Real Estate

Elizabeth Bay trophy home Oakburn has $10m to $11m guide

Elizabeth Bay trophy home Oakburn has $10m to $11m guide
Written by The ReReport
As seen in the Source link, written by on 2019-12-05 07:38:38

88 Elizabeth Bay Rd, Elizabeth Bay, has expectations in the $10 million to $11 million range.

The newly renovated 1870s Elizabeth Bay trophy home Oakburn has hit the market with expectations in the $10 million to $11 million range.

The Italianate villa at 88 Elizabeth Bay Rd — now being offered via Richardson and Wrench Elizabeth Bay gun Jason Boon in an expressions of interest campaign — has been owned by arts patrons Julian and Lizanne Knights since 2015 when they bought it at auction for $7.4 million.

Mr Knights, who is co-chair of Australian Committee at Human Rights Watch along with being founding partner of private equity group Ironbridge, and his wife have spent a small fortune replacing the kitchen and bathroom which now boast luxury imported finishes.


Sutton car dealer family sell in Point Piper

Banker’s Rose Bay home sells for $10.5m

A new Poliform kitchen.

New designer bathrooms.

The state-of-the-art Poliform kitchen has European appliances and two of the four bedrooms have stylish ensuites.

All up there are three designer bathrooms, plus a guest powder room.

The couple had moved from the Ercole Palazetti-designed apartment block Villard, which Mr Boon sold for them for $8 million.

The deputy chairman of Nine Entertainment, Nick Falloon, is set to be confirmed as the $16 million buyer of the Villard penthouse — the one that car dealer Laurie Sutton had bought for $15.5 million in May, setting a suburb record, before selling it soon after through Mr Boon.

Full of charm.

Soaring ceilings.

It’s been a big year for Mr Boon, who also sold the Justin Hemmes’s landmark Potts Point property for just under $13 million just hours before it was to go under the hammer in May.

‘He wanted a trophy’

It was property developer Tony Benjamin who bought the three-level Macleay St building with a 1930s facade that houses Merivale’s Fish Shop, a shop and four apartments above.

Street appeal.

Outdoor entertainment.

The area, current favourite of eastern suburbs downsizers, is set to be the scene of considerable development in coming years, with the recent $34 million sale of the women’s refuge site in Greenowe Ave, Elizabeth Bay, via Ray White’s Craig Pontey and CBRE’s Peter Krieg and Ben Stewart.

Site has $100 million price guide

And a 2,170 sqm Potts Point site, occupying 87-93 Macleay St and 10-12 Hughes St that’s billed as “the decade’s most exciting development opportunity”, remains for sale via Michael Khouri of JLL, colleague Ben Hunter and Mr Boon.

There are expectations of $100 million — undoubtedly it’s set to be a luxury apartment block for downsizers one day. Apartments could offer stunning uninterrupted views to the Harbour Bridge, Opera House and city skyline.