property Archives - Rose Bay Today

Historic Rose Bay Mansion Sells for $45.1 Million, Setting Potential New Benchmark

Photo Credit: Richardson & Wrench Double Bay

A prestigious Rose Bay property has changed hands for $45.1 million at a private auction held on 24 September, marking what could be a new benchmark for Australian residential properties sold under the hammer.

The grand estate at 19 Kent Rd, known as The Knoll due to its elevated position, had initially attracted interest in the $30 million to $35 million range when it first came to market. The final sale price exceeded these early expectations by more than $10 million.

Photo Credit: Richardson & Wrench Double Bay

The sprawling 2,536-square-metre property, which offered six bedrooms and commanding views over the Royal Sydney Golf Course, had been held by the same family for six decades. According to selling agents Michael Dunn and James Dunn of Richardson & Wrench Double Bay, the vendors were descendants of the Burns family, connected to Sir James Burns who established the merchant company Burns Philp.

Nine registered bidders competed for the trophy home, with four participating actively in the auction conducted by Jessie Davidson. Bidding commenced at $29 million and advanced rapidly in million-dollar increments before the property was declared on the market at $40 million.

The winning bid came from a local family, described by the agents as a couple in their 50s, who secured the keys with a final offer of $45.1 million. Whilst speculation has circulated about the purchasers’ possible connection to the nearby golf club, this remains unconfirmed.

Michael Dunn expressed satisfaction with the outcome, stating he believed it could represent a record for a residential property sold at auction. The previous benchmark was set at $43.1 million for a Toorak property in Victoria, which sold in 2021.

Built in 1935 and designed by Scott, Green & Scott for WA Freeman, the Georgian revival-style residence evokes the character of a British country manor. The property features generous rooms with high ceilings, established gardens, level lawns, and a 15.2-metre swimming pool.

The home’s proximity to the recently renovated Royal Sydney Golf Club proved to be a significant drawcard, with the fairways visible from the residence. As a deceased estate, The Knoll represented a rare opportunity to acquire one of the larger non-waterfront properties in Rose Bay, having had only a handful of owners throughout its nearly century-long history.

The new owners are expected to undertake renovations to the heritage property.

Published 24-September-2025

Conway Home Caught in Hospitality Magnate’s Financial Troubles

A Rose Bay family home has become the latest casualty in the ongoing financial troubles facing hospitality entrepreneur Jon Adgemis, with the Conway Avenue property now under mortgagee possession and being prepared for sale.

The six-bedroom house at 2A Conway Avenue, situated on a 567-square-metre block, was co-owned by Mr Adgemis and his mother. The property had been home to Mr Adgemis’s sister and her son until recently, when it was emptied and secured by the mortgagee.

Signs now posted on the property doors warn that “the mortgagee is in possession of this property” and advise that all doors and windows have been secured, with prosecution threatened for any trespassers. Padlocks have been installed on the gates, and the interior has been stripped of furniture and fittings, including televisions that were removed from the walls.

The repossession forms part of efforts by La Trobe Financial to recover $6.2 million that Mr Adgemis borrowed to finance his business operations. The financial institution had applied to the Supreme Court to repossess the Rose Bay house, which was purchased for $4.45 million in 2018.

Reports indicate that repossession notices have appeared on the property as part of efforts to recover millions in business debts, though it is understood that Mr Adgemis’s mother’s share of the house will not be affected by the action taken against her son.

The situation has proved particularly complex due to allegations that emerged earlier this year regarding the mortgage arrangement. Court proceedings revealed that Mr Adgemis’s mother claimed she had no knowledge of legal documents related to the mortgage and maintained she never received any such paperwork.

Real estate agents Fred Small and Steven Zoellner from Laing and Simmons Double Bay have been appointed to handle the sale. Industry estimates suggest the property could now be worth between $7 million and $8 million, representing significant appreciation since its 2018 purchase.

The property’s title reveals multiple caveats from various creditors, including the chief commissioner of state revenue, highlighting the extent of the financial entanglements surrounding Mr Adgemis’s business empire.

Mr Adgemis’s Public Hospitality Group has accumulated debts reported to be around $500 million, leading to a series of refinancing attempts and property disposals. In February 2025, Mr Adgemis paid $400,000 to creditors as part of a settlement deal, though this appears insufficient to resolve all outstanding issues.

