Chinese government buys $7m Toorak house

The People’s Republic of China has emerged as the buyer of an 80 square Toorak mini-manor.

It is speculated an education division will use the four-storey six bedroom dwelling for administration, teaching and to accommodate ambassadors – but this could not be confirmed.

The Selborne Road property was listed mid construction earlier this year by founder of online jobs website Jobs Jobs Jobs, Guy Sigston.

It is designed with an underground garage, five bedrooms, five bathrooms, a gym, cinema, cellar and pool.

A rooftop garden has city views.

The government is understood to be paying about $7 million.

Marketing agency Kay & Burton wouldn’t comment when contacted by Capital Gain.

The Chinese consulate-general is at Irving Rd, in the suburb.

The Selborne Rd holding is just over the fence from Miegunyah, an 8,800sqm estate former Pacific Dunlop head Phillip Brass listed last month with c$20m price hopes.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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