Source: The Daily Telegraph
SYDNEY'S elite continue to defy a sluggish prestige housing market by listing properties at incredible asking prices.
The latest, on Point Piper's Wunulla Rd, is an Edwardian waterfront mansion that belongs to liquor industry bigwig John Piven-Large.
Mr Piven-Large is seeking offers of $40 million and over for the property, which occupies 1100sq/m of prime harbour-front land and features a four-bedroom house, a one-bedroom self-contained apartment and a private stretch of tidal beach.
Mr Piven-Large made his fortune in 1987 when brewing kingpin Fosters purchased Cellarmasters, of which it is believed he had an estimated 45 per cent stake - worth $160 million.
If achieved, the sale would give him capital growth of $5 million or more since the property last traded.
Source: The Daily Telegraph
That would be cause for celebration for most homeowners, but would only represent 14 per cent growth across two decades in this case.
Mr Piven-Large joins a list of Point Piper owners with high hopes, but history suggests he should not hold his breath for a quick sale.
His neighbours two doors down, entrepreneur Deke Miskin and wife Eve, want $55 million for their house, which has been listed on and off since 2007, when the Miskins rejected an offer in that vicinity by the Lowy family.
Meanwhile, nearby Wolseley Rd hosts a number of long-term listings, including the home of the late founders of HPM Industries Peter and Ruth Simon, listed in 2009 for $60 million, and the hillside property of executive head-hunter Julia Ross, listed in 2011 for $40 million plus.
Source: The Daily Telegraph
The Piven-Large house, which dates back to the early 1900s, was given a grand makeover by respected architect Espie Dods in the 1990s to restore it to its original Edwardian glory.
It now features custom-fitted timber cabinetry in the library and office, elegant furnishings with chintz covered chairs strategically placed in front of ornate fireplaces, floral themed bedrooms - all with ensuites and harbour views - and casual and formal entertaining areas.
The jewel in the crown is the 13m heated salt-water swimming pool, positioned right at water's edge with the Harbour Bridge as a backdrop.
Source: The Daily Telegraph
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