‘Man’s small gift to Watsons Bay’: The passion project that sold for $10 million-plus

Among the many fisherman’s cottages in Watsons Bay there is a house of similar size that was designed purely in the hope of provoking a backwards look, or just an appreciative glance from the passersby.

This is no showy trophy home or landmark mansion. It is Serisier House, the passion project of high-profile sports entrepreneur James Erskine that was built as “man’s small gift to Watsons Bay”.

Serisier House at Watsons Bay was so named after artist David Serisier, whose work features throughout it.Credit:

Some 15 years after it was completed, that gift has quietly sold, and settlement records reveal the $10,125,000 buyer is private equity boss Mark Summerhayes.

The story of the project was published in a 2012 book named Serisier House, and Erskine details how it all came to be in the foreword.

“Jacqui [his wife] and I have previously worked with architect George Hatzisavas, artist David Serisier, builder Mike Butler, interior designer Cameron Kimber, landscape designer Marcia Hosking but not all together. So I suppose I was the catalyst for getting this talented group to unite to create something rather special, or at least try.”

James Erskine is the founder and chair of Sports and Entertainment Ltd.Credit: Andrew Quilty

In classic Sydney establishment style, Erskine negotiated to buy the house over lunch with businessman Charles Curran at the former Paddington institution Lucio’s.

As one telling of the story goes, Curran thought it was worth $2 million, Erskine thought $1.5 million, and in 2001 they shook hands on a $1.75 million deal.

Erskine, chair of Sports and Entertainment Ltd, has long been renowned for his roll call of clients, from the late Shane Warne to fellow cricketer David Warner, Ian Thorpe and royal blue blood Zara Tindall, daughter of Erskine’s friends Princess Anne and Captain Mark Phillips.

But regular Title Deeds readers will know it is his Vaucluse home that has long caught the eye of trophy home watchers, set as it is on half an acre of prime waterfront land at the end of Kutti Beach.

Serisier House was designed by architect George Hatzisavas, built by Mike Butler with interiors by Cameron Kimber and landscaping by Marcia Hosking.Credit:

As for Summerhayes, the Pemba Capital boss had to dig deep for the three-bedroom house, despite increasingly soft market conditions.

Among the cottages recently sold in the suburb are that of lawyer Brett Galloway, for $4.8 million, a $6.4 million purchase by property investor Jason Camuglia (to go with his $12 million home next door), and the home of the late radiologist Dr Peter Kitchener for about $6.3 million.

Jodhi Meares is selling her Watsons Bay cottage after six years.Credit:

That just leaves the 1880s cottage of fashion designer Jodhi Meares, a former wife of James Packer, up for sale at $4.8 million.

It was listed a week ago, six years after she bought it for $2.75 million.

Vaucluse’s cash buyer

The mystery of who bought the Vaucluse home of Graham and Marisa Campion, of the rich-list Rose family, for $30,388,000 has been solved. Sort of.

Zihong Wan has settled on the waterfront residence – paying cash, no less.

Marisa and Graham Campion bought the Vaucluse house in 2021 for $25 million from former Westpac chief David Morgan and former Labor MP Ros Kelly.Credit: Domain

Alas, little is known about the apparent multimillionaire, with neither corporate records nor property registered to Wan’s name in the state. And none of the agents involved are willing to shed any light on what sort of business funded the purchase (which is, ultimately, what Title Deeds is about).

It coincides with another recent cash sale in Vaucluse, on the clifftop overlooking Diamond Bay, where a little-known Tianyi Jin paid $14.75 million, coincidentally using the same lawyer for conveyancing as Wan.

The Campions are less of a mystery. Marisa is the daughter of billionaire Margaret Rose and the late Bob Rose, and Graham is the former owner of the Longueville Hotel, which sold for about $50 million in 2022 after almost a century of family ownership.

Annandale’s loss

The Annandale terrace of James and Jessica Johnson last traded in 2021 for $2.4 million.Credit: Domain

Football Australia chief executive James Johnson and his wife Jessica can be in no doubt about how the market is tracking, judging by the sale of their Annandale home for a loss.

Football Australia CEO James Johnson at Alllianz Stadium.Credit: James Brickwood

The couple bought the three-bedroom terrace – freestanding to one side and with parking – in the good times of 2021 for $2.4 million.

It was listed last month with hopes of $2.5 million and went to auction where the only offer was a vendor bid of $2.4 million.

BresicWhitney’s Luke Grosvenor secured a $2.3 million sold sticker on Friday, freeing the Johnsons to trade up, no doubt with an eye on a discount of their own.

Kilcreggan settles

In Mosman, Sam Folder, whose late dad Ian Folder founded the natural insecticide company Botanical Resources, has emerged as the owner of the historic Federation mansion Kilcreggan, paying $14.25 million with no mortgage required.

This Federation mansion, Kilcreggan, sold for $14.25 million to cash buyer Sam Folder.Credit: Domain

Kilcreggan was the long-time home of former Macquarie Bank senior executive David Adams and his wife Elizabeth, who had initially hoped to sell for more than $16 million early this year.

It was newly listed recently with Atlas’ Michael Coombs with a guide of $13.5 million, and promptly sold.