THE Woollahra Municipal Council earlier this month approved the $11.6 million renovation of a Bellevue Hill home, lodged by Channel Ten chairman Lachlan Murdoch (pictured, right) and his wife Sarah. The approval is subject to conditions designed to protect the views and privacy of neighbours (some of whose houses are pictured in the aerial image,Read more
AUSTRALIA’s prestige property market appears to still be in deceleration mode.
In Sydney, the Vaucluse mansion being offloaded by the Cattell family has been reduced from $21 million to $18 million. Nearby, property developer Paul Smith sold his Bellevue Hill home for a price believed to be “a heavy discount” to the $14 million he first asked last year.
SQM Research managing director Louis Christoper said the Sydney and Melbourne prestige market are recording modest price falls.
LACHLAN Murdoch is the latest young billionaire to expand his Sydney property holding, buying a delapidated property abutting the Bellevue Hill mansion he paid $23 million for last year.
The latest purchase, in Drumalbyn Road, was marketed as a renovation rescue and cost the couple $2.63 million. Spread over 1049 square metres, the property purchase gives Lachlan and wife Sarah, a second road to enter or exit their secluded estate
The couple’s Bellevue Hill mansion, Le Manoir, was a former consulate. It includes a tennis court, pool and garden and is spread over 4097 square metres.
Le Manoir (pictured, right), and the new Drumalbyn Road property (which would be to the left of the boundary marked in the image) are elevated, offering post card water views.
The properties are expected to be amalgamated, and then the main home renovated, seeing the couple are renting another $45 million home around the corner for two years, according to The Brisbane Times.Read more