Lavender Bay home of fund manager Chris Bedingfield and designer Christina Wood sells for $16.5m

Three weeks after it hit the market, the Lavender Bay home of interior architect Christina Wood and her fund-manager husband Chris Bedingfield has sold for more than their asking price, setting a suburb record of more than $16.5 million in the process.

Lavender Bay’s luxury market has had a bull run of top sales results in recent years thanks to demand from cashed-up downsizers from the north shore, with four of the suburb’s six double-digit sales all recorded in the past two years.

The Bedingfield-Wood house sale tops a $16.28 million high set in 2017 for a waterfront apartment built originally for Lang Walker’s dad Alex Walker when it was sold by Cassandra Nicholls, widow of J&B Records’ Brian Nicholls.

Bedingfield, a co-founder of boutique real estate asset manager Quay Global, and Wood, a start-up investor, bought what was a 1930s block of flats in 2008 for $5.3 million from founders of independent dance music label Central Station Records Morgan Williams and Giuseppe “Jo” Palumbo.

A major redesign followed to convert it into a single luxury residence that included adding another level for a parents’ retreat, a swimming pool and separate guest quarters in the rear garden, an internal lift and high finishes throughout.

It was listed with Belle Property Mosman’s Tim Foote with a $15 million to $16.5 million guide and after 140 groups inspected it and 10 contracts were issued, there were three parties from the north shore who made offers by the expressions of interest deadline on Tuesday.

The exact sale price remains undisclosed but is confirmed at more than $16.5 million to a family from the northern beaches.

Foote said the property attracted inquiries from buyers worldwide, including from mainland China, and expats in the United Kingdom and Hong Kong.

“Sydney has a limited number of genuine trophy homes that combine iconic views, a good amount of land and plenty of internal space and style,” he said. “The market for homes of this calibre has extended across the globe, with Chinese and other international buyers very attracted to the Sydney harbourside lifestyle and willing to compete strongly with local entrepreneurs for their slice of premium Sydney real estate.”

The sale comes just days after NSW Governor Margaret Beazley put her home around the corner up for sale for $11.5 million given her recent appointment and move to the official vice-regal residence Government House.

Dentist Christopher Ho and his wife, Melanie, have also bought into Lavender Bay, paying $11 million for the recently built residence of former Metcash chief Ian Morrice and his wife, Linda.