Warrawee teenager with 'downsizing' plans lists trophy estate Springfields for $14 million

Two years after the Warrawee trophy estate Springfields sold for a then upper north shore high of $12 million it has returned to the market given “downsizing” plans by local student Shuxin Zhou.

The sale of the 4700 square metre estate made headlines not only for the unprecedented sales result but because the savvy teenager exchanged on it on June 30, 2017, the day before state government laws came into effect doubling the stamp duty surcharge for foreign buyers from four per cent to eight per cent, effectively saving her an additional $480,000 surcharge.

The English Cotswolds style Michael Suttor-designed residence was built 29 years ago for Mazda car dealer John Newell and his wife Maria, who sold it in 2003 for $6.6 million to Rachael Gribble, wife of Quantum Group founder Peter Gribble.

The Gribbles sold the 4700 square metre estate in 2017 when they “downsized” to the Turramurra mansion Chasecote after it was listed for $5.6 million by Chadwick’s Lynette Malcolm.

Springfields’ hold on the upper north shore record came to an end last year, however, when Karen O’Hanlon, wife of tech entrepreneur Dominic O’Hanlon, sold her Wahroonga estate for $13 million.

Zhou – daughter of Chinese businessman Jianming Zhou – has listed it with Chadwick’s Lynette Malcolm and William Zhang, who sold it last time, and Jing Peng, of LJ Hooker Gordon.

There is no price guide, as yet, but buyers are expected to fork out $14 million this time around.

Rose Bay’s prestige bull run

The Rose Bay trophy market is hoping to continue its bull run of this year with the sale of the beachfront residence of the late Susan Feller, OAM, for about $20 million.

This is the house bought by the Feller family at the height of the 1980s property boom for $4.15 million from art historian and critic Sandra McGrath, wife of banker Tony McGrath in 1989.

Soon after the Fellers commissioned a redesign by architect Michael Suttor, adding a lift to all three levels a decade ago, and another redesign in 2014 by architect Susan Rothwell.

The more than 700-square-metre property on Collins Avenue is listed with Michael Pallier, of Sotheby’s International.

Rose Bay’s prestige market claims two of only a handful of trophy sales in Sydney this year. First with the $23.5 million of the waterfront home of property mogul Stephen Burcher and his wife Melissa to high-profile corporate lawyer Amanda Banton.  Then two months later the house next door was sold by the estate of the late construction boss Rudi Sisic for $22.5 million to Amway China’s Jack Zhijian Zhou and Guo Ying Ou.

Record aims in Castle Hill

The Castle Hill trophy estate of Paul and Jenny Leone, of the Ballykeane Orchards family in Orange, is for sale for the first time since 1977, this time with a $10.5 million-plus guide that is expected to reset local house records.

Records show the 1960-built residence on 1.58 hectares was previously owned by the late chairman of Rothmans and Truth newspaper Sir Ronald Irish and sold in 1977 for $255,000 to the Leone family, who undertook a redesign and renovation in the early 1980s.

The seven-bedroom residence is set at the end of a circular driveway with a porte cochere entry and includes a separate guest house, conference room and dance studio, championship tennis court, stables, swimming pool and, most notably, an award-winning garden by Dean Herald, of Rolling Stones Landscapes, that is known locally as the Secret Garden thanks to its high perimeter wall.

Greg Howard and Alice Chen, of Black Diamondz Concierge, have the listing.

Beazley’s $11m Lavender Bay bonanza

NSW Governor Margaret Beazley took all of two weeks to sell her Lavender Bay house, cashing in the family home of the past 30 years at a time the suburb is enjoying arguably its hottest run of prestige sales.

Dino Gatti, of The Agency, declined to comment on the deal, but sources say it sold for about $11 million  to a local family – making an impressive gain on her $1.3 million purchase price of 1989.

The highly decorated former Federal Court judge and her barrister husband Dennis Wilson have moved  to the official vice-regal residence Government House following her appointment as Her Majesty’s state representative in May, taking the reins from new Governor-General David Hurley.

Lavender Bay’s stocks have soared in recent weeks when the suburb high was reset at more than $16.5 million by the purchase of a three-level mansion by AFR Rich Listers and founders of multinational vitamin company Nature’s Care Jina Chen and Alex Wu.

But Governor Beazley is not done with Lavender Bay yet. Her investment property she bought for $540,000 in 1990 next door to her long-held home is also being offered to buyers on the quiet for $6 million, again through Dino Gatti.

Petersons cash in Woollahra pad

The contemporary Woollahra terrace of Lisa and Trent Peterson, head of private equity group Catalyst, has hit the market for more than $8 million.

It is one of six terraces built in 2001 on the site of the former Holdsworth Gallery that was then bought by former assistant governor of the Reserve Bank Geoffrey Hodgkinson and his wife Tina until they sold it in 2011 for $6.5 million.

The four-bedroom house with home gym and swimming pool goes to auction on August 31 through The Agency’s Ben Collier.