In Sydney’s eastern beaches Justin Topper, of the AI Topper leather goods family, has listed his beachside block of land in Tamarama with price expectations over $30 million.
That is more than double the $13.25 million Mr Topper paid Marco Rossi, chairman of one of Australia’s largest private construction groups, Built, and his partner, Stephanie Stokes when he purchased the block in 2021.
Artist’s impression of the DA-approved design for the contemporary Tamarama home comes with a pool and wellness centre.
However, the price uplift comes as little surprise, given the coveted beachside enclave’s slew of hefty sales in recent times, which have more than outstripped Sydney’s broader growth and recalibrated coastal property prices.
The biggest of these deals was the $45 million May sale of iconic Tamarama headland property Lang Syne, purchased by New York-based adman David Droga, which broke Australia’s coastal record for a single residence.
Other big-ticket sales in aptly nicknamed “Glamarama” include online gaming entrepreneur Nik Robinson and wife Kim’s $25.5 million purchase of another Thompson Street home in 2021, along with Di Maloney’s $29.2 million spend on a dated block of five apartments on Kenneth Street the same year.
Given those sales are all presumed knock-down rebuilds, Mr Topper’s 584-square-metre beachside block on Thompson Street is one time-consuming step ahead: it comes with DA-approved plans for a substantial trophy dwelling.
The DA – which has been years in the making – has been activated with excavation works completed. However, construction of the luxury build is yet to commence.
The future trophy home, named Monocline House, features five bedrooms, seven bathrooms and parking for three cars. The plans were designed by San Francisco-based architecture firm Wallace Cunningham.
When complete, the home will be one of the eastern beaches’ largest, with over 700 square metres of internal living across five lift-connected levels, complete with pool and wellness centre, and northerly ocean views across Tamarama.
In addition to the current DA, Mr Topper has commissioned acclaimed architecture firm Woods Bagot to design internal modifications that are pending approval.
It is understood Mr Topper – who also owns North Bondi’s Di Napoli Pizzeria – has listed to capitalise on Tamarama’s runaway growth and find a buyer willing to oversee the build and realise the block’s potential.
Mr Topper is a third-generation member of the Topper family, who own AI Topper. Established in 1954, the business is a market leader in Australia’s animal hide and skin industry, with processing facilities in Queensland, NSW, Victoria and South Australia.
The block is listed for sale through EOI with Ray White Double Bay directors Ashley Bierman and Elliott Packs.
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