Al Bustani Real Estate Development

Chinese investors are looking for homes in the Sydney CBD, with the sale of the iconic Chatham Street home to Chinese buyers set to go ahead.

Chinese buyers are set to buy the Chatham House in the CBD and convert it into luxury flats in a deal expected to be worth more than $1 million, according to real estate agent Craig Hwang.

“It’s going to be a very exciting development in the future,” Mr Hwang said.

“We are going to have a couple of towers in the city and we want to put a lot of money into the development.”

Mr Hwang believes the Chaussee Street property, which was a Chinese family’s dream home before it was sold in 2012, will attract buyers from the mainland.

“I think that it is a property of a great historical significance that people have a deep affection for and it will also attract Chinese tourists and that’s the way we like to go,” he said.

Mr Hang said the buyers would use the property to build an underground garage to store equipment, while the front end will also have a garden.

“It will be a great amenity to the community,” he added.

The sale is expected to take place next month, and it is believed the buyer is planning to take the property out of state.

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