$19m Mosman mystery solved as buyer revealed
Restaurateur Ian Pagent and wife Maryanne have emerged as the $19m mystery buyers of the Mosman home of former recruitment boss Katie Adamo and her dentist husband, Daniel.
Restaurateur Ian Pagent and wife Maryanne have emerged as the $19m mystery buyers of the Mosman home of former recruitment boss Katie Adamo and her dentist husband, Daniel.
The couple’s off-market Clifton Gardens purchase will see them move back from Sydney’s east – closer to the Bathers’ Pavilion Balmoral restaurant, which is run by the family.
The Thompson St acquisition was a big jump on its $14.5m December 2020 sale, when it was bought by Adamo – who founded the global property recruitment firm Judd Farris.
The five-bedroom, four-bathroom house on 1254sq m – designed by architect Prue Murdoch – won the People’s Choice Award in the 2015 Mosman Design Awards.
There have been whispers since February that the Pagents had sold off-market in Woollahra to ragtraders Jonathon and Jilly Ind, but as yet there’s no confirmation of any deal. The Pagents were seeking $20m plus offers for the Holdsworth St home bought in May last year from Skye Leckie, the widow of the television boss David Leckie, for $17m.
Ian Pagent is the active co-owner of Bathers’ Pavilion with daughter Jessica Shirvington. They have a lease with Mosman Council until 2039.
Shirvington is also in the real estate market, listing the Mosman home she owns with her husband, the Olympic sprinter turned Channel 7 sports presenter Matt Shirvington. Their Federation home has $14m hopes through Atlas by LJ Hooker agent Michael Coombs, having been bought in 2017 for $7m from retired WorleyParsons executive Emil Finn and his wife Genevieve.
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Sydney rebound
Sydney saw 654 homes scheduled for auction last week, with 63 per cent of the 519 results collected so far returning a successful result.
It was Sydney’s highest preliminary clearance rate since late April, although the previous week saw its final clearance rate tally dip to 54 per cent, according to CoreLogic. Drummoyne had the nation’s top auction when a waterfront two-storey brick Federation home sold for $10.92m to a buyer who viewed it for the first time on Saturday.
There had been over 7000 views on realestate.com.au of the five-bedroom home with a boatshed and jetty on the Parramatta River. It last sold at $4m in 2010 to the Simoni family. The sale ranked as the sixth in the suburb over $10m in the past five years.
Drummoyne’s priciest apartment sale was recently secured, just below at $9.25m, in The Isles complex by Made Property on St Georges Crescent. The three-bedroom, three-bathroom penthouse sold off the plan in 2020, settling in June this year. It has now been listed for onsale through CBRE agent Caroline Fagerlund. With its design by SJB architects, there’s 340sq m space including a 14m wide terrace.
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Hawthorn on a high
Melbourne was the busiest auction capital last week, with 787 homes auctioned, with its clearance rate falling for the first time in five weeks to 65 per cent of the 627 results collected so far by CoreLogic. Final figures on the prior week ended up around 59 per cent.
Melbourne’s top reported sale was in Hawthorn when $7.92m was paid for Mylura, an 1899 period home. The five-bedroom, 12 Hawthorn Grove home had been listed with $6.5m to $7m guidance from Richard Winneke at Jellis Craig Boroondara. The home on 1370sq m last sold at $82,000 in 1975, reflecting 10 per cent annual price growth. There were three young families who sought the keys to the trophy home on what Winneke suggested was “arguably Hawthorn’s best street”.
“Many agents and owners fear auctioning a home in this price category, however I would never have any hesitation,” he told Competing Bids.
“The auction reconfirmed my thoughts, with all three bidding well into the seven-millions,” he noted.
Mylura was built for the Dowling family from Launceston. It was owned for its first three decades by Sarah Tayspill, who’d married her first cousin Charles Dowling. They were parents of eight.
Her father Henry Dowling Jr was a printer, publisher, bank manager and philanthropist, at one stage working on the Launceston Advertiser when owned by Melbourne pioneer John Pascoe Fawkner.
Melbourne’s cheapest auction sale was a one-bedroom unit that fetched $244,000 at Box Hill. It sold in 1970 at $15,500, so reflected a 5 per cent annual price gain. The Noel Jones agent Paul Leydin dubbed it a “value-packed apartment.” The Bishop Street unit came with freshly painted walls and new carpet.
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Olivia time capsule
A retro Black Rock time capsule house that featured in the 2018 Olivia Newton-John biopic sold for $4.6m under the hammer.
The 1975-built Melbourne home, a local icon at 344 Beach Rd, known as Saade House, attracted five registered buyers through Marshall White agent Oliver Bruce, who declared it on the market at $4.4m. It had come with $4m to $4.3m price guidance, having last sold in 2014 at $2.7m when bought by interests associated with the Tasmania’s entrepreneurial Hetrel tourism family, who queried its placement by Bayside Council on its draft Mid-Century Modern heritage study in 2021.
It was built by restaurateurs George, Alex and Katy Saade of Giorgios Armadale fame to a design by Holgar & Holgar. They sold at $630,000 in 1991.
The home featured in the mini series Olivia Newton-John: Hopelessly Devoted To You starring Delta Goodrem.
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No bid at Toorak
There was no bid when a Toorak home went to weekend auction before a crowd of 50, mostly neighbours curious as to the depth of buyer support in the pricey Melbourne suburb.
RT Edgar auctioneer Jeremy Fox sought a $4.4m offer without success, despite that being at the lower end of the consistent $4.4m to $4.8m pre-auction guidance.
The four- bedroom, three-bathroom home on 450sq m had last traded at $4.11m in 2017 with $225,000 incurred in stamp duty.
Some local agents are dreading their vendor reactions to last week’s bullish big sales – $75m and $80m on St Georges Road. The agents think the record-setting prices will trigger unrealistic higher price aspirations.
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Clearance up
National auction activity saw 62 per cent sold, the highest preliminary result in 12 weeks, despite interest rates surging 1.75 per cent since May.
Adelaide had the highest success rate at 68 per cent, followed by Canberra on 66 per cent and Brisbane on 44 per cent. Queensland’s top sale was $2.71m for a chic waterfront home at Broadbeach Waters on the Gold Coast after bidding from six parties through Kollosche Broadbeach.
National volumes in the first week of spring are scheduled to be 4 per cent higher than a year ago, Cameron Kusher, director of economic research at PropTrack, has advised.
“We expect that early spring will be busy as vendors look to sell early to beat-out further price falls,” he added.
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