Northbridge’s record smashing $15.5 million trophy sale to Chinese buyer

A waterfront residence in Northbridge smashed the suburb record by more than 70 per cent when it sold on Saturday afternoon for about $15.5 million.

The trophy home was only on the market for a month before it was snapped up by an offshore buyer.

The result tops the previous high of $9.05 million set by the same residence when it sold in 2008 to Justin Reizes, who retired in March as head of equities giant Kohlberg Kravis Roberts.

It was previously owned by Jinwen Lin, a former director of Goldin Group, and Yu Lian Xu.

It is the third time the property has set a suburb high, having first done so in 2003 at $7.13 million when it was sold by Tenix executive director Robert Salteri and his wife Kelly.

Clearly there is much to recommend about the east-facing, waterfront residence. Set on a private beach with a boatshed and pontoon, it has landscaped gardens, swimming pool and an interior design by Hare + Klein.

The result is the third highest on the lower north shore this year. The top result was in March at $16.5 million for the Cremorne waterfront residence of investment banker Campbell Lobb and his wife Susie when they sold to a buyer from China. Origin Energy’s outgoing chief Grant King and his wife Jenny then sold their Neutral bay trophy for about $16 million last month.

Source Credit: Fairfax

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