Move over Mosman:The overlooked north shore suburbs now fetching $20m+

It used to be that the north shore’s trophy home market was pretty much confined to Mosman,with a big gap between values there and the backwaters of the Lane Cove River and Middle Harbour.

Hasn’t that changed in recent years. Trophy home sales in the $20 million range first spread in the post-COVID property boom to the waterfronts ofAbbotsford andNorthwood,then further afield toCastlecrag,Manly andWarrawee. Even Lavender Bay claims a higher sales result than Mosman thanks to property veteranGreg Paramor’s$42.2 million sale last year.

It is into this market thatAndrew Swan,head of Asian equities at Man GLG,and his wifeJill have listed their Northbridge home with expectations at the high end of the $20 million range given their plans to downsize within the Sydney market.

Not that Northbridge has not already staked a place in the local trophy home books thanks to last year’s$25 million sale of the home of Link chairmanMichael Carapiet.

Swan’s timing was also good on the buying side. The former BlackRock global equities specialist,purchased the Northbridge property in 2009 in the wake of the global financial crisis for $5 million.

A total rebuild followed a design by Tobias Partners to create what is now a four-level residence behind a gated entry,with a games room,gymnasium,five bedrooms in all,and Miles Baldwin-designed gardens.

Forbes Global Properties’ Ken Jacobs has the exclusive listing.

Two from one

Outgoing Transurban bossScott Charlton and his wifeAmanda have bought a second house in Mosman,this time paying $8 million at Balmoral slopes through Ray White Mosman’s Geoff Smith.

The contemporary four-bedroom house alongside Lawry Plunkett Reserve is in addition to the $15.5 million house the couple purchased at Clifton Gardens last year,and for which he lodged plans in May to demolish and rebuild it at a cost of $5 million.

Charlton,who from December takes up thejob at the helm of Sydney Airport,is among those who have cashed in on the north shore trophy home market boom of recent years,smashing the Castlecrag suburb’s high when he sold his waterfront home for $23.5 million.

Two-year itch

Mining industry bossMark Lochtenberg has returned his Whale Beach house to the market for $11 million,complete with recently approved plans by Rob Mills Architecture for a contemporary house on the 840-square-metre site.

The chairman of Equus Mining purchased it two years ago for $9.5 million when he sold his Bilgola Beach house for $14.5 million to Boost Juice founderJanine Allis.

Belle Property’s Mark Griffin has the listing.

There’s also a two-year turnaround on the Mosman house owned byDavid Wenkart,deputy chief at the private hospital owner Macquarie Health Corporation headed by his fatherDr Tom Wenkart.

The Fairfax Road house made headlines when it last sold in 2021 for $10.52 million after then ownerHarry Xiang Huang fled overseas with his former bossMichael Menghong Gu after the property giant iProsperity collapsed,leaving behind $350 million in debt. Neither have been found since.

De Brennan Property’s Jonathan De Brennan is yet to set a guide,but it is worth noting that Huang copped a loss on it from the $11.4 million he had paid for it in 2017.

Fit for Beatrix Potter

As if hospo entrepreneurSteve Bannigan hasn’t been busy enough reopening Sydney landmark Jacksons on George with his partners Paul Ford,publicanMichael Broome and restaurateurMaurice Terzini,there is also the business of selling his Wahroonga home.

For those who remember fondly the sticky carpets and tawdry behaviour that made the J on G so much fun in the 1990s,you might be disappointed to know the “pub” has reopened as a far more swanky affair complete with a hatted restaurant. (Honestly Sydney,is nothing sacred?)

Amid all that excitement Bannigan’s home hit property websites this week for $9.5 million ahead of a November 18 auction by DiJones’ Lynette Malcolm,who described it as “so cute,it’s like Beatrix Potter on steroids”.

The 2200-square-metre property with billiard room,gymnasium,pool and basketball court has been renovated throughout since it last traded in 2020 for $4.8 million.

Goldeneye opportunity

PhilanthropistGina Satterthwaite,a member of one of New Zealand’s richest families,is selling her Tamarama house following her purchase of a beachfront penthouse in Double Bay earlier this year for $14 million fromart collector Steve Nasteski.

The house is named “Goldeneye” in honour of the Jamaican home of novelistIan Fleming that was the inspiration behind a redesign by architect Kelvin Ho.

The Agency’s Bethwyn Richards has an $11.5 million guide for a November 25 auction.