The hospitality entrepreneur’s business empire previously included prominent Sydney venues such as Oxford House, The Lady Hampshire, Camelia Grove, and Noahs Backpackers. However, the business began to struggle after taking on hundreds of millions in debt at high interest rates just before financing costs rose significantly.

Mr Adgemis, a former KPMG dealmaker, has relocated from the family’s Rose Bay home and now resides in a Bondi apartment. The Conway Avenue property situation represents a personal impact of the broader financial difficulties that have affected his hospitality ventures across Sydney.

The repossession highlights how commercial financial troubles can extend to impact family properties and local communities, with Rose Bay residents witnessing the dramatic change in circumstances at what was once a thriving family home.

The property is expected to be placed on the market in coming weeks, with the proceeds to be applied towards outstanding debts. Local residents and property watchers will be observing the sale closely, given the premium location and the substantial value increase since the original purchase.

Published 18-July-2025

Rose Bay Waterfront Block Could Smash National Property Records

Photo Credit: Forbes Global Properties

A sprawling 4400 square metre waterfront property in Rose Bay has quietly hit the market, with industry insiders suggesting it could potentially surpass Australia’s current $130 million house price record.

The exceptional holding at 754-760 New South Head Road represents one of Sydney Harbour’s most prized residential sites, combining two residences, recreational facilities, and what many consider the suburb’s finest harbour views.

The property has deep ties to Australian medical history, having been in the Dan family for over four decades. Records show Adrienne Dan, wife of renowned neurosurgeon Professor Noel Dan AM, purchased the beachfront portion for $1.03 million in 1983. Professor Dan’s groundbreaking epidemiological research into head injuries was instrumental in introducing random breath testing to NSW in 1982, a public health initiative that has saved countless lives.

What makes this site particularly attractive to potential buyers is its rare combination of scale and location. The 4400 square metre block comprises five separate titles and boasts uninterrupted views towards the Harbour Bridge, along with direct beach access and dual street frontages.

The family’s decision to market the entire consolidated site marks a significant shift from previous attempts. In 2023, part of the property was offered separately, creating an oddly-shaped 3300 square metre block that may have deterred potential buyers despite carrying an $85 million price guide.

The current offering includes an additional 1029 square metre parcel featuring a Victorian-style residence, which the family acquired in 1986 for $629,000. This portion, registered under art gallery owner Sally Maree Dan-Cuthbert (Professor Dan’s daughter), provides crucial street-to-beach access and dual driveway options.

Property market observers note the site’s potential has long been recognised. The block was previously owned by advertising executive John Singleton before the Dan family’s purchase. Initial market testing occurred in 2017, coinciding with significant movements in Sydney’s luxury property sector.

The timing appears strategic, following recent record-breaking sales in nearby Point Piper. Atlassian co-founder Scott Farquhar’s $130 million sale of the Elaine estate in October 2024 has reset expectations for Sydney’s waterfront property market.

Sales agents Paul Biller of Biller Property and Joshua Punin of Biller Projects are managing the off-market listing, with sources indicating developer interest has already materialised into formal offers.

The site’s development potential appears substantial, particularly given recent planning precedents for large waterfront parcels in the eastern suburbs. However, the property’s heritage significance and community value as one of Rose Bay’s last substantial private waterfront holdings may influence future development considerations.

For Rose Bay residents, the sale represents the end of an era, as the Dan family’s stewardship of this prime harbourfront land spans more than 40 years of local history.

Published 7-July-2025

Rose Bay Homeowners Seek $40 Million From Development Site Sale

Photo Credit: Google Maps

Five Rose Bay homeowners have combined their properties into a single development site expected to sell for over $40 million, with expressions of interest closing June 5.

The properties at 17, 17A, 19, 21, and 23 Carlisle Street form a 1392-square-meter site that has already attracted 150 inquiries from apartment developers, according to Colliers agent Paul Ephron.

“They might be worth $5m or $5.5m individually, but they’re likely to get $8.5m or $9m in this type of deal,” Ephron said.

The amalgamated properties include homes with varying features and histories. Property number 17A, purchased for just $190,000 in 1987, now carries a base price of $8.45 million as part of the package. Meanwhile, 19 Carlisle Street was bought for $3.4 million in 2021 and underwent a $500,000 renovation afterward.

