With its expansive seaside views, infinity pool, and ideal hillside location in one of Sydney’s most affluent neighborhoods, it was not surprising that a Chinese millionaire purchased this opulent property for $12.8 million in 2012.
However, real estate brokers have disclosed that Huang Xiangmo’s genuine motivation for purchasing the multi-million dollar residence at Beauty Point, Mosman, was because he believed the neighborhood had strong feng shui.
According to Richard Simeon of Simeon Manners Property, the deal only proceeded after the businessman flew his feng shui consultant in from China to evaluate the residence.
His colleagues and other Chinese buyers became extremely interested in the acquisition after learning about the excellent ‘energy flow’ in the area.
However, as a sign of respect, potential purchasers informed estate agents that their mansions could not be “bigger or better” than the billionaire’s “King of the Mountain” home.
Chinese billionaire Huang Xiangmo splashed $12.8 million on this lavish hillside mansion in 2012 at Beauty Point in Mosman, an affluent suburb on Sydney’s north shore
With its sweeping oceanfront views, infinity pool and prime hillside position, it came as no surprise when the mansion was snapped up
They added that many Chinese investors believed that by residing nearby, Mr. Huang’s ‘good fortune’ would spread to them.
One Mosman real estate agent told Fairfax Media, “When Mr. Huang was looking to buy, we were also looking for houses for his associates, but they weren’t able to buy until Mr. Huang had bought his ‘King of the Mountain’ house.”
And their homes couldn’t possibly be better or taller than his on the slope, according to what we understood.
The wife of Wang Wenjing, the richest software entrepreneur in China, spent $7 million on a beachfront property at Beauty Point in 2014, further enhancing the area’s image abroad.
Al and Joan Clifford’s house on the same north-facing shoreline sold to an Australian-Chinese couple for almost $8.5 million.
Mr. Huang, 46, also known by his official name of Huang Changran, is an active political donor who has contributed more than $1 million to both of Australia’s major political parties through his family members and businesses.
In addition to a few real estate projects, Mr. Huang gave $1.8 million to the University of Technology Sydney to start the Australia-China Relations Institute and another $1 million to the Westmead Children’s Medical Research Institute.
Estate agents have now revealed that the prospective buyers said that their mansions could not be ‘bigger or better’ than the billionaire’s ‘King of the Mountain’ house’ as a mark of respect, pictured is the living room of the home
The luxury home in Beauty Point, Mosman, has stunning panoramic views out onto the ocean from its hillside position
The moden, open-plan kitchen and living room area boasts a panoramic view of the Mosman waterfront
The lavish mansion features a lush garden and opens into the dining room with waterfront views
In December, he made an additional $3.5 million donation to Western Sydney University in support of an Australia-China Institute for Arts and Culture. The federal government has approved a $2 billion Australian farm investment proposal including Mr. Huang’s Yuhu Group.
Mr. Huang has looked into the idea of growing his Yuhu Group, although he was absent from his own business’s annual meeting in Shenzhen last month, where the company shifted its expansion ambitions away from the Chinese market and toward Australia.
The sale of the $12.8 million mansion in Beauty Point, Mosman, sparked a flurry of copycat purchases in the area
The design of the home means that there is access to the garden from all rooms, to make the most of the entire breathtaking site
All the walls in the home are insulated and the cross ventilation system and adjustable shading devices regulate the temperature extremes
He plans to receive his passport the following month and is currently applying for Australian citizenship.