Property developer Peter Zhu has pulled out on an agreed $5.55 million Bellevue Hill house purchase, forgoing a $277,500 deposit in the process.
The failed deal comes four months after Mr Zhu exchanged on the property with an initial 5 per cent deposit paid up front, and a further 5 per cent deposit due last month to hold the property over an extended eight-month settlement.
An artists impression of the DA-approved residence on Bundarra Road.
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