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Trophy Home Sales Go North and West

By Rebecca Zhang

Sydney’s prestige market is on the rise with a string of sales around the city.

Heading up a string of impressive sales this week is the Mosman house of former News Limited chief executive Ken Cowley, AO. The Clifton Gardens property was listed on the quiet in August 2012 for $12 million with Richard Harding and Geoff Smith, of LJ Hooker Mosman. While the agents won’t reveal the sale price, sources say it was in the double digits, which should well and truly cover the costs of the extensive renovations since the grand Federation house on a 1540-square-metre estate was purchased in 1981 from the Parkinson family.

Raising the bar in Balmain

The inner west did its bit for the prestige market this week with a Balmain record sale price of about $9 million for the waterfront home of hotelier Peter De Angelis. Built in 1884, the heritage-listed Maritime Villa on 686 square metres sold quietly off market through Matthew Hayson, of Cobden & Hayson, to the first buyer (as yet unnamed) to inspect the property.

Raising the bar in Balmain: Hotelier Peter De Angelis sold his house for a Balmain record.

De Angelis, who is the former boyfriend of TV host Samantha Armytage and the owner of a handful of hotels including the Coogee Bay Hotel, bought the freestanding house in 2003 for $4.8 million and renovated it into what is now an impressive contemporary four-bedroom house.

Bay watch

The London-based chairwoman of AL Reilly Enterprises, Anne-Louise Reilly-Akers, is selling her Darling Point home for $8 million. She bought the 635-square-metre penthouse in the Keltie Bay harbourside complex in 2001 for $4.1 million from former Macquarie Bank scion David Clarke. Before that it is said to have been the home of Hollywood star Julian McMahon. The whole-floor offering has three bedrooms, a terrace with harbour views, a cellar, gym and boat berth. It is listed with Bill Malouf, of LJ Hooker Double Bay.

Reason to celebrate

Party planner to the stars David Grant – best known as the man behind the Logies and other celeb fests – sold his Alex Popov-designed house in Castlecrag earlier this week at auction for $5.9 million. Grant, and his wife, Lisa, bought the 1383-square-metre property with Middle Harbour views in 1999 for $1.75 million from John David and his wife, Silvia. The Grants then built the landmark designer house with five bedrooms and upgraded the original 12-metre swimming pool. No word yet from agent Mark O’Brien, of Richardson & Wrench Castlecrag, on who bought the house.

A site to behold

Property magnate Denis O’Neil is offloading an 850-square-metre lot that adjoins his Bellevue Hill property. The level block with a northerly aspect and harbour views was purchased in 1994 for $1.25 million from the Consulate General of the Republic of Korea. The land has been valued at $5.75 million and is for sale through Michael Pallier, of Sotheby’s International.


Guess which Blue Mountains resort owners have put their five-bedroom Bellevue Hill pile up for auction? It comes just in time for their $55 million redevelopment of the Hydro Majestic Hotel.

On the record

High-end vendors selling beach properties can expect a little unwanted competition now the funky 1970s home of TransGrid chairman and former Deutsche Bank chief executive Chum Darvall and his wife, Belinda, has hit the market. The 2300-square-metre oceanfront block is perched above Gordons Bay with ocean views, a tennis court, self-contained studio and direct access to the water.

Darvall set a suburb record when he bought the five-bedroom property for $4,258,000 in 2001 from property developer David Boyer and his wife, Marilyn. McGrath’s James Dack and Bethwyn Richards are hoping it will break the local record again (now $6.9 million) when it goes to auction on June 8 for more than $7 million.

Designed to please

Interior designer Lynn Malone and her partner, Donna Eiby, chief executive of Bid Management International, have pocketed $1,235,000 for their Potts Point pad. Not a bad price by agent Jason Boon of Richardson & Wrench Elizabeth Bay for a one-bedder with no parking but, then, it was no doubt the styling by the head of LynnMalone design that won over buyer Gary Colder. Malone and Eiby bought the New York loft-style apartment in 2008 for $675,000, and are now said to be eyeing off stock at the nearby 10 Wylde Street development.

Making a splash

Duck Lake, the southern highlands home of Walter Cole and his wife, Susan Pugsley, is on offer for $1,495,000 following the couple’s plans to move to Britain. The two-hectare estate has a hobby vineyard and a 15-metre lap pool, the latter of which is said by the agent, John Renouf of Drew Lindsay Real Estate, to be a bow to the Cole family link with swimming through The Sydney Morning Herald Cole Classic.

Walter and Susan, ex-wife of former ABC managing director Jonathan Shier and former executive director at the Australian British Chamber of Commerce, moved to Duck Lake in 2008, having subdivided it off the Cole family’s adjoining original property, Virginia Park. The move is prompted by Cole’s new role heading up the London office of the China Confidential export and procurement consultancy.


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