Sydney's trophy home market makes room for $48 million Point Piper mansion

Sydney’s trophy home market has made room for a $48 million Point Piper mansion owned by big band leading figure Warren Daly and his best-selling author wife Karen.  

Listings in the rarefied $40-million-plus market have been scarce this year compared with previous years. 

Agent Michael Pallier, of Sotheby’s International, has the listing, which has a $48 million price guide. The Dalys stand to score six times the $7.75 million they paid for it when they bought the home from the now late businessman John David in 1997.

Dubbed ‘Alkuna’, the Richard Christian and Walter Barda-designed waterfront mansion comes with interiors by Michael Love and Thomas Hamel, and a heritage-listed, Chinese-style pagoda boathouse. 

That combined with five bedrooms, six bathrooms, grand foyer, kitted-out kitchen, gentleman’s study, wine cellar, pantry, gym, and – of course – extensive views of Sydney Harbour. 

There is also a separate three-bedroom garden apartment, Danmark, up for offer.

Daly kicked off his career playing drums in bands such as Ramblers, Kirby Stone Four and the Glenn Miller Orchestra, before going on to form the Daly-Wilson Big Band in 1968. His wife Karen is the author behind the successful Fats and Figures book series.

Considered one of Sydney’s most prestigious suburbs, Point Piper has recently seen the sale of Aussie John’s penthouse for more than $13.3 million – listed last October – to property developer Michael Teplitsky.

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Another recent developments includes former hedge fund trader Chris Madison securing a buyer for his $15 million duplex –  but perhaps the most impressive sale this year so far has been Neville Crichton’s trophy home, which sold for $60 million.