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A garden apartment for $17.5m? A who’s who of downsizers put a high price on designer blocks
By Lucy Macken
There was a time when the garden apartment was regarded as the poor cousin of the apartment block, but clearly not for Tina Green, widow of the late hotelier Maurice Green. After all, who cares for a view when you could have a backyard for a pet and space for alfresco dining, and in the latest designer digs.
Green has forked out about $17.5 million through Richardson & Wrench’s Jason Boon for the ground-floor pad in Elizabeth Bay’s most recently released boutique address, Billyard Avenue.
The 400 square metre garden apartment in the Billyard Avenue development sold for $17.5 million.Credit: Artist’s impression
Joining Green in the SJB-designed building are fellow eastern suburbs identities like yachtie and former UBS Japan head Matt Allen, who paid almost $30 million for the penthouse, and lawyer Chris Coudounaris, who paid $22 million for the sub-penthouse.
Green’s purchase from developers Philippe Remond and Peter Walsh follows the recent sale of her penthouse in the nearby Potts Point Encore building for almost $18 million, complete with old-fashioned harbour views.
The holy grail for any apartment block is to become somewhat of a designer label to high-end shoppers. Forget your Gucci, Fendi or Hermes labels. For high-end downsizers, it’s all about the block where you live.
The Harry Seidler-designed Horizon tower at Darlinghurst was for years the place to live in the inner city. Credit: Domain
Who can forget Horizon, the Harry Seidler-designed tower in Darlinghurst that once boasted residents like the late Harry M. Miller and billionaire Lang Walker, as well as former residents like Baz Luhrmann and billionaire Bob Ell. Still in residence are heiress Francesca Packer Barham and MONA’s David Walsh.
The Pomeroy building in Potts Point is another address that did well from a boujee reputation. It is currently home to charity queen Skye Leckie, Lisa Keighery and liquor baron John Piven-Large.
Up the road high-profile medico Kerryn Phelps, print baron Michael Hannan and former Liberal Party leader Peter Collins have sold out of Ikon, but audio king Peter Freedman and snack food mogul Lenka Dransfield have bought in to the building.
The historic Manar building lured the big names even before former lord mayor of Sydney Lucy Turnbull was born there, such as Dame Nellie Melba, scholar Sir Mungo William MacCallum and former prime minister John “Black Jack” McEwen.
The Manar building’s 296-square-metre penthouse sold for $13.46 million to artist Judy Garb Weiss.Credit: Domain
And soon Manar will welcome its most recent buyers, Manhattan couple-turned-Woollahra locals, artist Judy Garb Weiss and her recently minted husband Sam Weiss.
Judy has settled on the gutted penthouse for $13.46 million that was sold recently by Victoria and Andrew Isles, of the A. Royale & Co homewares distributor business.
Altium chairman Sam Weiss has resigned after 17 years.Credit: Louie Douvis
The “blank canvas” last traded in 2009 for $2.25 million from former lawyer Russell Keddie, and now comes with approval for a redesign by Lawless & Meyerson and MHNDU architects, and will need to add a bathroom and kitchen.
The Weisses are cashed up for the purchase. Sam is the long-time chairman of ASX-listed circuit board software company Altium, which was sold to Japanese chipmaker Renesas in February for more than $9 billion.
Still in Potts Point, the terrace of architect Alexander Michael has finally settled after a two-year put-and-call option revealing a $9.75 million sale price to child psychiatrist Felicity Waters and her husband, Adamantem Capital managing director Richard Waters.
The Potts Point terrace of Alexander Michael and his late partner Tony White was for decades home to their extraordinary art collection.Credit: Domain
The house was originally listed for $15 million three years ago but never sold and in 2022 the listing was taken over by Raine & Horne’s mother and son team Jane and Samuel Schumann with a $10 million guide.
Michael and his late partner, acclaimed jeweller Tony White owned the terrace since 1978, having paid $85,000.
Hyams Beach’s cash buyer
TCI Renewables chairman Jim Cooney sold his Hyams Beach weekender for $6 million.
Emily Simpson, of the Fairfax media family and a former bra entrepreneur, has bought the Hyams Beach holiday home of multimillionaire yachtie and TCI Renewables chairman Jim Cooney.
Records show Simpson paid $6 million cash for the beachfront house, offering a decent return to Cooney given he bought it for $4 million in 2020.
Emily Simpson drove the establishment of Sydney’s first public labyrinth, which is in Centennial Park.Credit: Quentin Jones
It was listed late last year with $7 million hopes with Highland Property’s Bill Malouf and local agent Craig McIntosh, of The Holidays Collection.
Simpson, the granddaughter of media proprietor Sir Warwick Fairfax and founder of underwear company Full Bloom, drove the establishment of Sydney’s first public labyrinth, which opened a decade ago in Centennial Park.
Simpson’s purchase sets a high for Hyams Beach, topping the $4.8 million record set in 2018 by Sandy Jan, wife of foreign exchange dealer Tony Collick.
Still with Jan, she recently purchased a Southern Highlands escape known as Rangeview in Glenquarry for $5.55 million.
Cottage Point flip
The Cottage Point weekender of Sylvia and Lawrence Myers last traded four years ago for $4.25 million.Credit: Domain
When James Packer appointed Lawrence Myers last year as his new money guru, it clearly left Myers and his wife Sylvia less time to kick back at their Cottage Point weekender, prompting the Rose Bay-based couple to list it for sale.
Lawrence Myers heads up corporate advisory MBP Advisory, and last year was appointed the money manager of James Packer.Credit: LinkedIn
The couple only owned it for three years, having purchased it for $4.25 million.
Sotheby’s Harriet France declined to reveal if the property scored more than its $6 million guide.
Settlement will reveal if it tops the Cottage Point high of $6.8 million set in 2021 by Temple & Webster chief Mark Coulter.