China’s uniform tycoon makes his Sydney interests known

Chinese uniform tycoon Pan Peidong has not graced the pages of Title Deeds previously,despite owning a Sydney property portfolio valued in the tens of millions of dollars.

So,when he listed one of a slew of his Manly beachside investments this week for about $25 million,it seemed a good opportunity to introduce him to readers.

The Manly Greenhouse at South Steyne was purchased nine years ago for $8.95 million.

The Manly Greenhouse at South Steyne was purchased nine years ago for $8.95 million.Supplied

While Pan has a low profile in Australia,in China he is the founder,chairman and chief executive of one of China’s largest clothing manufacturers – Jiangsu Hengwei Industrial Group – supplying uniforms for not only the People’s Police but also the Supreme Court judiciary,Ministry of Public Security,Ministry of Justice,Ministry of Railway and People’s Liberation Army General Logistics Department.

Pan’s interest in Australia goes back years when he sourced the finest merino wool to process for the uniforms in China. In 2013,he bought his first property locally,a bolthole in McMahons Point’s landmark La Corniche boutique block for $6.8 million,followed by a 70-hectare retreat on Myall Lake in Bungwahl.

Pan’s corporate interests include retail shops and restaurants fronting Manly’s North and South Steyne purchased in 2014 and 2015 for close to $20 million.

Of those,one is known as the Manly Greenhouse,which hit the market this week with Colliers and Savills,prompting excited speculation as to whether Pan’s selling plans extend to more of his property.

Bondi Beach’s big deal

The Bondi Beach penthouse of Spencer Young sold on Friday,four years after it was first listed.

The Bondi Beach penthouse of Spencer Young sold on Friday,four years after it was first listed.Supplied

Bondi Beach’s record for a single apartment looks to have been reset at what sources say is close to $23.5 million for the penthouse of polo enthusiast and former hedge-fund operative Spencer Young.

The sale comesfour years after Young first let buyers through the apartment on the quiet,originally with $20 million expectations that were raised to $25 million at the start of an advertising campaign last year.

Spencer Young founded the $9 billion hedge-fund holding HFA.

Spencer Young founded the $9 billion hedge-fund holding HFA.

It was billed as sold on Friday afternoon but,given no comment from Raine&Horne Double Bay’s Martin Maskin,it was left to sources to suggest the $23.5 million result.

Young bought the top-floor spread set behind the Bondi Icebergs in 2006 for a then-high of $9 million,which was beaten in 2013 when Will Vicars purchased two penthouses in the Pacific Bondi Beach for $21 million.

Young’s sale tops the $20.1 million record for a single apartment set a year ago,whenonline gambling founder Joshua Chan bought from yachtie James Mayo.

Pearl Beach scores big

The Pearl Beach getaway of Kelvin Templeton sold for $6 million.

The Pearl Beach getaway of Kelvin Templeton sold for $6 million.Supplied

Former AFL player and Sydney Swans chief Kelvin Templeton has long made the trek north from his Melbourne home to holiday at Pearl Beach but it looks like that has come to an end given he has sold his getaway for $6 million.

Former Sydney Swans chief Kelvin Templeton lives in Melbourne.

Former Sydney Swans chief Kelvin Templeton lives in Melbourne.Luis Ascui

The Brownlow medallist bought his Hamptons-style beachfront retreat in 2014 for $2.94 million in a company name.

Coast Realty’s Stuart Gan did even better on the nearby sale of the beachside getaway of former Goldman Sachs managing director Robert Tsenin and his wife Estelle. It was listed with an $8 million guide late last year and sold for what local sources said was $8.15 million.

Sticker wars

Mosman-bound political lobbyist Michael Kauter and his medico husband Professor David Gracey no doubt drew a big sigh of relief this week when former PwC partner Greg Hall and his wife Jody bought their designer Woollahra home for about $10.25 million.

Prof David Gracey (left) and Michael Kauter (centre) with agent Randall Kemp before the sold sticker was removed.

Prof David Gracey (left) and Michael Kauter (centre) with agent Randall Kemp before the sold sticker was removed.Supplied

After all,the three-bedroom residence with basement garage and a swimming pool had already been scheduled for auction with a $10 million guide,only to see the competition cancelled by Ray White’s resident reality television star Gavin Rubinstein.

Rubinstein has no doubt been busy shooting season three of Amazon Prime’s local reality seriesLuxe Listings,which might explain why it was left to his competitor at Ray White Woollahra,Randall Kemp,to sell it.

Not that you’d know that to look at the billboard. Within a day of Kemp’s sticker going on the billboard,someone had torn it down and put up a sticker for Rubinstein.

Meanwhile,the Halls did well on the sale of their nearby home,Spicer House,which they bought in 2015 for $5.5 million from mining heiress Sarah Louise Fudge. It sold for about $15 million after just a week on the market through PPD’s Alexander Phillips.

Lucy Macken is the prestige property reporter and Title Deeds columnist for The Sydney Morning Herald.

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