Sanjeev Gupta buys Sydney’s grand Italianate mansion Bomera for $34m

Sanjeev Gupta’s 8 bedroom sandstone home Bomera at Potts Point overlooks the harbour.

Sanjeev Gupta bought Bomera for $34m. Picture: REA.

Billionaire steel tycoon Sanjeev Gupta has purchased Sydney’s grand Italianate mansion Bomera for almost $34 million.

The eight-bedroom, five-bathroom sandstone home at 1 Wylde Street in Potts Point sits on a 2308 sqm block overlooking Sydney Harbour.

The mansion is set on a 2308 sqm block. .

Sources have confirmed to realestate.com.au the property, listed with Ballard Property and LJ Hooker Double Bay, exchanged hands on Monday night.

Bomera was built in 1856.

Mr Gupta, executive chairman of British steel group Liberty House, has most recently been renting Bellevue Hill’s Barford residence for $30,000 a week from property ­developer Ian Joye.

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The Bomera mansion has grand halls with marble floors and even a ballroom overlooking Woolloomooloo Bay, landscaped gardens and a swimming pool.

The property had been owned since 2013 by Leanne Catelan, the daughter of the late property data pioneer Ray Catelan

The property is an iconic sandstone landmark built in 1856 by architect John Frederick Hilly for colonial merchant William McQuade. McQuade also commissioned the villa next door, called Tarana, in 1889 for his son Arthur “Fred” McQuade. Between 1941 and 2001 both homes served as fleet headquarters for the navy before being sold off to a property developer for $6.55 million.

Previous owner Leanne Catelan first listed the property in March this year.

The property had been owned since 2013 by Leanne Catelan, the daughter of the late property data pioneer Ray Catelan, who bought the property for $12.5 million. Ms Catelan first listed the property in March this year.

It is not known what Mr Gupta, 48, intends to do with the home.

Mr Gupta has most recently been renting Woollahra’s Barford residence for $30,000 a week

Mr Gupta employs 7000 people across Australia through his ownership of the Whyalla steelworks in northern South Australia, as well as the smaller mills in Sydney and Melbourne.

The property sits on a prized piece of land overlooking Sydney harbour.