These homeowners are capitalising on the NSW Government’s new Low and Mid-Rise Housing Policy, gazetted on February 28, which allows for six-story apartment buildings—potentially eight stories if affordable housing is included—within 400 meters of centres and transport hubs.

The site’s location makes it particularly attractive for downsizer apartments, being within walking distance of Rose Bay village. Colliers agents highlight its potential views of the harbour, Bridge, city skyline, and its level access as key selling points.

Ephron, who secured the listing about a month ago with colleagues Guillaume Volz and Marina Corvalan, noted that while there’s a “moment of frenzy” in the market, success depends on understanding each site’s specific characteristics.

The Carlisle Street location sits approximately 10 minutes from another amalgamated site on Dover Road that recently sold to apartment developer Fortis for $75 million.

Published 8-May-2025

Sydney Roosters Star Lists Rose Bay Investment Property

A prime Rose Bay property owned by Sydney Roosters and NSW Origin star Angus Crichton has hit the market with a $2.5 million price guide. The football player prepares for his upcoming wedding and seeks to upsize to a family home.

The three-bedroom full-brick semi at 73 Onslow Street occupies a coveted position at the end of a tree-lined cul-de-sac on a 308 square meter block.

Crichton purchased the investment property in 2018 for $2.18 million and has been collecting $1,650 per week in rental income.

Raine and Horne Double Bay’s Alex Lyons is handling the sale, with the auction scheduled for late May.

The property features single-level living with high ceilings and timber floors throughout.

All three bedrooms include built-in wardrobes, with the main bedroom offering an ensuite bathroom.

A modern stone kitchen equipped with Smeg gas appliances opens to living and dining areas that flow to an outdoor entertaining courtyard and level backyard.

The property also includes a lock-up garage plus an additional car space.

The listing comes as Crichton, 29, prepares to marry fiancée Chloe Esegbona next month. The State of Origin “man of the series” proposed during an off-season trip to the UK last December at Manchester’s iconic Midland Hotel. Esegbona celebrated her hen’s party on Anzac Day, making time to watch the Roosters defeat the Dragons at Allianz Stadium.

Published 28-April-2025

Rose Bay Waterfront Mansion Hits Market at $85 Million

Photo Credit: Forbes Global Properties

The Rose Bay property market has a new headline-grabbing listing, with Sicilian-born Orazio Camuglia and his wife Yolanda placing their waterfront compound on the market for an eye-watering $85 million.

The sleek three-residence family compound sits on 1138 square meters of absolute waterfront land on Tivoli Avenue and boasts uninterrupted 180-degree views across Sydney Harbour, featuring seaplanes, regattas, and ocean liners as a constantly changing panorama.

According to Camuglia, the view was so captivating when they first moved in that the family hardly watched television for about six months, preferring instead to observe the daily activities on the harbour from their balcony.

From Coogee Castle to Rose Bay Haven

Camuglia, who arrived in Australia as a seven-year-old from the Sicilian hilltop town of Castiglione di Sicilia, is no stranger to creating architectural landmarks. He previously built the famous “Coogee Castle,” a striking concrete mansion with ocean views designed by his brother-in-law, architect Renato D’Ettorre.

After selling that property to advertising mogul John Singleton in 2003 for $8.2 million (later purchased by crypto entrepreneur Fred Schebesta for $16.85 million in 2021), the Camuglias moved to Rose Bay with a vision for multigenerational living.

A Family Compound by the Harbour

What began as a duplex in 2004 has been transformed into an interconnected three-residence compound where Camuglia’s two sons and their families have lived alongside the couple, each with their own private space.

The property now features eight bedrooms, ten bathrooms, parking for four cars, and is equipped with marine-grade materials chosen specifically to withstand the harbour’s salty conditions.

Mediterranean Touches in Rose Bay

Perhaps most remarkable is how Camuglia has created a slice of Sicily on Sydney Harbour. The grounds include a hillside orchard garden with olives, grapes, lemons, figs, blood oranges, and even prickly pear.

Camuglia explains that he designed the garden to reflect his father’s efforts in Sicily, where he had terraced a garden on the side of a mountain. This Mediterranean touch allows the family to enjoy homegrown produce, with Camuglia noting that the prickly pears can be made into marmalade and liqueur.

