RESIDENTIAL PROPERTY

Point Piper mansion set to break auction record

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DESIGNER mansion Wingadal Place in Point Piper is going under the hammer next month and expected to sell for around $60 million, which will break $23 million record set 10 years ago.

1 Wingadal Place has been put on the market by environmental lawyer Sarah Cooke and neighbour to Aussie Home Loans founder John Symonds, who turned down a $100 million offer in 2017.

The exclusive 961 sqm five-bedroom and six bathroom home is one of three in the street and is the only property ever likely to be available for purchase for less than $A100 million.

Raine and Horne’s Alex Lyons and Luke Hogan are handling the campaign.

The twilight onsite auction will be conducted by star auctioneer Damian Cooley from Cooley Auctions on Saturday 23 November 2019.

The sale of the former French government’s consulate ‘Le Manoir’ in Bellevue Hill for $23 million to Lachlan Murdoch in 2009 produced the existing auction record. Le Manoir was also listed by Raine & Horne and Cooley handled the auction.

“We expect to see a considerable amount of interest for this home, including from Asia and Europe.

“There is no doubt that geopolitical factors such as the superpower trade wars, tensions in Hong Kong and the incredulity over Brexit are encouraging cashed-up foreign buyers and Australian expats to seek out well-located properties that haven’t compromised on quality in Sydney’s Eastern Suburbs to park some capital,” Hogan said.

Lyons said they have already fielded interest from locals as well as overseas buyers seeking to park their extensive wealth in a real estate haven such as Sydney’s prestige property markets.

The property was purchased as vacant land in 2006 by Cooke, an environmental lawyer and lecturer as part of her long-term plans to return home to Sydney after many years working and raising a family in London.

The house, which sets a new benchmark in design quality and environmental efficiency was built to an original plan by James Stockwell and Jonathan Temple, then lecturers at the School of Architecture at Sydney University and co-workers with Peter Stutchbury and Glenn Murcutt.

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