{"id":43396,"date":"2023-07-02T12:49:28","date_gmt":"2023-07-02T00:49:28","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=43396"},"modified":"2023-07-02T12:56:50","modified_gmt":"2023-07-02T00:56:50","slug":"meet-the-37-year-old-who-bought-a-20-5-million-house-with-no-mortgage","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/meet-the-37-year-old-who-bought-a-20-5-million-house-with-no-mortgage\/","title":{"rendered":"Meet the 37-year-old who bought a $20.5 million house with no mortgage"},"content":{"rendered":"<p><strong>PHOTO: The 1963-built residence on 1975 square metres was previously owned by\u00a0Frederick Chilton, son of\u00a0Brigadier Sir Frederick Chilton, and sold to commercial property businessman\u00a0John Virgona\u00a0and his wife\u00a0Anna\u00a0in 2011 for $2.1 million.<\/strong><\/p>\n<p>In the high-end real estate market of the upper north shore, a prominent figure named Alex Chao Duan has made waves with his recent purchase of a magnificent property worth $20.5 million. This acquisition, previously owned by commercial property businessman John Virgona and his wife Anna, not only shattered local records but also became the first sale to break the prestigious $20 million threshold in the area.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"JVhPsLjPmI\"><p><a href=\"https:\/\/www.propertynoise.co.nz\/who-are-the-movers-and-shakers-of-the-nz-real-estate-industry\/\">Who are the &#8216;MOVERS AND SHAKERS&#8217; of the NZ real estate industry? BUY NOW $19.99<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content lazyload\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Who are the &#8216;MOVERS AND SHAKERS&#8217; of the NZ real estate industry? BUY NOW $19.99&#8221; &#8212; Property News NZ | propertynoise.co.nz\" data-src=\"https:\/\/www.propertynoise.co.nz\/who-are-the-movers-and-shakers-of-the-nz-real-estate-industry\/embed\/#?secret=LvsVy4pp0R#?secret=JVhPsLjPmI\" data-secret=\"JVhPsLjPmI\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-load-mode=\"0\"><\/iframe><\/p>\n<p>The Virgona residence underwent a stunning transformation by Playoust Churcher Architects prior to its record-breaking sale.<\/p>\n<p>However, little information is available about the individual who has now elevated the upper north shore&#8217;s housing market to an esteemed status of trophy homes. Duan&#8217;s representative, the buyer&#8217;s agent involved in the transaction, made it clear that his client prefers not to discuss his business or property interests in Australia. Selling agent Gary Ward from C21 similarly remained tight-lipped about the details.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-medium wp-image-43397 lazyload\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2023\/07\/Alex-Chao-Duan-300x150.jpg\" alt=\"Sydney luxury property\" width=\"300\" height=\"150\" data-srcset=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2023\/07\/Alex-Chao-Duan-300x150.jpg 300w, https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2023\/07\/Alex-Chao-Duan-768x384.jpg 768w, https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2023\/07\/Alex-Chao-Duan-465x233.jpg 465w, https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2023\/07\/Alex-Chao-Duan-695x348.jpg 695w, https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2023\/07\/Alex-Chao-Duan.jpg 800w\" data-sizes=\"(max-width: 300px) 100vw, 300px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 300px; --smush-placeholder-aspect-ratio: 300\/150;\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>Fortunately, corporate records shed some light on Duan&#8217;s background. He serves as a director for OMC Electronics, the Australian distributor of the Chinese smartphone brand Oppo. Formerly known as Oppo China-Australia, the company&#8217;s recent financial report reveals a net loss of $8.2 million for the last fiscal year, with liabilities exceeding total assets by $48 million. Despite this, Duan&#8217;s significant real estate investment demonstrates his confidence in the market.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"DOdDHrYJlW\"><p><a href=\"https:\/\/propertynoise.co.nz\/au\/sydney-harbours-heritage-island-will-be-returned-to-indigenous-australians\/\">Sydney Harbour&#8217;s heritage Island, will be returned to Indigenous Australians<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content lazyload\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cSydney Harbour\u2019s heritage Island, will be returned to Indigenous Australians\u201d \u2014 Property News Australia\" data-src=\"https:\/\/propertynoise.co.nz\/au\/sydney-harbours-heritage-island-will-be-returned-to-indigenous-australians\/embed\/#?secret=u3UjruB0Lo#?secret=DOdDHrYJlW\" data-secret=\"DOdDHrYJlW\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-load-mode=\"0\"><\/iframe><\/p>\n<p>Sydney&#8217;s business leaders are seizing opportunities in the property market ahead of the traditional spring selling season, aiming to sell, purchase, or settle before any decisive market movements occur in the second half of the year.<\/p>\n<p>As for other notable transactions, the four-bedroom house in Clifton Gardens, purchased for $1.1 million in 1993, has returned to the market under the guidance of De Brennan&#8217;s Jonathon De Brennan. Although an official price guide has yet to be established, expectations hover around $10 million.<\/p>\n<p>SOURCE: <a href=\"https:\/\/www.smh.com.au\/property\/news\/meet-the-37-year-old-who-bought-a-20-5-million-house-with-no-mortgage-20230629-p5dkex.html\">SMH<\/a><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"RxCSYcRDyS\"><p><a href=\"https:\/\/propertynoise.co.nz\/au\/tigers-ex-girlfriend-kicked-out-of-mansion-accusing-him-of-shocking-acts-watch\/\">Tiger&#8217;s&#8217; ex-girlfriend KICKED OUT of MANSION accusing him of &#8216;shocking act&#8217;s | WATCH<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content lazyload\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cTiger\u2019s\u2019 ex-girlfriend KICKED OUT of MANSION accusing him of \u2018shocking act\u2019s | WATCH\u201d \u2014 Property News Australia\" data-src=\"https:\/\/propertynoise.co.nz\/au\/tigers-ex-girlfriend-kicked-out-of-mansion-accusing-him-of-shocking-acts-watch\/embed\/#?secret=3RFqxfV9By#?secret=RxCSYcRDyS\" data-secret=\"RxCSYcRDyS\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-load-mode=\"0\"><\/iframe><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: The 1963-built residence on 1975 square metres was previously<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/meet-the-37-year-old-who-bought-a-20-5-million-house-with-no-mortgage\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":43400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478125618,478098512,478098521,478125624,478124483,478125623,478125621,478098519,478125619,478125617,478125622,478098579,478098510,478098509,478098536,478125620,478098618,478099073],"class_list":["entry","author-data123nz","post-43396","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-alex-chao-duan","tag-australia","tag-australians","tag-brigadier-sir-frederick-chilton","tag-c21-sydney","tag-gary-ward","tag-high-end-real-estate-market","tag-home-ownership","tag-john-virgona","tag-no-mortgage","tag-omc-electronics","tag-property-market","tag-property-news","tag-real-estate-news","tag-sydney","tag-sydney-luxury-property","tag-sydney-property","tag-upper-north-shore"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - 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