PHOTO: Point Piper
Australia’s most expensive pile of housing rubble has sold on the Point Piper waterfront for the second time in a year.
This is the 740 square metres of Wolseley Road real estate that was bought by Hugh Huang, son of Shanghai shipping magnate Shannian Huang, in 2013 for $14.35 million from Sydney FC chairman Scott Barlow with DA-approved plans for a Tzannes Associates-designed residence.
The only improvement he made the block was to demolish the house – unless you also count the awkwardly positioned tree that has accidentally fallen into the harbour – before he sold it last December for $22.5 million to a mystery buyer from the lower north shore.
Bill Malouf, of LJ Hooker Double Bay, declined to offer up the latest buyer’s identity or the sale result, but Malouf was asking $22 million to $24 million, and sources say it sold in that range.
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