Multiple outlets report that a grand Bellevue Hill property associated with businessman Phillip Dong Fang Lee is tied to a $65 million mortgage held by a private lender. The reports say the mortgage forms part of the assets scrutinised by the Australian Taxation Office (ATO) during an audit of Lee’s affairs. The property is described as one of the area’s most prominent mansions.
According to the same reporting, the loan carries interest rates that can reach up to 18 per cent. The outlets frame these mortgage details as part of the broader financial circumstances examined by the ATO, focusing on how the property is financed and the level of interest payable under the private lending arrangement.
While the stories highlight the size of the mortgage and the potential cost of borrowing, they do not provide additional, consistent specifics about the loan’s terms beyond the reported interest rate range. The accounts agree on the central points: the $65 million figure, the private lender, the ATO audit context, and interest rates reportedly as high as 18 per cent.
