A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Joel Robinson

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

Warrawee

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The Warrawee home of miner Jerry Ren, who was once dubbed the Northern Territory’s only billionaire, is whispered to have been sold.
Bremon, which cost $11.5 million in 2010, is an imposing house on a 6400 square metre Chilton Parade holding.
There are suggestions the Chinese-born Australian Wilson Hui Xiong Xue, the self-described shoe king of China who dabbles in mining, may have an interest in its acquisition.
Xue owns the former Balmoral Slopes home of Richard and Jane Freudenstein that cost $23,733,800.
Ren has been bankrupted and is separated from his wife Xia Kong. 
This article was first published in the Sunday Telegraph.
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firstname1-iYD4UYzvBa

Jerry Ren's Warrawee home rumoured to have been sold

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A Warrawee five bedroom house designed by architect Augustus Aley has been sold.
It was offered by Carl Ferris and Donna Ferris from McConnell Bourn, without public price guidance.
<a href="https://www.realestate.com.au/sold/property-house-nsw-warrawee-128677922" target="_blank">Located at 8 Yosefa Avenue</a>, the 1920s Spanish Mission villa has been transformed into a laid back style, sophistication and contemporary family living.
The first level of the house comes with the monochrome kitchen with ample bench space, formal and relaxed living rooms, and lounge with fireplace.
The second floor features parent retreat with own balcony and additional fifth bedroom. 
<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/2018/7/23/warrawee%201.jpg" alt="">
Additional extras include selected fixtures and fittings throughout the home, including rich hardwood floors, large light filling windows, plantation shutters, high patterned ceilings plus an array of pendant lighting.
The outdoor features landscaped backyard, paved alfresco terrace, gourmet veggie garden and tranquil water fountain as well as grassy lawns.
It is within walking distance to Warrawee Station and Knox Grammar, and also minutes from village shops, local eateries, buses plus local reserves.
The suburb's median house price sits at <a href="/developments/warrawee-nsw-2074">$2,576,000</a>, according to CoreLogic.
<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/2018/7/23/warrawee%203.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

1920s Spanish Mission-style Warrawee gem sold

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International award-winning aged care developer Mark Moran Group are teaming up with a number of industry leaders to create a new batch of residential apartments on Sydney's upper north shore.
The Warrawee apartments dubbed 'Embrace' will be created by architect Benson McCormack, interior designer Evette Moran and landscape architect Charlie Albone.
The project at 1496 Pacific Highway will comprise 52 one, two and three bedroom apartments over two buildings. 
Mark Moran Group founders Mark and Evette Moran decided that the time was right to share their expertise, according to Mark Moran Group property director David Bacon.
“Our development philosophy is to consistently design with integrity and innovation… maintaining a specific focus on user delight and life quality," Bacon said.
"We develop, own and successfully operate a varied property portfolio across seniors, residential, tourism and hospitality sectors… a collaboration with residential apartments is the next exciting step for the Mark Moran Group.
Bacon said Mark Moran Group have assembled an exceptional project team to deliver a unique and wonderful setting.
<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/2018/3/26/war2.jpg" alt="">
Savills are marketing the campaign lead by the director of residential projects Peter Coulton.
“Evette Moran is regarded as one of the most innovative interior designers around," Coulton said. 
In 2016 she was awarded Industry Changemaker for innovation for all of Australia and Asia.
“The architects, Benson McCormack Architecture, have worked with landscape architect Charlie Albone from the hit television programme, Selling Houses Australia, to create a beautiful communal courtyard downstairs between the two buildings," Coulton said.
A rooftop garden will feature BBQs and shading, providing living space extensions and space for a true community to foster.
There will be citrus trees and a herb garden within the central communal courtyard.
The development overlooks a nature reserve at the rear, while existing native trees on the site have been included in the landscape plans.
For more information <a href="http://www.embracewarrawee.com.au/" target="_blank">click here.</a>
 
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jrobinson-rf4aSBido9

Mark Moran Group diversify into residential development 

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The former Star City chief executive David Banks and his wife, Jackie, have settled on Wichita, the Warrawee trophy home.
Banks, who sits on the board of Aristocrat, paid $5.25 million for the <a href="https://www.realestate.com.au/sold/property-house-nsw-warrawee-124708826" target="_blank">historic residence</a> that was built in 1928.
It was owned by author Penelope Janu, wife of WorleyParsons’ general counsel Peter Janu.
Designed by renowned architect Emil Sodersten, the Tudor-style home featured in The Australian Home Beautiful magazine in 1930.
It sits in Peter Fudge designed gardens and has five bedrooms, four bathrooms and an infinity edge pool.
Chadwick Real Estate agent Lynette Malcolm sold the home.
Banks was previously based in the James Orwin, Georgian-style designed Pymble home Ballinlough, which he sold to former chief justice of the High Court Murray Gleeson and his wife Robyn.
Gleeson sold Sandon, his home on the same road, just before the purchase.
 
