Wealthy ‘shoe king of China’ sells his luxury Sydney Harbour mansion for $4million LESS than he bought it for a year ago
- The ‘Shoe King of China’ sold the Mosman mansion for $4 million loss
- Home was bought for $20 million by a Chinese millionaire in his 30s- Ying Yu
- He’s connected to an investment company which finances developments
The ‘Shoe-King of China’ has lost millions of dollars after selling off a luxury Sydney mansion only a year after he bought it.
The home in Mosman sold for $20 million in October by Wilson Hui Xiong Xu, four million dollars less than the $23,733,800 he bought it for a year ago.
In selling the property he said goodbye to features like a cinema room, an infinity swimming pool and a climate controlled wine-cellar.
That’s a lot of room for shoes! The Mosman mansion has eight bedrooms and an infinity swimming pool
The original purchase broke the North Shore property record at the time, but was subsequently beaten by the sale of a home for $25 million by Sydney Swans Chairman Andrew Pridham as reported by realestate.com.au.
The property on Burran avenue has seven bedrooms, six bathrooms and a whopping eight-car garage.
It is described by real estate agent Ray White Lower North Shore as ‘one of Sydney’s finest trophy homes.
It was snapped up by another Chinese millionaire- 37-year-old Ying Yu- director of Dynasty Investment- according to realestate.com.au.
The new owner is connected to major property developments like a luxury hotel and the resort Club Med in Vietnam.
The home is full of luxury touches- including wooden floorboards and marble countertops
The new owner will enjoy panoramic views overlooking Sydney’s Middle Head