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Mandalay Fetches $40 Million

Sydney propertyAn article on the website Your Investment Property talks about Mandalay, a Point Piper property, which has been bought for $40 million. Spread over 1900 square metres, it has been purchased by a Chinese immigrant last month. Bill Webb, the former tobacco executive, had listed the property for $40 million- $45 million. The $40 million sale trumps the $39 million paid for the Villa Del Mare mansion last year. Mandalay, originally built in the year 1954, was redesigned four decades later in the year 1994, and has a good view of Manly and the Sydney Harbour Bridge.

You can read the original article here.