Peter Brennan pockets $8m for Hamilton Island bolthole

Sydney property developer Peter Brennan and his partner Michael Lynch are about to trouser $8m from the sale of their luxury Hamilton Island bolthole.

1 Plum Pudding Close, Hamilton Island.

Sydney property developer Peter Brennan and his partner Michael Lynch are about to trouser $8m from the sale of their luxury Hamilton Island bolthole to a Sydney family through Wayne Singleton of Sotheby’s International Realty. The four-bedroom and three-bathroom Trisara Gardens estate fronting 1 Plum Pudding Close overlooks the Coral Sea and was built on a 1900 sqm site. Replete with a 23m lap pool, it rents for $3000 to $4000 a night as holiday rentals skyrocket on the Queensland island owned by the billionaire Oatley family. Brennan, the chief executive of property development firm Bradcorp, told The Weekend Australian that the sale of Trisara which the pair had owned for at least 15 years was a record price for the popular island off Airlie Beach.

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Historic estate hits the market

The one-time home of Melbourne retailer Oliver Gilpin, which became one of Boroondara’s most prestigious luxury retirement communities, has been listed for sale. Industry sources said more than $20m could be expected for The Connault which occupies Melbourne’s second-most-elevated point at 41-45 Yarrbat Ave, Balwyn, with the 5027 sqm site dating back to the 1930s.

41-45 Yarrbat Avenue, Balwyn.

A prominent Victorian businessman in the 1920s, Gilpin is credited with creating Australia’s first major drapery retail chain, which peaked at 94 stores. Following Gilpin’s death, Idylewylde was purchased by The Sisters of the Sacred Heart in 1945 and under their ownership was renamed Mary’s Mount. Finally, the property was renamed The Connault, and converted into a premium retirement community, which remained operational until July 2022 when owner-operator Karen Kouzas retired. The Connault is being offered for sale with vacant possession. An expressions of interest sale campaign is being managed by CBRE’s Sandro Peluso in conjunction with Marshall White’s Marcus Chiminello. It closes on October 26.

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Toorak gem’s sale on the cards

Placard Holdings director Visvalingam Ganeshalingam is believed to have listed his 1930s house in a “triple-A Toorak” location described as one of Melbourne’s best streets with a $22.5m-$24.5m price guide. The four-bedroom, three-bathroom property at 9 Ottawa Rd sports a pool and 1521 sqm grounds with a garden designed by high-profile landscaper Jack Merlo. Private Property Global director Michael Gibson is handling the campaign. He said Ottawa Rd was a premium address. Placard bills itself as Australia’s only secure plastic card manufacturer. The property last sold for $15m in mid-2017.

Warrawee family cashes out

On Sydney’s north shore in the tiny suburb of Warrawee local agents confirmed the Constable family have just pocketed $16m from the sale of their five-bedroom, five-bathroom 39 Cherry St property in a record price for the area. The family paid $4.5m for the property in 2006.