Mosman's 'golden nugget': La Pepita de Oro hits the market with $11 million-plus expectations

It was love at first sight when Karin Bergseng and her husband Peter McCrohon went to look at this house on a cliff face overlooking Balmoral Beach.

They were immediately smitten with its inter-war Mediterranean style, adored its lush gardens and were bowled over by the views over North Head and the ocean.

“It was only the second house we looked at but I immediately knew I wanted to live here,” says Bergseng. “When we walked in, it felt like an oasis, it was amazing.

“I loved the gardens first of all, then its character and style, and [then] when we reached the top of the house and saw the view. We loved it from the very first minute, and it became our passion.”

That was 16 years, and a substantial investment of cash, ago but their ardour has not cooled. The pair, both lawyers, have spent years restoring, renewing and extending the five-bedroom, four-bathroom home and including bespoke Mediterranean and art deco finishes faithful to its original 1934 features.

“It was wonderful to bring the house back to life and to have given it at least another 100 years with everything essentially new,” says Bergseng. “But now it’s time to move on and downsize.

“We’ve lived in a beautiful home for a very long time, had some incredible parties and dinners, and so much fun, with everyone who came here always saying, ‘Wow!’ about it.”

The north and east-facing house, redolent of Hollywood’s Mediterranean “Casa California” style, with its graceful arches, beautiful tiling and wrought-iron balustrades, is now being sold by expressions of interest by agent Anthony Walls, of Max Walls International, with a price guide of more than $11 million.

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La Pepita de Oro – or golden nugget, named for the effect when the northern sun shines onto the yellow exterior of the house – is well known in Mosman as a distinctive character house perched high on the Balmoral slopes.

The property has stunning landscaped gardens, multiple entertaining areas and al-fresco terraces, and an in-ground pool set beside an elegant paved loggia with captivating views.

The house is reached either by stairs that wind up through lush plantings and a babbling stream or a brand-new inclinator.

“As you can imagine, I have seen some of Sydney’s best homes from the eastern suburbs to Newport, but never has one reminded me so much of a Riviera home in Cap Ferrat or Villefranche,” says Anthony Walls.

“It’s not one of those typically contemporary, sharp-edged homes, but a stunning house that’s quite unique and incredibly private, which would appeal to a huge range of people, from locals to expats. It’s like a precious heirloom.”

As one of Sydney’s most prestigious suburbs, Mosman is proving gilt-edged. On Domain Group figures, it  has a median house price of $3.5 million, up more than 77 per cent  in the past five years.

Mosman has also recorded 15 sales over $10 million in the first seven months of the year – the same number for the whole of 2017.

La Pepita de Oro is close to the beach, transport, schools and the shops and restaurants of Mosman village. There are panoramic views, even from the kitchen sink, and nothing left to do. Even the inclinator has recently been replaced so it’s big enough for a wheelchair or shopping trolley, while the house has rear access to the street above.

There’s a good-sized study, a library, no fewer than three fireplaces, a cool wine cellar carved out of the sandstone cliff, a huge amount of storage and a double garage. The house is equipped with air-conditioning and a full C-bus security and home automation system. For further possible improvements, there’s a DA approval for more accommodation with an internal elevator.

“It is so perfect, it’s hard to leave,” says Bergseng.

This feature is part of a Domain Deluxe package.