Huang Xiangmo associate Bo Zhang lists second Mosman house in a month

Businessman Bo Zhang, who rose from relative obscurity in 2017 after he bought a handful of houses in Mosman for more than $30 million in just two years, looks to be offloading the properties in double-quick time after a second house has hit the market within a month.

Mr Zhang is the business associate of exiled billionaire Huang Xiangmo, the former head of property giant Yuhu Group who had his Australian residency visa cancelled on character grounds in late 2018 and whose Australian assets are currently subject to freeze orders while the tax office pursues him for $140 million.

A month ago Mr Zhang, 34, listed the first of his Mosman properties for $8 million to $8.5 million. It was sold within weeks by Simeon Partners’ Richard Simeon.

The agent has declined to reveal the sale price but Mosman industry watchers say it sold for more than the guide, returning a handsome capital gain on the $6.6 million paid just two years earlier.

The more recent listing is a four-bedroom house on the same street purchased two years ago for $3.075 million from Mr Huang’s daughter “Carina” Shanyu Huang.

The house was a first-home purchase for Ms Huang in 2013, when she was aged just 22.

Both properties were owned by Mr Zhang’s investment vehicle GT Australia Investment.

Simeon, who has acted for Mr Zhang in the past, has set a $5.5 million guide ahead of a December 14 expressions-of-interest deadline.

Set on the high side of Bay Street, the property is just a few doors away from the Huang family home. Family patriarch Mr Huang became known as the “king of the mountain” given claims his associates wanting to buy in the same neighbourhood would not buy houses higher up the hill or of better quality.

Mr Zhang’s Mosman property spree includes four houses in close proximity to the Huang family home, including the house which recently sold for more than $8.5 million.

The first of his purchases was a five-bedroom residence with a swimming pool on Balmoral slopes, which he bought for $5.3 million and which remains his registered address.

A month later he purchased a Corben Architects-designed house in Beauty Point – almost directly behind Mr Huang’s property – for $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.

Mr Zhang had no property or corporate interests in Australia until five years ago, but his profile soared in 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.

In October Mr Huang, known on court documents as Changran Huang, took his fight against the court’s freeze orders to the High Court.