Kingsmede's Andrew Potter trades in one Point Piper waterfront for another

The most recent deal is the $20 million sale of the waterfront home of Andrew Potter, of the Kingsmede property investment company.

Potter bought his waterfront home – two doors from the home of Prime Minister Malcolm Turnbull – in 2011 for $15 million from property developer Bob Rose and his wife Margaret.

Talk of the deal pinned the sale on Bill Malouf, of LJ Hooker Double Bay, but could only be confirmed after a caveat was lodged on the title, revealing it was bought by Mayo Group chief executive Sarah Mayo.

According to the local rumour-mill, the two-bedroom house – which has shared deepwater jetty access with landmark Altona trophy home next door – was part of a double deal negotiated by Malouf.

In the absence of any comment from Malouf, speculation has it the second half of the deal names Potter as the buyer for more than $36 million of the waterfront house of luxury-car importer Neville “Croaky” Crichton. It’s a decent trade-up from one gun-barrel Harbour Bridge view to another in the next street.

The double deal, worth $56 million in prime waterfront real estate, follows the more than $20 million return to the neighbourhood of Andrea Banks, wife of Shark Tank’s LA-based entrepreneur Andrew Banks.

The Banks owned the local trophy home Villa Veneto before they sold it in 2010 for a reported $52 million. 

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