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A dilapidated Chinese-style mansion on the fringe of Perth’s southern suburbs that cost its owner $75 million is reportedly being auctioned and could sell for a fraction of its original price.
Located in Banjulpu, the two residences cover an area of 4.5 hectares and have a total of more than 80 rooms, including 20 bedrooms with en suite bathrooms, several large conference halls, a library, multi-purpose theater, museum, economic, trade and cultural exchange center, and multiple kitchens with private dining rooms.
A bird’s eye view shows two Chinese luxury homes expected to attract buyers, built at a fraction of the estimated $75 million.
The building was constructed by Apex Construction using materials sourced from China to maintain the authenticity of folk-style architecture, while the four courtyards embody the tradition of Feng Shui teachings.
Effective Property Solutions is selling the properties at Coffey Road and Beenyup Road on behalf of electronics and magnetics giant Superworld Holdings, which is run by Chinese billionaire James Tan.
Agent Leon Siew said he expected there to be a lot of interest in the property.
He said: “Although it is a bit run-down, this Chinese-style mansion is very majestic. It is said that the owner spent about $50 million to build it in 2014.”
“After the house was completed, the owner returned to China for family reasons and, sadly, the property has never been used.”
Founder Erwin Edlinger said the team was receiving enquiries around the clock from all over the world, including high net worth Asian buyers, institutions and associations from across Australia.
“This included multiple cash offers and requests for quick settlement, with some buyers even willing to purchase without even inspecting the property,” he said.
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