Arts and Crafts Waterfront Home in Vaucluse NSW
Date July 28, 2014
The Vaucluse waterfront property Green Gables – once owned by merchant banker Frank Nugan – has sold for just shy of its $20 million asking price.
- A caveat on the property indicates that the buyer is Michelle Malek, wife of the director of the National Institute of Dramatic Art, Ron Malek.
- The Coolong Road residence has been home to the Mayo family since 1981, when it was bought for $1.15 million.
- Before the Mayo family bought the property, it was owned by merchant banker Frank Nugan, who paid $450,000 for it in 1976.
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- On the waterfront at Vaucluse Bay, the Mayo family has listed its Coolong Road residence for sale by expressions of interest through Richardson & Wrench Double Bay’s James McCowan and Michael Dunn in conjunction with LJ Hooker Double Bay’s Bill Malouf.
- Known as Green Gables, it’s a couple of doors from Coolong, the 4100 sq m waterfront property (currently rented out to Lachlan and Sarah Murdoch) that was sold for a record-setting $47 million in 2008 by Allco’s David Coe to expat currency trader Ivan Ritossa and his wife, Marina.
- With $20 million-plus price hopes, the Mayo family’s circa-1920 five-bedroom residence stands on a 1600 sq m block with a sandy beach, private jetty and harbourside pool. –http://australianpropertyforum.com/topic/9124425/1/
|Green Gables, 29 Coolong Road Vaucluse NSW|
Green Gables was last in the headlines when in the 1980 its then owner, Frank Nugan, shot himself shortly before his merchant bank Nugan Hand went into receivership and was involved in the odd Royal Commission or two. The Mayo family paid $1.15 million in 1981 for the Vaucluse waterfront, which Nugan bought in 1976 for $450,000.
“No sale this week of an $18 million Vaucluse harbourfront. The SMH’s Domain.com.au report of the purported sale on Sydney Harbour proved inaccurate as the Mayo family has yet to sell Green Gables, its Coolong Road residence, for $18 million. Today’s report thereby also wrongly identified hotelier Bob Berger as its buyer. Rumours aplenty yes, but emphatic denials. No doubt there will be a fascinating backstory as to what did and didn’t transpire in the negotiations over the property on Thursday…”
“A VAUCLUSE waterfront home sold for $18 million yesterday, the third highest priced sale this year, and hot on the heels of last month’s $23 million sale of Kalua, a Palm Beach estate, to car dealer Laurie Sutton.
- The Vaucluse house in Coolong Road was bought by Bob Berger, a member of the hotelier family that owns the Wentworth Hotel.
- Known as Green Gables, the home is on a 1700 square metres block with a sandy beach, private jetty and harbourside swimming pool.
The opportunity of a lifetime, with significant frontage to Vaucluse Bay & the shimmering harbour. This extraordinary parcel of park-like land, with a circa 1920’s gracious family home, wrapped in glorious views and the gentle sound of lapping water is offered for the first time in 30 years.”
This unique home comes with its own private deepwater jetty, sandy beach and sundrenched pool with a prime Northerly aspect.
Virtually hidden from the road in a prized enclave alongside Nielsen Park Beach, opening to expansive level gardens.
The spacious layout features a drawing room, sunroom, formal dining room, family room, study/library,
Five bedrooms, 4 bathrooms, eat-in gas kitchen, walk in pantry, internal laundry, plentiful storage.
High ceilings, 3 gas fireplaces, timber floors, alarm system, security gated driveway to multiple parking (1 undercover), and an array of botanical delights.
- ^ http://www.propertyobserver.com.au/title-tattle/publican-doesn-t-spend-%2418-million-on-the-still-unsold-green-gables-title-tattle