Record-Breaking Potential

If the $85 million asking price is achieved, it would shatter the Rose Bay record of $55 million set in February for a Dumaresq Road property. The record was previously held by recycled shopping bag businessman Frank Qiang Geng.

The Tivoli Avenue strip is one of the area’s most exclusive, with neighbouring Villa Florida (once owned by Barry Humphries) selling for $45 million in 2021 to insurance broker founder Jim Angelis, who is currently rebuilding the property.

Forbes Global Properties agents Hui Xu and Ken Jacobs are managing the sale, with Jacobs recently noting that top-end homes are well-positioned to weather market uncertainties following US President Donald Trump’s tariff regime.The Camuglias are planning to split their time between Sydney and Italy, saying their harbour-front home has become “too big to lock up and leave” as they enter a new chapter of their lives.

Published 16-April-2025

Record-Breaking $55m House Sale Reshapes Rose Bay Luxury Market

Photo Credit: Pillinger

The record-breaking sale of 12 Dumaresq Road for $55 million has shattered the Rose Bay house price record by $5 million, establishing a new benchmark for the prestigious harbour suburb. The Bruce Stafford-designed residence sold after a significant $20 million price reduction from its original $75 million asking price.

This transaction decisively surpasses the previous Rose Bay record of approximately $50 million set in 2018 when Brett Blundy’s Bayview Hill Road property was purchased by Lawrence and Sylvia Myers. Both record sales were handled by the same agency, Pillinger.

The property’s prime location offers direct access to Dumaresq Reserve and the waterfront, positioning it among Rose Bay’s most coveted addresses. With panoramic harbour views extending to the Sydney Harbour Bridge and city skyline, the six-bedroom mansion exemplifies the high-end architectural style that has increasingly defined Rose Bay’s premium real estate market.

Originally purchased for $26.9 million in 2014 by businessman Frank Qiang Geng and Juanjuan Zhao, the property has more than doubled in value over the past decade, highlighting Rose Bay’s strong performance in Sydney’s luxury property sector.

The sale comes as Geng and Zhao prepare to move to Point Piper following their purchase of the waterfront mansion “Rockleigh” for approximately $82 million, suggesting continued movement within Sydney’s eastern suburbs premium market.

While sales agents Brad Pillinger and Michael Pallier declined to comment on the transaction, the listing’s removal from realestate.com.au indicates the deal has been finalised after an earlier agreement at the reduced price reportedly fell through.

Published 21-February-2025

Sydney’s Third-Highest Sale of 2024: Rose Bay Property Snapped Up for $38M

As Sydney’s luxury real estate market experiences a slowdown in trophy sales, a standout transaction has emerged in Rose Bay. A harbourfront property has changed hands for approximately $38 million, marking the city’s third-highest house price sale of the year.

Read: Orosi Unveils Plans for Landmark Mixed-Use Development in Rose Bay

The five-bedroom residence at Fernleigh Gardens, perched on the Rose Bay hillside, boasts uninterrupted views of Sydney Harbour. The property is a testament to luxury living, featuring a home theatre, lift, spa, sauna, pool, and gymnasium. These amenities, coupled with its prime location, justify its hefty price tag.

This sale represents a significant appreciation in value since its last transaction in 2017, when it sold for $19.18 million. The nearly twofold increase in just six years underscores the enduring appeal of Sydney’s premium waterfront properties.

In the context of Sydney’s high-end real estate market, this sale is particularly noteworthy. While the market has seen a decrease in trophy sales compared to previous years, this transaction stands out. It’s surpassed only by two other sales this year: the Rockleigh mansion in Point Piper at close to $82 million, and a Point Piper home that sold for over $50 million.

The Rose Bay sale contributes to a select group of ultra-high-end transactions in 2024. To date, there have been eight sales exceeding $30 million this year, a stark contrast to the same period last year when that number was reached in May alone.

Read: Club Rose Bay Shuts Down Day After Italian Bistro Grand Opening

This sale not only highlights the enduring appeal of Sydney’s harbour views but also demonstrates the resilience of the top end of the market, even in a period of overall market cooling. As the year progresses, it will be interesting to see if this sale catalyses further activity in Sydney’s luxury property sector.

Published 26-September-2024