Bellevue Hill: Chinese millionaire William Wu goes on $50m Sydney property buying spree in one year


Wealthy Chinese businessman, 28, splashes out $50million on Sydney properties in just one year – after landing a high-flying job working for his mother

  • Multimillionaire millennial William Wu went on $50million property buying spree in the space of one year 
  • Bought a luxury six-bedroom $11.08million home in Bellevue Hill in Sydney’s affluent east in February 2020 
  • In March, his business interests spent $20million on a 1920s Vaucluse manor – double its 2015 selling price
  • Wu is a director of Sydney-based property developer Mayrin Group while his mother Jing Wang runs the firm

Advertisement

William Wu, 28, has spent $50million on a property buying spree in Sydney's affluent eastern suburbs

William Wu, 28, has spent $50million on a property buying spree in Sydney’s affluent eastern suburbs

A multimillionaire millennial has gone on a $50million property buying spree in the space of only a year.

Mayrin Group director William Wenhao Wu, 28, has bought a series of top-of-the-market properties in Sydney’s ritzy eastern suburbs – including a six-bedroom $11.08million home in Bellevue Hill in February 2020.

The luxurious property boasts a swimming pool and an open-deck terrace set across 1,168sqm of prime Sydney real estate.

His business interests then in March spent $20million on a 1920s Vaucluse manor that last exchanged hands for $9.3million in 2015.

In February, he also bought a home on Vaucluse Road for $7.4million – just months after shelling out $13million on another property in the leafy suburb. 

His mother Jing Wang is the managing director of Mayrin Group – a high-end Sydney-based, Chinese-backed property development firm – and herself recently acquired a $25million waterfront home on Carrara Road in Vaucluse. 

Living it up in the city: His property haul includes a six-bedroom $11.08million home bought in Bellevue Hill in February 2020

Living it up in the city: His property haul includes a six-bedroom $11.08million home bought in Bellevue Hill in February 2020

Pool party! The property boasts a swimming pool and an open-deck terrace set across 1,168sqm of prime Sydney real estate

Pool party! The property boasts a swimming pool and an open-deck terrace set across 1,168sqm of prime Sydney real estate

Stylish decor: The interior of the Bellevue Hill property is pictured. His business interests in March also spent $20million on a 1920s Vaucluse manor

Stylish decor: The interior of the Bellevue Hill property is pictured. His business interests in March also spent $20million on a 1920s Vaucluse manor

All the homes have been bought for the Wang family’s use, Ray White Double Bay’s principal Elliott Placks told Domain. 

The opulent Bellevue Hill home is set to be sold though after undergoing a renovation.

The family’s total spend in the past few years is close to $100million.

In 2015, Wu’s first Sydney home was a comparatively modest $2.39million one-bedroom home in Barangaroo.

Wu became a director at Mayrin Group in December 2015, according to his LinkedIn profile.

Before that he spent a year working as the assistant relationship manager at Bank of China International after working as a summer intern at the company.

He graduated with a 3.75 grade point average from the University of Toronto in 2014.

The opulent Bellevue Hill home's living room. By comparison, Wu's first Sydney home was a comparatively modest $2.39million one-bedroom home in Barangaroo

The opulent Bellevue Hill home’s living room. By comparison, Wu’s first Sydney home was a comparatively modest $2.39million one-bedroom home in Barangaroo

Pictured: The 1920s Vaucluse manor acquired by Wu's business interests. The property last exchanged hands for $9.3million in 2015

Pictured: The 1920s Vaucluse manor acquired by Wu’s business interests. The property last exchanged hands for $9.3million in 2015

In 2017, Mayrin Group spent $35million on an amalgamated residential site in Roseville in Sydney’s upper north shore after property owners banded together to sell their homes.

Wu said at the time he planned to build ’40 prestigious townhouses’ on the site. 

Mayrin Group’s website said the company sells $482million worth of property each year mainly focused in residential communities and retail. 

Advertisement

Leave a Reply