Business associate of exiled billionaire Huang Xiangmo lists Mosman house for $8.5m

The Australian business associate of exiled billionaire Huang Xiangmo, Bo Zhang, listed one of his handful of high-end Mosman properties for sale on Friday with a guide of $8.5 million.

The six-bedroom residence is one of more than $30 million worth of property Zhang and his corporate interests purchased in Mosman’s Beauty Point over a two-year period from mid-2017 to 2019.

But Zhang’s penchant for Mosman’s high-end real estate is just a fraction of his property developer interests, which have soared since 2018 when he joined Mr Huang’s Yuhu Group to buy the old Goldfields House at the Circular Quay development and the Jewel development on the Gold Coast for $1.18 billion from Chinese developer Dalian Wanda.

The following year the then 32-year-old Mr Zhang bought out Yuhu Group’s half share after Mr Huang’s Australian residency was cancelled.

Mr Huang has been exiled from Australia since leaving for China in late 2018, shortly before his residency visa was cancelled on character grounds.

Mr Huang’s home in Mosman’s Beauty Point – long known as his “King of the Mountain” house given claims his associates couldn’t buy houses that were higher or better than it – and his other Australian assets remain frozen while the tax office pursues him for $140 million. His home in Hong Kong is now one of the city’s most expensive houses, purchased by his wife Fiona Jiefang Huang for $HK520 million two years ago.

On Wednesday, Mr Huang’s legal team took his fight against the freeze orders to the High Court, according to the Sydney Morning Herald.

Mr Zhang’s Mosman residence remains largely unchanged since it was purchased in a company name – GT Australia Investment – for $6.6 million in 2019.

Richard Simeon of Simeon Partners has set a November 6 auction.

The sales campaign comes just six months after former Yuhu Group executive Bai Lixiang’s Riverview home, owned by Zhang Dong Mei, was sold for $4.25 million.

Zhang’s run of high-end Mosman purchases began in mid-2017 when he purchased a contemporary five-bedroom residence with a swimming pool in his own name on Balmoral slopes for $5.3 million.

It is his registered address.

A month later he purchased a Corben Architects-designed house in Beauty Point – almost directly behind Mr Huang’s property – paying $8 million in a company name, Cuilam.

A year later his Cuilam company purchased another contemporary house in Beauty Point, this time a few doors up from Mr Huang, for $7.65 million from Vocus founder James Spenceley.

In 2019, Zhang’s GT Australia Investment purchased two more Beauty Point houses, both on the same street as Mr Huang, the first of which is the six-bedroom residence purchased for $6.6 million that hit the market on Thursday.

Later that year GT Australia bought down the hill for $3.075 million from Mr Huang’s daughter Carina Shanyu Huang.