The harbourfront Double Bay trophy home of former Multiplex chief Andrew Roberts and his wife Andrea has been bought by Malaysian-born billionaire Seng Huang Lee and his wife Peggy Yeoh Pei Chee.
The property tycoon is the executive chairman of the lifestyle and tourism property group Mulpha Australia.
He owns in Woollahra having paid $7.5 million in 2007 for the inter war Edgecliff Road duplex home of Alex and Lynette De La Vega.
The $38 million Gladswood Gardens property comes with six bedroom, eight bathroom on the northern point of Double Bay.
The 1145 square metre north-facing holding has a three-level house completed in 2005 after Roberts paid $10.1 million in 2003.
It was sold by the Bondi Beach-bound Multiplex scion Andrew Roberts who had it listed through Bill Malouf of LJ Hooker in April.
Andrew Roberts, the former chief executive of Multiplex, has spent a record $25 million off the plan for a luxury Bondi Beach penthouse in the Pacific Bondi Beach complex.
Mr Roberts now heads RF Capital, which invests in commercial property, listed equities, private equity, and resources.
The house, which comes with heated pool, four-car garage, jetty and mooring, was once part of the Gladswood House grounds until subdivided by the Parisi family in 1950 for 10,000 pounds.
Bill Malouf briefly had it for sale in 2010 when it was tipped to sit between the Sydney records set in 2008, when Craig-y-Mor fetched $32.4 million and Coolong sold for $45 million to Ivan Ritossa, the head of foreign exchange at Barclays Capital, through estate agent Bill Bridges.
Title Tattle recalls the property was sold to Andrew Roberts through Laing & Simmons Double Bay agent Bart Doff by the Ho hotel investment family.