{"id":32481,"date":"2021-05-23T11:13:32","date_gmt":"2021-05-22T23:13:32","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=32481"},"modified":"2021-05-23T11:13:32","modified_gmt":"2021-05-22T23:13:32","slug":"mother-and-son-splash-100m-on-sydney-property-in-just-five-months","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/mother-and-son-splash-100m-on-sydney-property-in-just-five-months\/","title":{"rendered":"Mother and son splash $100m+ on Sydney property in just five months"},"content":{"rendered":"

PHOTO: The Bellevue Hill mansion sold by the Ho family was built by Spencer Simmons, the founder of real estate agency Laing + Simmons.<\/strong><\/p>\n

If there is a single factor fuelling Sydney\u2019s bull run of trophy home sales this year, it isn\u2019t cashed-up expats or even interest rates. It\u2019s 28-year-old William Wenhao Wu and his property developer mother Jing Wang.<\/p>\n

Mother and son\u2019s insatiable appetite for real estate had already caught\u00a0Title Deeds\u2019<\/em>\u00a0attention\u00a0in April when it was revealed Wu had bought more than $50 million worth of houses in the previous 12 months, and that family portfolio blew out to almost $100 million when Wang\u2019s property was added to the mix.<\/p>\n

The family haven\u2019t stopped since, adding another $65 million worth of eastern suburbs houses in recent weeks, including a Bellevue Hill mansion with tennis court, swimming pool and 16-car garage owned by Singapore\u2019s Ho family.<\/p>\n

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\"Fergs<\/a><\/p>\n

There was much secrecy over the Bellevue Hill sale when sold by Christie\u2019s Ken Jacobs, but it is expected to have exchanged at the top of its $24.5 million to $26 million range, and a company controlled by the Wang family\u2019s corporate entity WW Australia lodged a caveat on the title this week.<\/p>\n

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The Vaucluse house with no pool or tennis court but knock-out harbour views sold for more than $23 million.<\/strong><\/em><\/figcaption><\/figure>\n

Among the other recent purchases by the family owned companies is a\u00a0run-of-the-mill house in Vaucluse with no pool or tennis court but a good view\u00a0sold by Laing+Simmons\u2019 Steven Zoellner for more than $23 million, a two-storey house in Vaucluse for about $7.6 million and the Du family\u2019s Point Piper house for close to $10 million.<\/p>\n

All up, that makes the Wang family the buyers of all four trophy home sales of more than $20 million this year in Vaucluse and Bellevue Hill.<\/p>\n

It\u2019s no doubt a credit to success of the family\u2019s\u00a0Chinese-backed property development company Mayrin Group, of which Wu has been a director since he entered the workforce six years ago.<\/p>\n

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