Upper Hunter graziers and pastoralists Rob and Camilla Cropper have sold their Bellevue Hill trophy home for $40 million, in a secret off-market deal inked on Tuesday night, according to local real estate sources.
The sale is yet another example of the unrelenting strength of the pointy end of Sydney’s property market, given the $40 million sale price is 609 per cent more than the $5.64 million Croppers paid for the Kambala Road abode in 2014 when they purchased the three-level home from Nudie Juice CEO Andrew Binetter.
Robert and Camilla Cropper have sold their Bellevue Hill designer home for $40 million.
However, the remarkable increase in price isn’t down to market forces alone. The couple – who are based at Greenhills, their family farm in the Upper Hunter town of Willow Tree – have created a new luxury home with in-demand Sydney architect Luigi Rosselli.
The deal is understood to have been negotiated through Sotheby’s Michael Pallier, who declined to comment on the sale.
The property is on Bellevue Hill’s Kambala Road. Louie Douvis
The house was redesigned by architect Luigi Rosselli.
Prestige buyers agent Simon Cohen, of Cohen Handler, says the top end of the eastern suburbs market continues to be defined by a lack of stock.
“More and more sales are happening off-market, as there is very little high-end stock,” Mr Cohen said. “Now, most of the $40 million-plus deals are now done off-market,”
It’s the second recent trophy deal in blue-chip Kambala Road, following the $61.5 million sale of the next-door property by flower wholesaler Leo Lynch to freight boss Arthur Tzaneros, CEO of ACFS Port Logistics.
Australia’s most expensive semi … or trophy bargain?
Staying in Bellevue Hill, the founder of boutique travel agency Wall Street Travel, Ben Caplan, and his wife and property valuer Linda Martin have sold their semi-detached home for $15.6 million.
The property was sold at auction on Wednesday evening – kicking off with a $12 million bid – at agency TRG’s Rose Bay offices, where a local family outbid their rival with a $1000 bid that landed the hammer at $15.602 million.
The Victoria Road property features a pool and shared tennis court.
However, the four-bedroom Torrens title property, which shares a wall with an adjoining property, is not your typical semi.
The lift-connected, tri-level Victoria Road abode comes with a chef’s kitchen, pool and oversized office.
Australia’s most expensive semi (on left hand side) just sold for $15.6 million.
Selling agent Oliver Lavers, who sold the property alongside colleague and TRG co-founder Gavin Rubinstein, said the sale represented an Australian property record.
“This would be one of the highest prices ever paid for a semi-detached property,” Mr Lavers said. “But we saw value in it because it would also be one of the cheapest prices for a tennis court on Victoria Road.”
The tennis court is shared between the two attached properties. The just-sold property enjoys access on odd calendar days, while their neighbour takes to the court on even days, or, depending on neighbourly relations, doubles on demand.
In another example of exponential eastern suburbs’ price growth, the property last traded for $3.5 million in 2013, and has since undergone an extensive renovation.
Point Piper’s Darling offloads pricey penthouse
In Sydney’s Point Piper, Daniel Darling, founder of San Francisco-based VC fund Darling Ventures, has sold his top-floor designer apartment for $11 million.
The 1930s apartment occupies the top floor of an art deco block of four, and has undergone a luxury revamp helmed by architecture firm Tobias Partners with interiors by Tamsin Johnson.
Daniel Darling has sold his Point Piper luxury apartment for $11m.
The luxury penthouse comes with Harbour Bridge views framed by 12-metre windows, along with lime and oak floors. The property sold through The Agency’s Ben Collier.
Daniel Darling is the son of Caledonia Private chairman Michael Darling and food and travel writer Manuela Darling-Gansser.
Fund manager snaps up beach shack
North to Queensland’s most expensive street where Hyperion Asset Management’s Jason Orthman and his wife Susan have paid $8.7 million for a three-bedroom 1960s oceanfront beach shack on Mermaid Beach’s Hedges Avenue.
Records show it’s the first time the property has traded in more than 30 years, after Brisbane accountant James Carolan purchased the property for $670,000 in 1992, most recently selling through Mark Winsen of Leo and Co Real Estate.
It’s one of the last original beach shacks remaining on the glitzy strip. The Orthmans will join other Hedges Avenue heavyweights including billionaire property developer Bob Ell and wife Bridget, who paid $22.6 million for a luxury oceanfront in 2020; Stone & Wood Brewing Company director Ross Jurisich and wife and Light Years Skin Studio founder Megan Jurisich, who paid $21.75 million in 2021; and mining billionaire Clive Palmer, who spent $12 million on a luxury beachfront home in 2018.
Jason and Susan Orthman have paid $8.7 million for this original-condition beach shack on Hedges Avenue.
TripADeal founder books in at Belongil
Staying by the sea, Byron Bay TripADeal co-founder Richard Johnston and wife Claire Alexander-Johnston have emerged as the buyers of $7.5 million home overlooking Belongil Creek.
TripADeal co-founder Rich Johnston has purchased a Byron Bay home near Belongil Beach for $7.5 million.
Mr Johnson co-founded online travel agency TripADeal alongside fellow Byron Bay local Norm Black in 2011, and later sold a controlling stake to private equity firm BGH Capital in 2020, before Qantas snapped up a majority 51 per cent stake last year for an undisclosed sum.
The home on Giaour Street is their second in the street – they purchased the property next door for $2.6 million in 2019 – and their latest in a string of properties in the region totalling more than $15.8 million. They bought the Uki Cafe beneath Mount Warning in September last year for $1.35 million, followed by the $4.375 million purchase of Temple Byron last November.
The timber beach house sits on about 1400 square metres overlooking Belongil Creek, about 150 metres from the highly coveted Belongil Beach, where hotel heavyweight Justin Hemmes recently spent $38 million on two holiday homes.
The Alexander-Johnstons’ latest purchase was sold by McGrath Byron Bay’s Will Phillips.
TripADeal co-founder Rich Johnston and wife Claire have paid $7.5 million for this tropical home overlooking Belongil Creek.
$23m slice of the Mornington Peninsula hits the market
Meanwhile, on Victoria’s Mornington Peninsula, childcare entrepreneur and director of PE firm Sprint Capital Darren Misquitta and his wife Karina have listed their 40-hectare oceanfront estate known as The Goslings for $23 million.
Mr Misquitta, who co-founded Oxanda Education in 2013, is hoping to more than double his money in eight years, having paid $9.32 million in 2016.
The Flinders property overlooks the Bass Strait.
The four-bedroom home sits on about 40 hectares of oceanside land.
The property is on offer through Zed real estate agents Zed Nasheet and Robert Curcio, who are betting on an international or interstate buyer to take the keys to the designer four-bedroom residence complete with commercial-grade shedding and three dams.
If the $23 million price is achieved, the oceanside property will be the third most expensive trophy home sale in the semi-rural holiday enclave, following two other sales over $23 million. These include the sale of former Swisse vitamins entrepreneur Radi Salek’s Musk Creek Road hobby vineyard for $23.4 million in October last year to Czech coal mine owner Alan Svoboda.
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