Shopping bag tycoon’s $75m trophy home for sale – realestate.com.au

A $75m waterfront is the latest uber high end home to hit the Sydney real estate market.

The six-bedroom, six bathroom home on the Harbour’s edge in sought-after Rose Bay in Sydney’s affluent Eastern Suburbs joins the likes of John Symond’s $200m+ Point Piper pad as a potential new home for the super rich.

The prime beachfront pad on Dumaresq Rd has a centrepiece infinity pool that features gunbarrel views of the Sydney Harbour Bridge.

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The lavish Bruce Stafford-designed beachfront residence is on the market quietly via Brad Pillinger of Pillinger and Michael Pallier of Sotheby’s, with buyers spotted going through.

It’s understood there are hopes of about $75m

Owners Frank Qiang Geng, who has made big bucks recycling shopping bags, and Juanjuan Zhao are believed to have bought the Point Piper waterfront Rockleigh for between $80m and $85m, the year’s highest purchase.

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Point Piper’s Rocklea sold for around $85m.

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The Rose Bay waterfront, with its easy harbour access and stunning views has grown exponentially in popularity and value in recent years.

A crumbling beachfront recently sold for about $30m in April, despite the owner doing little to it since buying it for $147,000 more than half a century ago.

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This 70s house sold for $30m.

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The now removed realestate.com.au ad said the five-bedroom house on a 676 sqm block at 7 Collins Ave was “in liveable condition” but only “while you design your dream home”.

That was also listed via Pallier.

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The highest price in the street is $35m for the luxurious home of Laser Clinics founder Alistair Champion and his wife, Kate.

They’d bought their beachfront for $18m in 2019 so they made a $17m profit.

No.7 may be in serious need of a reno, but apart from its 15m of beachfront it offers incredible harbour views.

It’s close by the acclaimed Catalina restaurant and Rose Bay Ferry Ferry Wharf, which adds to the growing appeal of Rose Bay, as do the plentiful local parks, the always evolving village nearby and the flat, easy walking terrain.

Elizabeth Bay’s Spanish Mission mansion Boomerang, which starred in the Tom Cruise epic Mission Impossible 2, sold for $80m in February in another massive money transaction.

Historic Boomerang sold for $80m earlier this year.

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It features in Tom Cruise’s Mission Impossible 2.

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While, Point Piper’s Rocklea, Australia’s most expensive knockdown at $85m and the ‘ultimate status symbol’ sold last month.

Aussie Home Loans founder John Symond has listed his Point Piper mansion Wingadal for sale in May and the price is expected to exceed $200m, smashing the current national home price record of $140m.

Designed by renowned architect Alec Tzannes, the groundbreaking residence at 2 Wingadal Pl sits on 2,676 sqm (equal to four normal housing blocks) of prime harbourfront real estate.

Symond says he’s selling because he wants to travel more.

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