This property in Helensvale, Queensland, was bought for $2.5 million by a Chinese national. Photo: Supplied
This property in Helensvale, Queensland, was bought for $2.5 million by a Chinese national. Photo: Supplied

Chinese buyer forced to sell Queensland mansion

CHINESE property buyers are being forced to sell a $2.5 million property in Queensland as part of a federal government crackdown on illegal purchasers by foreigners.

More than $9.7 million worth of real estate is set to be forcibly resold as a result of foreign nationals illegally holding Australian property, including a $5.2 million Melbourne mansion bought by Chinese businessman Li Jian Guo in March last year.

The Hawthorn East was sold in May 2014 for $5.2 million. It was bought without government approval, and will now be resold Of the seven properties in the latest round-up of forced divestments, five are in Victoria, one in Queensland, and one in New South Wales.

A waterfront mansion in Helensvale that last traded for $2.5 million in 2010 has also been issued with divestment orders. It is owned in a company name Sky Universe, which is owned by a 31-year-old from China, Chen Zou.

The 9647-square-metre property with a second dwelling and a swimming pool on the property was listed for sale in July with an asking price of more than $3.5 million, and reduced to sell in September for more than $2.3 million.

More on this at Brisbanetimes.com.au



How to activate your free Daily Telegraph subscription

Premium Content How to activate your free Daily Telegraph subscription

Did you know you can get even more – for free?

‘We need to step up’: koala champion honoured

Premium Content ‘We need to step up’: koala champion honoured

A wildlife warrior has received the top honour in the Tweed Shire’s Australia Day...

Citizen of the Year asks new arrivals to ‘create community’

Premium Content Citizen of the Year asks new arrivals to ‘create community’

She invited new residents to give to "the causes that need it”