Parents buy $15 million USD mansion for kids as dormitory

Posted on Sep 3 2013 - 4:51pm by admin
rooftop view of mansion

A rooftop view of the mansion.

Chinese parents in Australia have purchased a $15 million USD mansion ($17 million Australian dollars) for their children to be their dormitory.  The mansion is located at the top of a luxury condominium complex that has 3 bedrooms with marble interiors, a 270 degree bird’s eye view of the city and harbor, an outdoor entertainment area and a rooftop swimming pool.

An industry insider said a transaction had been finalized on the night of August 23, and on August 27 the CBRE Sales Agency had issued a confirmation statement saying the mansion had been sold.  A person familiar with the situation said, “I believe the purchaser’s children are going to university here.  They’re going to use this as their dorm.”

inside room looking out

The view from inside the mansion.

The mansion known as “The Sulman” did not have much demand, and the sales agency even dropped the initial asking price by $1 million USD to make it more attractive to potential buyers.  A representative from the CBRE Sales Agency made a statement saying, “This is an unordinary transaction, and it evidently shows the market for mansions is currently gaining momentum.”

Contrary to this statement, there currently is another unsold rooftop mansion known as “The Residence”, which has an asking price of $13.5 million USD ($15 million Australian dollars).

skyline of australia

A skyline view of Australia.





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