The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Darling Point, Sydney

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Brambles chairman Stephen Johns has secured the Darling Point apartment of Silicon Valley software billionaire David Doyle which has sold off-market for around $16 million.
Doyle, a software pioneer, paid $7.1 million for the lavish New Beach Road spread in 2000, a record breaking apartment sale in Sydney's eastern suburbs at the time.
Doyle, who co-founded Quest Software, a Nasdaq-listed company which he sold for around $1 billion, was the backer of Neil Perry's restaurant, Rockpool Bar &amp; Grill.
The unit in the Burley Katon Halliday designed project was minimalist in design.
The four bedroom penthouse comprises 456 sqm of internal space, 103 sqm of terraces and 12 sqm of rooftop garden.
It comes with a private gym, study, maid's suite, home theatre and large terrace which, beyond the d'Albora marina, take in the Harbour Bridge.
Doyle and chef and entrepreneur Neil Perry sold the Rockpool restaurant empire to private equity-backed Urban Purveyor Group last year.
Doyle had helped finance the company when it first launched over a decade ago.
The Darling Point penthouse buy comes after Johns and wife Michele Bender listed their Bellevue Hill trophy home, Belhaven.
The Victoria Road residence comes with between $25 million and $27 million hopes.
The long time Westfield executive paid $4.5 million for the home in 1989. He engaged heritage architect Howard Tanner to undertake a restoration and renovation.
Belhaven dates back to 1919 when it was rebuilt by Sunday Times newspaper owner and showbiz entrepreneur Hugh “Huge Deal” McIntosh.
It has been called home by Resch’s brewing scion Arnold Resch and controversial businessman Leslie Owen Bailey, who ran it as the Belhaven Babies Home.
Set on 2,100 sqm, the three storey home with eight living areas on the entry level alone has six bedrooms, six bathrooms, a sun room, library, two studies and a rooftop terrace.
This article first appeared in the Sunday Telegraph.
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Brambles chairman Stephen Johns buys in Darling Point

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Fashion designer turned food blogger Stephanie Conley-Buhre and entrepreneur husband Oskar have listed their Darling Point home.
The couple had Luigi Rosselli design the home on <a href="https://www.realestate.com.au/property/9-eastbourne-rd-darling-point-nsw-2027" target="_blank">Eastbourne Road</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/01/darl-apr2.jpg" alt="">
Balancing period grace with contemporary style, the home across four levels has six bedrooms, five bathrooms. There's also an 800 bottle wine cellar.
A solar heated swimming pool overlooks the level lawn.
In 2008 Stephanie moved from fashion to food, which led to a food and entertaining blog 'The Hostess', where she shares her favourite recipes and entertaining tips.
This article first appeared in The Daily Telegraph. 
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jonathanchancellor-7SQnKwU6yx

Food blogger Stephanie Conley-Buhre puts Darling Point home on the menu

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The lowkey millionaire property developer Nabil Gazal has bought on one of Sydney's finest harbourfront promenades spending $7.11 million on a Darling Point apartment.
The 305 sqm apartment in the exclusive L'amarre building extends over a whole floor of the New Beach Road block.
There's also whispers Ryan Stokes and his wife Claire Campbell have bought the nearby $16 million, 1910 Federation residence Rilworth as their matrimonial home overlooking Yarranabbe Park.
One of just four, the 305 sq m L'amarre apartment with limestone floors features a loggia with gun barrel views of the harbour.
There are three bedrooms, with the master wing comprising a private balcony and expansive walk in wardrobe.
1st City agent Julian Hasemer and Tom Murray sold the home after just five days on the market.
It previously belonged to businessman Michael Hayes, who had paid Star Wars producer Rick McCallum $6.7 million just a year earlier.
Gazal is still in good company in the Iain Halliday designed building.
New Zealand property tycoon Mark Wyborn bought into the block in 2014, spending $6.6 million on his three bedroom apartment on the floor above Gazal.
Its penthouse previously belonged to Robin White, widow of the late arts patron and L'amarre developer, Ron White, who sold for $6 million in 2014.
Nabil Gazal, who spent $6.4million on a Palm Beach beachfront, is the brother of 2002 Miss World contestant Nicole Gazal.
The family is best known for their Liverpool factory outlet development by his late father Nabil Gazal senior.
This article first appeared in the Sunday Telegraph.
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Property developer Nabil Gazal buys in Darling Point

