$150m sale to reshape Sydney’s east

33-37 Dover Rd, Rose Bay and 20-30 Wilberforce Ave, Rose Bay. Picture: Million Dollar Listing Sydney.

There’s been a $150m sale in Sydney’s east, and it’s set to benefit a certain group in the community.

The sale of five houses and two blocks of units at 33-37 Dover Rd and 2-30 Wilberforce Ave Rose Bay was the work of former rugby league player turned real estate gun, Alex Lyons, in conjunction with his Raine and Horne Double Bay colleague Dean Power and principal Ric Serrao.

News of the sale first appeared on Million Dollar Listing Sydney, with drone footage of the huge site.

But the purchaser has been a mystery.

When contacted, Lyons was tight-lipped: “Sorry, I can’t discuss it, I’ve signed an NDA,” was his only comment.

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Alex Lyons is a former rugby league player who now sells $300m worth of real estate a year. Pictured at one of his listings, a waterfront property in Potts Point. Picture: Jonathan Ng

Yet other sources advise the purchaser is Graeme Skerritt, who owns Pathways Aged Care, and it’s understood he’s planning to build a luxury facility on the 3000sqm amalgamated site.

Mr Skerritt has been contacted for comment.

Pathways currently operates three upmarket aged care homes in Sydney — in Northbridge Killara and Cronulla.

The Pathways Residences website advises: “We offer a wide range of services, from residential aged care, respite and luxury lifestyle options to person-centred palliative care and diverse memory support for those with a diagnosis of dementia.”

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L to R: Managing Director of Pathways Residences Graeme Skerritt and Urban Concepts Community Consultation Manager Belinda Barnett, at Pathways, Retirement village on Sailors Bay Road, Northbridge. Picture: John Appleyard

The homes set for demolition include an older-style residence on a 602sqm block at 26 Wilberforce Ave that cost its owners $1.32m in 1998; another on a 557sqm block 28 Wilberforce Ave that cost $685,000 in 1993 and a more modern four-bedroom residence on a 544 sqm block at 30 Wilberforce Ave that cost $4.65m in 2017.

20 Wilberforce Ave is a block of six individual owners in an older-style apartment block.

Records show that the Dover Rd homes included Mary Kapos, who’d bought the three-bedroom home on a 477sqm block at 33 Dover Rd, with her late husband, shop proprieter Spiro Kapos, for an unknown figure in 1978.

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3There are two apartment blocks on the site. Picture: Million Dollar Listing.

There’s also a block for flats with four individual owners, all who were lured to sell up.

Since the zoning changes announced in February encouraging redevelopment of homes for apartment development close to amenities, there’s been a surge in sales of amalgamated sites across the city, especially the east and around Mosman.

This site allows for a six-storey building with a 22m height limit.

The Raine and Horne team also sold the amalgamated site next door to this one, for $75m, to apartment developer Fortis.

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