Veteran fundie pays $18m for film producer's Manly home – The Australian Financial Review

by | Mar 1, 2024 | Engineer

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Veteran fund manager Barry Henderson and his wife, Heather, have paid $18 million for the Manly home of Liquid Capital Management’s Shahen Mekertician, who produced the film Lion starring Nicole Kidman and Dev Patel.
Settlement documents show Mr Henderson, once dubbed Colonial’s small-cap behemoth, has moved into the ocean-view home on coveted Bower Street in the Northern Beaches’ suburb of Sydney.
The 1980s-built home has panoramic ocean views.  
The Hendersons negotiated to buy the property before its scheduled auction last September, paying $18 million to Shahen and Linda Mekertician for the home they’d purchased in 1993 for $927,000. The property is one of the street’s many Catholic Church leaseholds.
Northerly views of the coast were the selling point for the five-bedroom, four-bathroom home built in 1989, with original slate floors and a gumleaf stained-glass feature window.
The Hendersons’ purchase on the non-ocean side of the street shows a willingness to dig deep for Catholic Church leaseholds. The sale came four months after Direct Health’s CEO Paul Dundon and his wife, Lucy, set the Manly residential record paying $25 million for a three-storey Bower Street home sold by Laing O’Rourke’s Cathal O’Rourke.
This original-condition Bower Street sold for about $18 million after last trading for $927,000 in 1993. 
Improved flexibility in the leasehold model was giving trophy home shoppers the confidence to spend big, said The Agency’s Jake Rowe, the selling agent representing the Mekerticians.
“Bower Street has continued to be one of the strongest selling streets on the northern beaches, and leasehold title is no longer an impediment,” Mr Rowe said. “The church now offers leases up to 99 years, up from 17 years, and those leases can be renewed every five years if residents wish.”
Mr Henderson, who directs Henderson International after helming hedge fund QED Capital alongside Greg Perry, has swapped the north shore for coastal living, selling the Warrawee family home before decamping beachside.
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