No. 1/40 Smith St, Surry Hills, has a price guide of $1.2m.
One of Australia’s most respected art consultants, Mark Hughes, has listed his Surry Hills warehouse apartment in the renowned Spice Traders building.
Hughes, who spent more than a decade in New York including nine years as the Director of Galerie Lelong, established Mark Hughes Art Advisory in 2011 and works with individual collectors and corporate clients.
He bought the 90 sqm two-bedroom apartment with garage parking at 1/40 Smith Street for $800,000 in 2013.
It’s now listed with BresicWhitney’s Shannan Whitney with a $1.2m guide ahead of an August 29 auction.
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Mark Hughes at his home in Surry Hills home. Picture: Hollie Adams/The Australian
The apartments offers 90sq m of internal space.
The apartment offers separate living and dining areas beyond its entrance hall, a stainless-steel kitchen, timber floors and high ceilings.
Spice Traders was one of Surry Hills’s earliest “authentic” warehouse conversions, and Whitney recalls Platino Properties outbidding Kerry Packer to redevelop the building in the mid-1990s.
The nine apartments there are very tightly held. Optus Chairman Paul O’Sullivan has hung on to apartment 7 since paying $930,000 in 2000 according to CoreLogic. He’d bought it from Robert Rigby for $465,000 in 1996 when the conversion occurred.
And the apartment 9 two-level penthouse, a two-bedroom, two-bathroom apartment over 215 sqm with terrace, cost $1.35m in 2008 when Glen McGillvray and Nicole Solomon snapped it up.
Hughes and his partner, Mike, are planning to upgrade in Surry Hills.
Lend Lease chief sells
No. 17 Beresford Rd, Rose Bay sold in the mid-$9m range.
Every buyer’s agent in town has been through the Rose Bay home of the director of Urban Regeneration at Lend Lease, John Burton, and wife MaryLouise.
The couple purchased the home for $8.75m in October 2018, via Raine and Horne Double Bay principal Ric Serrao.
But sources have revealed the five-bedroom, three-bathroom Smyth & Smyth architects-designed home with pool at 17 Beresford Rd had sold again off-market — and in the mid-$9m range.
The agents this time were Knight Frank duo William Laing and Adam Ross.
Neither would comment.
The rumour mill has Simon Cohen as representing the buyer.
The Burtons are believed to be moving to the Southern Highlands.
Another big sale
No. 25 Kambala Rd, Bellevue Hill, sold for $8.5m.
There was another hush-hush sale in Bellevue Hill this week, with the Kambala Road home in the one family for 80 years trading at the mid-$8 million mark.
The four-bedroom home on an 897 sqm block, which records show is in the name of Bettena Henty, sold through Ray White Woollahra’s Randall Kemp, though Ray White TRG’s Cae Thomas is understood to have introduced the buyer.
Thomas was tight-lipped when contacted. Two sources falsely claimed the Kambala Road buyer was dentist Angelo Sklavos and his wife, Fiona — whose family own Peters of Kensington. They recently sold their Bundarra Rd home in the high-$6 millions through Ray White Double Bay’s Ashley Bierman and Cae Thomas. But the Sklavos’s are still apparently on the home hunt.
Mosman-based Henty had been renting the family Kambala Rd home at $2,850 a week, CoreLogic records show.
Mum’s the word
No. 28 Blake Street, Rose Bay, sold for $2.5m.
The Blake Street, Rose Bay home of Tina Luciano — mother of Hedge Fund manager Rob Luciano — sold for $2.5m via Ray White TRG principal Gavin Rubinstein and Cae Thomas.
Thomas also sold a Beaumont Street home around the corner for above $3.8m in five days.
Then he sold the house next door for above $3m.
And Rubinstein sold a Dover Heights home for $4.85 that could only get $4.5m a year ago.
“Stock levels are at an all-time low for houses,” said Rubinstein.
Streets ahead
No. 1/41 Francis Street, Bondi Beach set a street record.
Decent apartments in good locations are being snapped up quickly at big prices.
A two-bedroom, two-bathroom apartment at 1/41 Francis Street, Bondi Beach with rare garage sold for $1.58m — $80k above reserve and a street record — after just two weeks on the market.
Ray White Double Bay’s Adam Reichman had 100-email inquiries and 50 groups through.
In end, he had three groups fighting over it, hence the premium price. The buyer was an investor who will no doubt find tenants easily given its proximity to Bondi Beach.
Despite being in an older-style block, it had a lot going for it, including the covered terrace that opened to a garden with a huge Banksia tree that gave it privacy from the street; the modern kitchen with Smeg appliances, along with the timber floors and high ceilings.
Flying high
No. 32 Greville Street, Clovelly, has a $3.7m guide.
The five-bedroom, three-bedroom home of retired pilot Christopher Holt and wife Suzanne, at 32 Greville Street, Clovelly, has a $3.7m price guide ahead of an August 13 auction.
Property records show the couple, who are downsizing to the central coast, bought the 241 sqm property for the grand sum of $47,000 in 1978.
And 20 years ago they knocked down the existing home and did a total rebuild. Ray White Double Bay principal Elliott Placks said the home is attracting interest from local families.
My pick
No. 28 Park Parade, Bondi has a $2.5m guide for an August 29 auction.
Young families can’t get enough of the four-bedroom doer-upper with park views at 28 Park Parade, Bondi.
It’s owned by schoolteacher Catherine Prichard, the daughter of real estate mogul Barry Prichard.
With a $2.5m price guide ahead of an August 29 auction, Angus Gorrie of McGrath had 21 groups through Saturday’s first open home.
“There was a really good vibe,” Gorrie said. Character charms include high ornate ceilings and picture rails.
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