Two palatial Chinese-style mansions that cost their billionaire owner a whopping $75 million to build have sold for nearly $2 million each.
The sprawling properties, which were built side by side on Coffey Road and Beenyup Road in Banjup, south Perth, were snapped up for just $1.95 million each.
The unfinished properties, which have been dubbed the “Chinese-style Confucius Mansion,” were purchased by a Victorian non-profit organization based in China.
The houses were never inhabited and the original owner, James Tan, flew back to China for family reasons and is believed to have no plans to return.
The mansions were built on two blocks of land totalling 4.48 hectares, but are not yet fully completed.
The stunning properties feature over 80 rooms, including 20 en-suite bedrooms and several kitchens.
The houses also house a library, a museum, a multi-purpose theatre and large conference rooms and dining rooms.
There are also swimming pools and four courtyards, designed according to the teachings of Feng Shui.
The sprawling properties (pictured) which were built side by side in Banjup, south Perth, were snapped up for just $1.95 million each.
Built between 2014 and 2017 by Apex Construction, the complex was designed in a fusion of ancient Chinese Jingpai and Huizhou architectural styles.
One house was designed for everyday living and the other for entertaining.
The sale of the mansions was handled by Effective Property Solutions on behalf of magnet and electronics giant Superworld Holdings, headed by Mr Tan.
Founder Erwin Edlinger said 250 high-end buyers from Asia and Australia had expressed interest.
“I have never seen such rampant demand for a real estate campaign in my 20-year real estate career,” he said. Domain.
“We received… multiple cash offers and requests for quick settlements, with some buyers even willing to purchase without seeing the property.”
The property on Coffey Road had previously been estimated to be worth about $3.2 million, according to figures from CoreLogic.
The stunning properties (pictured) feature more than 80 rooms, including 20 en-suite bedrooms and several kitchens.
The mansion on Beenyup Road was estimated to be worth $1.68 million.
An unconditional cash offer was accepted before the auction began.
Mr. Edlinger said the new owner is seeking to finish construction on the mansions before preserving the properties for cultural reasons.
