza oven, and garaging for 10 cars.

The Turramurra home of Tony Hui Xiong and Rita Han Shanshan is for sale three years after they bought it for $9.7 million.Credit: Domain

But on title the registered mortgage has been joined in recent months by four caveats from small business loans and finance providers.

The liquidators report more than $7.2 million is owed by the company to its creditors.

Since March, NSW Fair Trading has received almost 400 complaints related to false representations, unreasonable delays and partial deliveries, prompting the department to issue a public warning in September not to deal with the company.

Queensland’s Fair Trading received more than 50 complaints about the company, and followed with its own public warning.

The couple bought their Turramurra home in 2021 for $9,751,000, just two months after they purchased a $1,675,000 block of land in Wahroonga. Sotheby’s Wendy Xu has the listing.

Olympic standard

Roycroft Stables at Mount White is for sale for the first time in more than 40 years.Credit: Domain

Three time Olympic equestrian Vicki Roycroft has listed her Mount White equestrian property, Roycroft Stables, with a $6 million guide with Sotheby’s Harriet France.

Vicki Roycroft is a three time Olympic equestrian.Credit: Stephen Baccon

Roycroft, who represented Australia at the Olympic Games in LA in 1984, in Seoul in 1988 and in Atlanta in 1996, has owned the property since 1981, paying $153,000 for the 16 hectares with then husband and fellow Olympian Wayne Roycroft.

At the time the Roycrofts were coming from across the road at Pokey Hill Stud, which was later renamed Strawberry Hill by ad man John Singleton and sold for more than $30 million last year to Coolmore Australia boss Tom Magnier.