{"id":38932,"date":"2022-06-06T18:09:36","date_gmt":"2022-06-06T06:09:36","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=38932"},"modified":"2022-06-06T18:09:36","modified_gmt":"2022-06-06T06:09:36","slug":"what-next-for-point-pipers-bang-olufsen-house","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/what-next-for-point-pipers-bang-olufsen-house\/","title":{"rendered":"What next for Point Piper\u2019s \u2018Bang &#038; Olufsen\u2019 house?"},"content":{"rendered":"<p><strong>PHOTO: The Bang &amp; Olufsen house last traded in 2013 for $33.5 million. Photo: Supplied<\/strong><\/p>\n<p class=\"first-para\"><a href=\"https:\/\/propertynoise.co.nz\/au\/?s=Point+Piper&amp;submit=Search\">Point Piper<\/a>\u2019s trophy home colloquially known as \u201cthe Bang &amp; Olufsen house\u201d has, for almost a decade, stood as an unofficial monument to the wealth and stature of its rumoured owner Yafu Qiu, head of Chinese textile giant Shandong Ruyi.<\/p>\n<p>But early this year, creditors and liquidators started circling Ruyi\u2019s debt-laden fashion subsidiaries, and it seems the Qiu family hopes to make what one source dubbed a \u201cquiet exit\u201d from the landmark Sydney house.<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/point-piper-waterfront-akuna-with-rare-pagoda-boathouse-sells-for-a-massive-sum\/\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/04\/Point-Pipers-waterfront-mansion-460x270.jpg\" alt=\"Sydney Sotheby\u2019s International\" width=\"460\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/04\/Point-Pipers-waterfront-mansion-460x270.jpg\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/point-piper-waterfront-akuna-with-rare-pagoda-boathouse-sells-for-a-massive-sum\/\" rel=\"bookmark\">Point Piper waterfront \u2018Akuna\u2019 with rare \u2018pagoda\u2019 boathouse sells for a MASSIVE sum<\/a><\/h2>\n<\/header>\n<\/div>\n<p>The waterfront property, nicknamed by Elton John given its resemblance to a high-tech stereo, was last sold in 2013 for $33.5 million by Seven commercial director Bruce McWilliam to a beneficial trust fronted by Shandong Ruyi\u2019s former Australian boss Tony McKenna.<\/p>\n<p>At the time, the Shandong Ruyi was known for its $232 million purchase of Cubbie Station and its accompanying licences to store more water than Sydney Harbour, but that ended in March, when Macquarie Asset Management bought the company\u2019s remaining 51 per cent stake.<\/p>\n<p>More recently, a slew of the company\u2019s fashion subsidiaries have been making headlines globally given troubling debt levels. This year alone, the British tailoring brand subsidiary Trinity Limited has been placed in liquidation as creditors circled its Lycra business, and Qiu and his daughter Chenran Qiu have been removed from the board of the French fashion firm SMCP after a loan default.<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/point-piper-mansion-on-the-best-street-in-australia-stuns-with-world-class-views\/\"><img decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2018\/11\/Wolseley-Road-in-Point-Piper-takes-out-top-place-as-most-popular-street-in-Australia.-460x270.jpg\" alt=\"Point Piper\" width=\"460\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2018\/11\/Wolseley-Road-in-Point-Piper-takes-out-top-place-as-most-popular-street-in-Australia.-460x270.jpg\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/point-piper-mansion-on-the-best-street-in-australia-stuns-with-world-class-views\/\" rel=\"bookmark\">Point Piper mansion on \u2018the best street in Australia\u2019 stuns with world-class views<\/a><\/h2>\n<\/header>\n<\/div>\n<p>And all while Chenran and her husband Jerry Liu recently revealed their involvement in the Bang &amp; Olufsen house after each of their lawyers lodged separate caveats claiming their beneficial interest in the property.<\/p>\n<p>No doubt complicating matters for the Qiu family is McKenna\u2019s departure from the company last year and his appointment as chief of forestry company Midway in January.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.domain.com.au\/news\/what-next-for-point-pipers-bang-olufsen-house-1143147\/\">DOMAIN<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: The Bang &amp; Olufsen house last traded in 2013<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/what-next-for-point-pipers-bang-olufsen-house\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":38933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478121595,478121599,478098519,478098535,478099112,478111510,478116189,478116221,478109202,478113148,478104078,478104844,478121597,478098873,478098579,478098510,478098514,478098511,478098705,478098533,478098509,478121598,478121594,478121596],"class_list":["entry","author-data123nz","post-38932","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-bang-olufsen","tag-chinese-textile-giant","tag-home-ownership","tag-house-prices","tag-point-piper","tag-point-piper-home","tag-point-piper-house","tag-point-piper-mansion","tag-point-piper-property","tag-point-piper-real-estate","tag-point-piper-townhouse","tag-point-piper-waterfront","tag-point-pipers-trophy-home","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-news","tag-shandong-ruyi","tag-the-bang-olufsen-house","tag-yafu-qiu"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What next for Point Piper\u2019s \u2018Bang &amp; Olufsen\u2019 house? 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