Trophy homes: $60m for Hume Coal land

More than $60m is expected for 1308ha of NSW Southern Highlands land being sold by Hume Coal, including the nine-bedroom Mereworth House.

The interior of 1 Inverness st, Ascot, in Brisbane.

More than $60m is expected for 1308ha of Southern Highlands land being sold by Hume Coal after it failed to win plans to develop a mine in the region south west of Sydney.

The holding is spread across nine properties including the nine-bedroom Mereworth House on the outskirts of Berrima about 130km from Sydney and is being offered by Ray White Rural Parkes agent Kim Watts. Watts says there has already been strong interest shown in the properties but she stressed it would not be carved up and sold piecemeal.

Ms Watts has received early interest from some of Australia’s very high net worth individuals as well as large corporations. She said this indicated a sale price of well above $60m but she would not be surprised if buyers can see value way above that figure.

“I anticipate significant interest from a range of sectors including developers given that the majority of the assets on offer are located within Wingecarribee Shire’s RU2 and E3 Zoning areas where minimum lot sizes of 40ha or 100 acres are listed as allowed with consent.”

“The nine properties will not be sold separately, I can’t stress that enough. My client will only sell in one job lot.” The properties are located from Sutton Forest, to Berrima, Mossvale, Medway and Hume Coals office’s in Berrima township.”

Mereworth House’s occupancy dates back to 1820 when it was part of a land grant awarded to John Atkinson. This home on 500ha of prime grazing land was built in the French Provincial style with a stunning Mansard roof, typical of French architecture between the 16th and 19th century.

Designed by architect John Amory who was also responsible for his architectural work at the historic ‘Rona’ in Bellevue Hill which sold a few years back for $60m, this unique property sits among an expansive Paul Sorenson garden which reveals a complex palette of colours at this time of year.

Expressions of interest are due by September 30. “Naturally the short time frame will favour conditions for local buyers where foreign interests may need delayed terms for FIRB approval,” Ray White said.

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Ascot auction

Art historian Jane Tynan and her husband Michael are selling one of Ascot’s most prestigious homes, an architecturally designed fusion of a Queenslander with a Cape Cod. The 1 Inverness St, Ascot, property has a dual street frontage and covers around 1330sq m. A similar styled home in the same street sold for $5.4m earlier this year but the Tynan’s paid just $295,000 when they purchased it in 1986. The sprawling property was built in 1924 for one of famed retailer TC Beirne’s daughters. The residence has undergone a series of renovations and even a removal from further up the street. The home was designed by architect Jack Hennessy and redesigned by architect Rob Cottee from Cottee Parker. The Tynans are downsizing and marketing the property through Ray White New Farm agent Matt Lancashire. The six bedder will be auctioned October 9 if not sold prior.

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Waterfront offerings

The east coast real estate holdings of the late travel doyen and TV personality Mary Rossi continue to hit the market with a half floor sub-penthouse on the 32nd floor of The Inlet apartment tower in Surfers Paradise listed for sale. Ray White agents RobbieGraham and Jordan Thams are handling the sale of the north-facing apartment which sports two large bedrooms with private ensuites and balconies. The apartment, to be auctioned on October 21, sports 240 degree views of the Pacific Ocean, north over the Broadwater through to the waterways of the Gold Coast and west to the hinterland. And in Sydney, Ms Rossi’s 62 Cliff Rd, Northwood, waterfront home has also hit the market for the first time in 60 years. Ray White’s Geoff Smith and Richard Harding are marketing the six bedroom property with the expressions of interest closing on October 20. The Northwood home built on nearly 5000sq m is expected to sell for more than $20m.