50A Gilbert St, Dover Heights is set to go under the hammer on June 23 with no auction guide.
The Sydney home of a “high-roller” mother and daughter, charged over their alleged roles in a $70m fraud syndicate, has hit the market as a Mortgagee in Possession sale.
The four-bedroom, four-bathroom semi with double garage and city skyline views at 50A Gilbert St, Dover Heights in Sydney’s East last traded for $12.98m in February last year, records show, and remains in the name of Thi Hue Hoang.
But land title documents show a mortgage to the National Australia Bank and a caveat by the NSW Crime Commission.
The property is now listed for June 23 auction with no price guide via Raine and Horne Double Bay principal Ric Serrao and Kate Woods, and the instructions are that it “must be sold at auction”.
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The property last traded for $12.98m last February.
City skyline views.
Police had reportedly swarmed the luxury residence, with its heated mineral pool, gym, steam room, cinema and six-person lift last November, arresting Anya Phan and her daughter Thi Ta.
It’s alleged that Ms Phan, who claimed to be a feng-shui master and fortune teller, exploited vulnerable clients within the Vietnamese community, encouraging them to take out loans on the promise that there was a “billionaire” in their future.
Gold bars and casino chips were reportedly seized. It’s alleged the woman was a VIP customer at a Sydney casino and that Phan laundered more than $520,000 in a two-month period alone.
The Dover Heights home required repayments of $56,000 a month.
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There are four bedrooms.
It comes with a heated mineral pool, gym, steam room, cinema and six-person lift.
Ms Phan was charged with 39 offences, including knowingly directing activities of a criminal group, while her daughter was charged with a range of offences including dishonestly obtaining financial advantage etc by deception.
The case is due to be heard at Downing Centre Local Court on July 16.
Ahead of the June 23 auction, the agents are now telling potential buyers the following:
“As the vendor is acting as Mortgagee in Possession, they have instructed that no price guide is to be quoted.
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Thi My Linh Ta, who was arrested by Strike Force Middleton officers at Dover Heights.
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Anya Phan has been charged with a string of offences.
The property must be sold at auction, and the vendor is committed to a transparent sales process to ensure the market determine the property’s value.”
The market’s changed considerably since last February, so it will be interesting to see how close it gets to to the $12.98m it achieved back then.
The agents are quoting two local sales since then: a four-bedroom semi with pool and district views at 15A Lord Howe St, Dover Heights, which achieved $9.7m last December; and a brand new architecturally designed three-level semi with lift and Bridge views at 7A Portland St, Dover Heights, which achieved $12.5m last March.
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