Mosman's $16m merchant mansion resets 2019 high

Mosman’s high-end market has been stunted by a shortage of houses for sale this year, so prestige agents are expected to welcome the sold sticker that went up on the $16 million merchant’s mansion Leesthorpe on Friday morning.

The historic Queen Anne Federation residence of Katrina Williams, wife of barrister David Williams SC, was listed earlier this month, and sold in less than three weeks, prompting locals agents to suggest it sold close to the asking price.

While Richard Simeon, of Simeon Manners, declined to reveal the sale result or the buyer, it is expected to top by about $3 million the year’s previous high for Almora House, the Balmoral slopes property sold by tech tycoon Simon Clausen.

Simeon secured the sale well ahead of a November 6 expressions of interest deadline.

Williams bought the grand 1752-square-metre property in 1999 for $2.97 million from Kate and Alastair Brown, and in 2006 – when her husband successfully defended One.Tel founder Jodee Rich in a long-running battle with the Australian Securities and Investments Commission – undertook a renovation by acclaimed architect Luigi Rosselli.

The result is a three-level residence with original formal living rooms and a contemporary open-plan living space at the rear with city skyline views and overlooking the swimming pool and championship tennis court.

There are five bedrooms, separate study and library, rumpus room, cellar and double lock-up garage.

Mosman’s stunted sales environment this year follows last year’s strongest performing ultra-prestige market of sales of $10 million-plus, including a suburb high of $25 million set when investment banker and Sydney Swans chairman Andrew Pridham bought the property Hopetoun.

However, values on the few trophy estates were recognisably holding firm in July when horse breeder John Messara transferred the family’s Seacliff manion to his son, investment banker Mike Messara, in exchange for $23 million.

The family deal makes it a total of $33 million for the Messara estate given that Mr Messara jnr bought the street-front residence which was part of the family compound two years ago for $10 million.