Cosmetic clinic owner Feng Wei Guo goes on $13.7 million Killara buying spree

A week after Pally Beauty Laser Clinics owner Feng Wei Guo and Biyu Lin took possession of the Killara mansion they’d paid $6.36 million for in April, the home of architect Jorge Hrdina and his wife Diana hit the market just 500 metres down the road.

Not content with their historic Federation residence, known as The Gables, the couple bought the Hrdina home instead.

And so they did, paying well above the $7 million guide set by Scott Farquhar, of McConnell Bourn Lindfield, to outlay $7.38 million for the contemporary and recently built residence with tennis court and swimming pool.

The home is on almost 1800 square metres on dress circle Springdale Road.

By the time the second purchase was completed the couple from China had outlaid a total of $13.74 million for real estate in the leafy upper north shore suburb, and paid more than $842,000 in stamp duty to state government coffers.

Records show three days after Feng and Biyu moved into their new residence, they returned their former, albeit brief, home to the market. They then listed The Gables and set a $6 million guide ahead of a September auction.

The Gables sold for $6.38 million, offering a $20,000 gain in six months, all of which would have gone towards the $385,690 stamp duty on the sale.

All up the three registered sales are the second, third and fourth highest sales this year in the leafy prestige suburb, topped only by the $8.8 million paid in May for an estate in Arnold Street.

Killara was the location of another quick resale this month when the historic Federation property Poitiers was resold just six months after the buyer from China purchased it.

Hongjuan Li bought the property with approval from the Foreign Investment Review Board in March for $5.45 million from the family of former Wallaby captain Stirling Mortlock. 

Six months later it was resold by Glenn Curran, of McGrath, for more than $6 million, reflecting a $550,000 gain in value in six months.

It was sold to the local family who were left as the underbidders when it first sold this year.

Mr Curran said the vendor had relisted the property when it became apparent the historic property would require restoration and maintenance.

Killara’s median house price has peaked at $2.9 million this year thanks to a 9.4 per cent rise in values in the past 12 months, according to Domain Data.

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