Vitamin Industry Bosses Snap Up Gorgeous $16.5 Million Lavender Bay Residence
โ€” 23 August 2019

Vitamin Industry Bosses Snap Up Gorgeous $16.5 Million Lavender Bay Residence

โ€” 23 August 2019
John McMahon
WORDS BY
John McMahon

While this property might not turn many heads from the outside, onlookers definitely shouldnโ€™t judge this Lavendar Bay residence by its cover.

The art-deco palatial home found at 15 Waiwera Street has just sold for $16.5 million to Jina Chen and her husband Alex Wu, founders of vitamin supplements company Natureโ€™s Care. The record sale makes this home the most expensive to be sold on the lower north shore this year, according to Domain.

The six-bedroom, six-bathroom residence with a pool was previously a 1930โ€™s apartment block when it was last sold in 2008 for $5.3 million by Morgan Williams and Giuseppe Palumbo, founders of music label Central Station Records.

It was snapped up by interior architect and investor Christina Wood and her husband who commissioned a major redesign of the property to convert the entire block into a single home, adding a top-floor parentโ€™s retreat, internal lift, swimming pool and separate guest quarters.

The homeโ€™s newest owners started Natureโ€™s Care in 1990 and last year sold a controlling stake of the business to Beijing-based private equity fund JIC Investments and Tamar Alliance Fund for $360 million.

Belle Property Mosman who listed the address wonโ€™t disclose the exact sale price, but sources confirmed with Domain that the Lavendar Bay residence was let go for more than $16.5 million, just eclipsing the $16.28 million high record set in 2017 for a waterfront apartment in the same area.

RELATED: How Americaโ€™s $1 Billion USD Property โ€˜The Mountainโ€™ Sold For Just $100,000

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John McMahon
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John McMahon is a founding member of the Boss Hunting team who honed his craft by managing content across website and social. Now, he's the publication's General Manager and specialises in bringing brands to life on the platform.

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