Chinese Buyer set $12.5 million record for house sale in Hunters Hill

A waterfront mansion in Hunters Hill has sold for $12.5 million to mining executive and Beijing developer Yong Zhang, setting a new suburb record.

The six-bedroom residence on Chevalier Crescent sold after just one inspection by Zhang, the non-executive director of Western Australia uranium explorer Zeus Resources.

It comes a week after China's wealthiest software entrepreneur Wang Wenjing and his wife Sonia Yan Song settled on their $7.1 million Mosman waterfront home.

The big ticket sale tops the previous Hunters Hill record of $10.68 million set by the waterfront house next door in 2007 when it was sold by the Panzarino family.

A caveat on the 1700-square-metre property shows the title will be in Zhang's name and that of his Sydney-based son, developer Yi Cheng Zhang. - Source Fairfax

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