Stamford Residences penthouse in Sydney on the market for $18 million

09 Jun 02:00 PM
Su-Lin Tan
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One of China's best-known personalities and the wife of e-commerce billionaire Richard Liu, Zhang Zetian, has put her three-level penthouse at the top of Stamford Residences at The Rocks in Sydney for sale, with a price of $18 million.

That puts the expansive 598sq m property, which Ray White agent Michael Lowdon called "one of the most stunning penthouses to ever grace the Sydney marketplace",  at about $30,000 a square metre.

Recent new penthouses in the vicinity have sold for much more. Topping the list are the $26 million and $27 million penthouses atop the yet-to-build Opera Residences at the former Coca-Cola Amatil building at Circular Quay. They were sold  for about $95,000 a square metre.

Last week, one of the penthouses at AMP Capital's Loftus Lane project at its new Quay Quarter development sold for $17 million, a per-square-metre rate of $67,000.

The penthouse was bought for Ms Zhang shortly before she wed Richard Liu in Sydney in 2015. Supplied

These are record-breaking land rates compared to previous $50,000 a square metre records set in the Sydney CBD and the exclusive suburb of Point Piper.

But Mr Lowdon said some of the higher prices were necessary as a premium for off-the-plan apartments which were years away from completion.

"Developers have gotten wise into pricing, not the prices in today's market but when they settle in the years ahead, therefore $50,000 $60,000 even up to $80,000 per square metre will be achieved for some of the new apartment," he said.

In today's terms, Ms Zhang's luxury 28th floor four-bedroom penthouse at 171 Gloucester Street, was well-priced, Mr Lowdon said.

She purchased the five-year-old unit for $16.2 million in 2015. It was developed by Stamford Land Corporation and designed by the Kahn Finch Group.

The apartment enjoys a view of the Sydney Harbour Bridge. Supplied

It has a separate media room, a connoisseur's kitchen, a powder room and two roof terraces. The property shares a 24-hour concierge and a communal pool and gymnasium.

Ms Zhang, then 23, bought the apartment just before her marriage to Mr Liu, ranked 16 on China's rich list with a net worth of $US10.7 billion.

Mr Liu, whose Chinese name is Liu Qiangdong, is the founder, chairman and chief executive of Nasdaq-listed Chinese e-commerce firm JD.com. It competes with online retailer Alibaba.

He has also partnered with ASX-listed companies including a2 Milk and Treasury Wine Estates to create an "Australian mall", to sell their products in China. 



Read more: http://www.afr.com/real-estate/stamford-residences-penthouse-in-sydney-on-the-market-for-18-million-20170609-gwo4fp#ixzz4kPnnGt4c