An Empty Block Of Land In Syd Harbour Sold For $27M & Damn, That’s Some Expensive Dirt

Sydney Real Estate in the harbour

A new harbour front property in Sydney has just sold for a whopping $27 million but there’s a sneaky twist. This piece of real estate is legitimately empty. No house, no apartment, just soil and weeds. Tell me there isn’t a housing crisis one more time.

Strap in folks, because there’s an absolute treasure trove of cooked details about this property. Perhaps the most borked one is that before it was sold, it was set to be developed by former big-time real estate developer Ron Medich.

In 2018, Medich was convicted of a murder that took place in 2009. The former developer who was slated to organise the build is now serving a 30-year sentence behind bars. Yes, somehow you read that all correctly.

Fast forward to the current day and this plot of real estate in Point Piper shifted hands to Alexandra and Gabriel Jakob.

According to the two buyers are supposedly “millennial tech investors” which has gotta be the most annoying job title ever. Not only are they young, they’re also rich. You get one or the other, not both. Get outta here.

The previous owner who sold them the Sydney property was a Chinese bloke named Wu Li. Li pocketed a sweet $5 million in profit from the sale which is eye-watering to say the least.

Landlords have the easiest “job” in the world, I swear to God. Do nothing all day and make absolute bank. Living the dream.

Another noteworthy detail is that Li’s father Li Guoqiang is a high-flying billionaire who owns Zhongsheng Group, one of the biggest car dealerships in all of China.

Honestly, this entire story could be someone’s specialist topic on a quiz show. There’s enough trivia here to satisfy even the most dedicated Tuesday night pub trivia team.

If you’re currently on the hunt for an affordable property in Sydney, look a lot further than this. A LOT further.