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The Sydney power couple Michael and Helen Nugent have bought in Darling Point, after selling in Bellevue Hill.
It was the $10.85 million home of architect Dennis Rabinowitz and his wife Joan.
<img src="https://www.urban.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2012.00.49%20PM.png" alt="">
It featured in Stephen Crafti’s book, Architects’ Houses after the 1890s-era residence was converted into a modern home from its prior austere block of five one-bedders. 
<img src="https://www.urban.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2012.01.42%20PM.png" alt="">
The property was originally built as a semi-detached house, but was turned into a freestanding home when the house next door was demolished. 
<img src="https://www.urban.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2012.07.47%20PM.png" alt="">
Ray White Double Bay agents Elliott Placks and Ashley Bierman had the listing. 
<img src="https://www.urban.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2012.04.35%20PM.png" alt="" width="314" height="338">
Many original features, including the front door, the cornices and the archway, were restored.
<img src="https://www.urban.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2012.09.12%20PM.png" alt="" width="297" height="299">
A glass lift was installed to give the house a feeling of light, and connect the house, along with a bridge to the main living area, which makes the most of the view of Sydney Harbour. 
<img src="https://www.urban.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2012.10.26%20PM.png" alt="" width="302" height="398">
Their Bellevue Hill trophy home, set in manicured Italianate gardens, sold at $14.75 million.
<img src="https://www.urban.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2012.10.38%20PM.png" alt="" width="347" height="391">
It was a Michael Suttor-designed home with Michael Love interiors.
This article first appeared in the Sunday Telegraph.
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Sydney power couple buy in Darling Point

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Atherfield, the 1870 Darling Point residence of former Scottish and Newcastle Brewing CEO and Brambles director Tony Froggatt and his wife Christine, has been sold.
It was sold by Brad Pillinger at Pillinger Double Bay who recently secured the trophy home listing. It had previously been listed with more than $15 million when initially listed for sale.
The <a href="https://www.realestate.com.au/sold/property-house-nsw-darling+point-123667438" target="_blank">five bedroom gothic revival mansion</a> was first occupied by the Willis family, with an 1880s sketch by James Willis hanging in the Eastbourne Road home.
The home's wine cellar
<img src="/images/2016/10/Eastbourne2.jpg" alt="" width="477" height="271">
With harbour views from its 1150sqm grounds, it was last sold by Di O'Neal, the widow of the late St George Bank chief Ed O'Neal in 2002 to Froggart for $6 million. 
The Froggart's own an $8 million whole floor apartment in the Gazebo building in the Elizabeth Bay.
The view from the pool
<img src="/images/2016/10/Eastbourne1.jpg" alt="" width="478" height="251">
The five-bedroom Gothic Revival Eastbourne Road property was sold in 2002 when Tony Froggart was heading the UK brewery, Scottish &amp; Newcastle, pubs division.
He then served as chief of Heineken UK Limited from May 2003 to November  2007 when he returned to Australia. 
Froggatt, who holds a Bachelor of Law Degree from Queen Mary College, London and an MBA from Columbia Business School, New York, serves on the boards of Axa Australia and Brambles Ltd. 
It been home to who's who of leading businessmen including David Voss.
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Atherfield, the 1870 Darling Point home, has sold

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The former stockbroker turned fund manager, Charlie Aitken is backing himself against the upmarket Sydney property market. 
Part of the sale proceeds of his $10.5 million Darling Point villa, which settles next month, will be put into his $75 million fund, Aitken Investment Management, rather than back into bricks and mortar.
"It's all about backing myself and having a go," he told columnist Philip Baker at The Australian Financial Review.
"I think there is more money to be made in global stocks than there is in the Sydney property market and I'll back my fund over Australian residential property," he says. 
The fund manager Charlie Aitken and wife Ellie sold their Darling Point villa in March, some six months after it hit the market.
After the couple swapped agents, it was offered with revised $11 million hopes through Elliot Placks and Richard Carwin of Ray White Double Bay.
They secured around $10.5 million having bought the five bedroom house, now with Thomas Hamel interiors, for $6.95 million in 2008.
The Mediterranean-style property was bought from William Penfold, the last of the family members to head the country's oldest stationery company, WC Penfold.
The Eastbourne Avenue house sits in gardens designed by Paul Bangay.
It has been bought by emergency financier Tim Odillo Maher and his fashionista wife, Victoria Montano.
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Darling Point, Sydney

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