Bono's one-time Sydney holiday home sells for record $55.4 million

SYDNEY Thu May 2, 2013 1:58am EDT

Bono, lead singer of the band U2 and ONE organisation co-founder arrives for a reception with German Chancellor Angela Merkel and with youth representatives of the organisation ONE against human poverty in Berlin April 8, 2013. REUTERS/Tobias Schwarz

Bono, lead singer of the band U2 and ONE organisation co-founder arrives for a reception with German Chancellor Angela Merkel and with youth representatives of the organisation ONE against human poverty in Berlin April 8, 2013.

Credit: Reuters/Tobias Schwarz

SYDNEY (Reuters) - A Sydney harborfront mansion has been sold for a record-setting A$54 million ($55.4 million) to a Chinese-born businessman, reinforcing the city's growing status as a hot property destination, newspapers said on Thursday.

On the market for six years, the luxurious eight-bedroom "Altona" in exclusive Point Piper was bought in a secret deal with the businessman who currently lives in Melbourne, the newspapers reported.

The property and its heated waterside pool and boathouse, rented by U2 rock star Bono in 2006 for a family holiday, was last sold in 2002 for A$28 million.

While Australian capital city home prices rose by only 1.3 percent in March, top end Sydney properties have attracted strong interest from Chinese buyers, and almost three in four international sales have gone to Asian buyers in recent years.

The Altona sale beat the previous Sydney property sale record of A$45 million, but fell short of the national record of A$57.5 million paid in 2009 by mining services magnate Chris Ellison for a sprawling riverfront home in Perth.

(Reporting by Rob Taylor; Editing by Nick Macfie)

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