Agents suspect mega-mansion after neighbouring Vaucluse properties sell for $56 million

Finding the right patch of land to build your forever home is an expensive business for anyone in Sydney, but more so for one trophy-home hunter who has paid about $31 million for a half-built house in Vaucluse.

The sale of former KPMG Consulting partner Michael Ibrahim’s property is all the more jaw-dropping because it is next door to the recently sold $25-million house of construction boss Peter Comino, and the widespread speculation is that the same buyer is behind both deals.

The identity of the buyer behind the deal – and potential $56 million land acquisition – remains a closely guarded secret by agents, but a knock-down rebuild is expected.

Prized Carrara Road is no stranger to property amalgamations, particularly among the nine houses fronting the harbourfront reserve.

Next door to the Ibrahim house is the vast nine-bedroom mansion that was once two properties bought in 1996 for $10.6 million by financier Andrew Ipkendanz. The homes were knocked down to make way for a Peter Stutchbury-designed mansion that was sold two years ago for $47.8 million to Sanity boss Ray Itaoui.

At the other end of the street is the landmark Michael Suttor-designed residence with harbourside tennis court set across two blocks consolidated by Kiwi businessman Colin Reynolds, and bought by venture capitalist Walter Lewin in 2010 for $26.75 million.

Mr Ibrahim declined to comment on the deal but had already moved out of the Carrara Road residence given DA-approved renovations were already underway.

Records show he bought the 1040-square-metre property in 2001 for $7 million from former horse breeder Dean Fleming, son of the late grocery tycoon Jim Fleming.

Like Ibrahim’s sale, the Comino family’s home next door – set on a smaller 760 square metres – was also an off-market sale, negotiated by Laing+Simmons Double Bay’s D’Leanne Lewis, who declined to comment. 

One of the most expensive property amalgamations in Vaucluse was the $79.7 million spent in 2016 by Menulog co-founder Leon Kamenev for four houses on Coolong Road to build his forever home, although he is yet to secure approval for his preferred DA for the site.