Revealed: The luxury renovations, knockdown rebuilds planned by Sydney’s high flyers
Some of Sydney’s most exclusive streets are being transformed as the rich and famous splash their millions on stunning rebuilds and home renos. Check out the most spectacular.
Wentworth Courier
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A tidal wave of high profile luxury property sales in Sydney have led to rapid rise in grand renovations and rebuilds planned in some of Sydney’s most exclusive streets.
Mansions in Vaucluse and stunning harbour-front hideaways in Rose Bay are just some of the many planning proposals currently in the works by celebrities, chief executives and other high flyers
Many have snapped up waterfront and dress circle properties only to immediately lodge applications to tear them down, but experts say this isn’t surprising given the current climate.
Luxury real estate expert and Black Diamondz founder and director, Monika Tu told NewsLocal the top one per cent are less concerned with the bones of a property than location.
“It matters less how ‘beautiful’ the luxury homes are,” Ms Tu said.
“Rather, the purchasers often want to have the ability to add their own personal touch to the property.”
Ms Tu said many of her international clients are returning from overseas to live in Australia permanently and are willing to invest to create a long-term family home that matches their vision.
Local buyers, including those in sectors that saw gains during the pandemic, have a similar mindset.
“We have seen a number of wealthy business owners that have emerged during the pandemic that come from various industries including technology, e-commerce, pharmaceutical and logistics,” Ms Tu said.
“These high-net worth individuals are looking to improve their homes, and they’re willing to spend money to do so.”
Ms Tu said while there is a lack of stock in the top end of the market, she has seen a significant number of large transactions in the past 12 months.
“While many business owners are hesitating to sell, there has been an increase in international and local buyers,” she said.
“Expats and local residents are willing to put a lot of time, effort and money into renovating their dream home despite the increasing costs of living and building.”
Below we round up the biggest sums being sunk into recently purchased high-end properties in pursuit of the perfect home.
Real estate star Jason Pantzer’s Woollahra retreat
Top real estate agent Jason Pantzer and his partner Liliana Caputo lodged plans for a $2.1m redevelopment of his Vaucluse mansion in April 2022 after reportedly moved into their new harbourside mansion in 2020.
The partner of Phillips Pantzer Donnelley Real Estate is recognised as one of Sydney’s leading real estate agents, boasting personal Sydney property sales of more than $1 billion.
Extravagant plans include a new swimming pool, garden areas, outdoor terraces, a pool pavilion, a basement storage area and rooftop solar panels.
Roxy Jacenko’s mum’s mansion next door
Sydney PR queen Roxy Jacenko’s mum Doreen bought a $5 million house near her daughter’s home in January 2021, with plans to immediately knock it down and rebuild on the site.
Former commercial property landlord Doreen Davis later revealed a $7.8m plan for the site included a stunning new four bedroom home with two bathrooms plus a further three ensuites and a powder room across its three storeys.
“The design by William Smart and interiors by Blainey North (who also did my home which is across the road) are just a cut above and we can’t wait to see it come to life,” Roxy told the Wentworth Courier at the time.
“Even better that we will be so close together as a family.”
Camilla Freeman-Topper’s $15m vision for ex-PM’s mansion
Australian fashion designer Camilla Freeman-Topper and husband David Topper lodged plans with Woollahra Council in September to redevelop the former home of Sir William McMahon and his wife Lady Sonia McMahon in the ‘70s.
They purchased the 1920s-era house for $15.75m in 2019.
Plans to demolish the historic home for a $5m ultra-modern property – comprising a ‘glam room’, home office, and a ‘green roof’ where plants will be grown across the entirety of the roof – has faced fierce opposition from neighbours.
Luxe Listing’s Monika Tu’s feng shui Vaucluse home
Black Diamondz principal Monika Tu sold $250m of property last year and is recognised as one of the biggest names in Sydney’s property scene.
Closer to home, Tu has been busy renovating her Bellevue Hill property with a feng shui focused design that was three years in the making.
Woollahra Council planning records show the works have included a new cinema, pool equipment room, roof terrace, new swimming pool and landscaping works.
Barry Humphries former Rose Bay mansion
The fate of a multimillion-dollar revamp of an old world 1920s-era Rose Bay mansion – once owned by beloved comedian Barry Humphries – remains uncertain for insurance heavyweight Jim Angelis.
The former CEO and current Chairman at Insurance brokerage Coverforce purchased the property located on one of Sydney’s most exclusive harbourside streets for $45m in September 2021.
By August of 2022, $18.6m plans had been lodged to demolish the Spanish Mission-style home and build a three storey glass enclosing a four-bedroom home with a swimming pool, expansive terrace and waterfront garden.
Westfield Heiress Monica Saunders-Weinberg’s sprawling multi-home complex
Following several years of manoeuvring to merge three residential blocks into a massive 3407 sqm block at Drumalbyn Rd, Bellevue Hill, the low-key philanthropist and heiress to the Westfield shopping centre fortune received the green light to move ahead with luxurious $4m renovation plans.
The finalised development would see a sprawling two-dwelling mansion with landscaping including six bedrooms, basement parking for five vehicles, tennis courts, a pool, spa and sauna, and extensive landscaped grounds.
The property will also house a home office, media room, wine cellar and two formal dining rooms.
One of the richest women in the country, 42-year-old Ms Saunders-Weinberg inherited an estimated $2 billion fortune along with her sister when her father died in 1997.
Late artist’s Tama pad up for sale on Mardi Gras eve
Mardi Gras was a special time for the late Archibald Prize-winning portrait artist, Craig Ruddy, whose stylish ‘Glamorama’ apartment has just hit the market.
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