The family of billionaire paper manufacturing magnate Huang Bingwen is whispered to have listed the Point Piper mansion Altona. Their unconfirmed asking price is $150 million.
They bought the eight-bedroom Wunulla Rd mansion for $61.8 million in 2016 when offered by low-key vendors, the Wang family. The Wangs had bought Point Piper’s former harbourfront party palace for $52 million in 2013.
The iconic Victorian Italianate home sits on a 2400 sqm holding with a boatshed, following a proposed subdivision sale of the tennis-court block that failed to proceed due to neighborhood objections.
Altona – once dubbed a home of conspicuous consumption – ranks among Australia’s most famous trophy homes since featuring in a late 1980s TV production by the late expat presenter Clive James. Previous owners include Deke Miskin, a teenage magazine publishing industry entrepreneur, and his wife Eve, who hosted many glamorous social events, as did the Handbury family during their earlier tenure.
Over the years, a who’s who of potential buyers have considered owning Altona, including actor Russell Crowe, who looked at buying it in 2007.
Sydney’s priciest trophy home sale remains the $130 million paid for Uig Lodge in Point Piper in late 2022 by Atlassian co-founder Scott Farquhar and his wife Kim Jackson. This year’s highest sale has been nearby Rockleigh at about $85 million, having come with $100 million hopes. The pale pink home on a 1284 sqm Wolseley Rd harbourfront holding had previously traded when Philip and Valmae Rundle bought it in 1978 for $325,000.
There has been considerable family disharmony surrounding the estate. The nation’s priciest current listing remains the nearby mega-mansion Wingadal, which comes with $200 million-plus hopes. The talk is offers will need to be substantially more than $200 million for Aussie Home Loans founder John Symond to sell.
You Might Be Interested In:
