Tarocash co-founder seeks buyer for Point Piper trophy home
Australian retail magnate Stephen Leibowitz and his wife Pamela are yet to find a buyer for their Point Piper trophy home.
The couple bought the much sought-after property in Sydney’s eastern suburbs more than two decades ago.
They reportedly paid $12 million for the property, known as Vaynol.
They listed the impressive four-bedroom, five-bathroom mansion early last year. They are selling Vaynol with a price range of $65 million.
Designed by celebrated Sydney architect, Leslie Wilkinson, Vaynol has unobstructed views across Sydney Harbour and is described as offering “gracious, impressively scaled family living” at the coveted address.
The mansion’s elegant lounge and dining areas are sprawled across the main floor as is the chef’s kitchen, butler’s pantry and the four bedrooms.
The bedrooms also have opulent ensuites and built-ins. The main bedroom has a spacious walk-in wardrobe. There is also a self-contained junior suite with a private entry.
All design updates throughout the home have been undertaken by architect Michael Suttor.
Outdoors, Vaynol has a parterre garden created by landscaper, Annie Wilkes.
Alongside the meticulous cultivating work is a terrace and a pool.
Vaynol is listed for sale with expressions of interest with Michael Pallier of Sydney Sotheby’s International Realty in conjunction with Elliott Placks and Adam Reichman of Ray White Double Bay.
Leibowitz co-founded Retail Apparel Group (RAG) with his brother Michael in 1987, the Australian Financial Review reported.
The brothers started the company with the menswear label, Tarocash. They expanded their stable of brands across 400 stores.
In 2017 RAG was sold to South African retailer The Foschini Group for about $300 million.
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