 
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David Banks buys Wichita at Warrawee

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One of the Northern Territory's richest oil and gas magnates Jerry Ren, has listed his huge Warrawee mansion, Pantagruel.
Ren paid a suburb record $11.5 million in 2010 for the massive nine bedroom, 11 bathroom home that spans over 2000 sqm.
Architect Espie Dodds designed the home in the 1980s for oil magnate Pat Burke, drawing inspiration from the colonial era's Elizabeth Bay House.
It first sold incomplete in 1999 for $3 million to entrepreneur Simon and Brenda Tripp.
The home with stately formal lounge and banquet style dining room has a theatre, full sized billiard room, home bar, 3,000 bottle wine cellar and home office.
There's a pool and championship tennis court on the large 6,405 sqm private estate which Luschwitz Real Estate Pymble agent Stephen Sales listed this week.
There are $15 million expectations.
Locals have long referred to it as the Chilton Hilton given its nine bedrooms and 11 bathrooms.
This article first appeared in the Daily Telegraph.
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jchancellor-FAypfDUnLy

Magnate Jerry Ren lists Warrawee mansion Pantagruel

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Last spring's trophy listing on the upper north shore, Kooyong at Warrawee sold with the settlement price showing at $7.85 million through Christies International agent Darren Curtis.
Kooyong (pictured above) is the historic Warrawee mansion on 9,000 square metres that last traded for $6.35 million in late 2008 when bought by the chief financial officer of Sirius Minerals, Jason Murray, and his wife, Danni.
It has been bought by the Hitchcock-Gransier family who sold through LJ Hooker's Robert Ward for $4.1 million in Lindfield late last year, but who still own at Dee Why. It's Francois Hitchcock and Jackie Gransier.
Kooyong is estimated as still ranking as the area's largest estates, and unquestionably one of its most historically significant properties given<a href="https://radicalterrace.com/post/30809445267/kooyong-55-hastings-road-warrawee-sulman" target="_blank"> the 1895 mansion was designed by architect Sir John Sulman</a>. Kooyong, originally named Upton Grey, was built for the prominent flour milling industrialist Gillespie family, who lived there until 1917 when the property sold to William Henry Locke, the general manager of Royal Exchange Assurance of London, who renamed it Kooyong.
The sale is not however a suburb record which has stood as $11.5 million since 2010 when mining magnate Jerry Ren bought Bremon, the mansion once known as Pantugeul. Ren is the controlling shareholder in the privately owned Australian Oil and Gas, which has mining rights over close to 300,000 square kilometres - nearly a fifth of the Northern Territory. 
But Title Tattle is now aware there has apparently been a new suburb record in neighbouring Wahroonga of about $9.2 million. It's a house that likewise has had a name change over the years.
It's <a href="https://www.ourestates.com.au/properties.php?id=9394153" target="_blank">Wairimu the 1927 five-bedroom, 3228-square-metre Water Street home</a> (pictured below) with tennis court and pool. It was sold by the veteran expatriate television executive Steve Askew and his wife, Cressida after being listed for two years with $11 million hopes presumably on top of it having an amazing - and befitting - home cinema.
Our Estates agent Adam Regan secured the sale of the six-bedroom property with the buyer being a senior executive from an accounting firm in China.
<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/2014/04/02/1.jpg" alt="">
The Wahroonga estate previously had traded in 2007 for $5.2 million, when it was bought some 18 months after its listing by the hotelier Courtney-O'Connor family.
It had traded in 1991 when the Courtney-O'Connor family bought it for $2.5 million.
Property Observer columnist Margie Blok says she knew the property originally as the Penman Residence, designed by Hugh Venables Vernon. It's also been known as Broadlands. And the Wairimu name stems from "wai" meaning "by the water" in Maori and rimu is a New Zealand tree.
The veteran television executive Askew was chief operating officer for News Corp Star TV in Asia, then turning his craft to co-producing movies with Jackie Chan and Andy Lau. The latest Wahroonga sale bettered a late 2013 spring sale on Burns Road through Christies agent Darren Curtis which briefly held the suburb record at $7.5 million.
In 1928, Locke sold Kooyong to barrister Horace Markell, QC, who owned it until the late 1940s when the Australian federal government bought it for the Department of Social Services as a rehabilitation centre.
In 1978, Kooyong was transferred to the CSIRO.
In 1986, shortly after the NSW government imposed an interim conservation order, the property sold for $2.3 million to Knox Grammar School.
<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/2014/04/02/10.jpg" alt="">
Title Tattle recalls in 2001 Knox Grammar abandoned plans to develop it into a boarding school. There were sheep that grazed on the then prestigious 12,500 square metre property which Knox had been using in agricultural study classes.
For more than 10 years residents of Hastings Road and Pibrac Avenue led by Ian Londish had objected to any development, and while the school eventually won development approval in 1997, it decided after a spending priorities review that the boarding facilities could be provided elsewhere at a significantly lower cost.
When Knox sold the Hastings Road property to the Cahill family for $5.7 million in 2002 the grand house and its outbuildings were in a state of extreme disrepair.
Subsequently, two blocks of land were subdivided from the estate.
In December 2008, the Cahills then sold Kooyong for $6.35 million to Jason Murray, who is the chief financial officer of Sirius Minerals, and his interior designer wife, Danni.
The Murrays renovated even adding a private pub in one of the three outbuildings. 
<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/2014/04/02/4.jpg" alt="">
<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/2014/04/02/5.jpg" alt="">
<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/2014/04/02/6.jpg" alt="">
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