Paul Espie and his wife Ros at their grand Darling Point home, which has sold after almost two years on the market. Picture: Bob Barker
The $25m Darling Point gothic mansion Callooa, owned by investment banker Paul Espie and his wife Ros, has sold after almost two years on the market.
The five-bedroom, five-bathroom circa 1850s home on 1500 sqm at 5 Bennett Ave — “Chez Espie” for 30 years — was first listed in October, 2018 with Michael Dunn of Richardson and Wrench and Peter Blacket of the Blacket Agency.
Dunn was tight-lipped when contacted by the Wentworth Courier this morning, unable to reveal the sale price due to confidentiality agreements.
However, he confirmed that an eastern suburbs family had snapped up the extraordinary historic residence in the past few days.
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Callooa was built circa 1850s.
It has beautiful harbour views and is on a 1500m block.
And the mere fact that it has exchanged shows that buyers continue to have confidence in Sydney’s uber prestige market as we head towards spring, despite us being in the midst of the coronavirus pandemic.
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It follows the sale of “well over $21m” little more than two weeks ago — reported exclusively by the Wentworth Courier — of one-time Sleeping Giant owner Fred Bart’s Bellevue Hill Art Deco mansion by LJ Hooker Double Bay’s Bill Malouf and Margaret Morosi.
That was purchased by property developer Willi Phillips.
Grand interiors.
The home, which comes with a pool, is an extraordinary property.
It’s understood the Callooa has sold for more than that.
The Wentworth Courier toured the grand home when it was first listed and I was blown away by its grandeur.
Mr Espie, who is the founder of Pacific Road Capital and a director of Liberal Party think-tank the Menzies Research Centre, had recalled the story of when the late Labor legend Gough Whitlam came to visit.
Mr Espie told me: “He said ‘Oh, so this is Chez Espie’ … typical pomposity from Gough Whitlam.”
Gough and Margaret, who lived across the road in an apartment tower, were impressed by the amazing beauty of the heritage treasure designed by architect Francis Clarke and the massive restoration project commissioned by the Espies.
The couple rebuilt the entire western wing.
It features a modern kitchen and family room opening to the lawn and harbour view.
They’d been in no great rush to sell, prepared to hold out for their double-digit price.
But they’d been wanting to downsize and spend more time at their Dungog farm.
The beautiful home has glorious harbour views from everywhere.
When the Espies bought it for $5.25 million in 1988, they consulted the best heritage architects – including former National Trust President Richard Rowe and Richard Mackay — and rebuilt the entire western wing with a modern kitchen and family room opening to the lawn and harbour view.
Throughout the timber floors have all been restored; the garage and driveway built to reflect the style of the house. A pool has also been added and the garden redone.
The house, lawn and garden has been the scene of countless family and charity events.
Mrs Espie had said at the time: “It is a good time for us to leave Callooa — a big move that Paul and I can do together for the next phase of our lives in Sydney.
“My hope of course is that another family will come and enjoy what we have in living here over 30 years.”
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