- Buyer of James Packer’s $70 million mansion revealed
- Why you should never buy a house sight unseen
Chinese billionaire Chau Chak Wing has revealed he bought James and Erica Packer’s Vaucluse mega mansion for $70 million without even seeing it.
In an exclusive interview, the property developer said he had lived at the Hunters Hill home his family bought for $3 million for more than 20 years, and wanted to upgrade to something “a little bigger”.
“I’ve lived in my home in Sydney for a long time now, there are more children at home, grandchildren, so I wanted to move into something a little bigger,” the media-shy Dr Chau said.
The family has owned their waterfront home in Hunters Hill since 1995.
“I never saw the [Packer] house, I don’t know who the former owners were.”
The chairman of Kingold Group said he had delegated responsibility for the purchase to his daughter Winky, who runs the family’s Chinese-language newspaper Australian New Express Daily.
Like the Packers, Dr Chou has impressive business and political connections.
In July last year, he sat in on a meeting with former prime minister John Howard and Chinese President Xi Jinping in Beijing, while more recently he accompanied rising Communist Party star Hu Chunhua – who some have tipped as Xi’s successor – as part of a travelling delegation to NSW in May.
Former prime ministers John Howard, Bob Hawke and Kevin Rudd have all been hosted by Dr Chau at his leafy Imperial Springs estate, which boasts a 27-hole golf course and an expansive museum with 20,000 Chinese antiquities.