‘Coveted’ Sydney mansion sets new price record

An enormous Sydney mansion, known for making neighbours mad with jealousy has just sold for a record price.

Sydney’s North Shore has just hit a new price record in the vicinity of $50m with the sale of 3 Kirkoswald Ave after less than a week on market.

The contemporary Susan Rothwell-designed mansion had potential buyers swarming long before it appeared online last week, according to selling agent Michael Coombs who listed the modern Mosman mansion with colleague Adrian Bridges from Atlas Lower North Shore.

The former price record for the North Shore sat at $43m, set in August on McLean Crescent, Mosman.

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Life is cool beside this pool.

The view isn’t bad either.

Although Coombs and Bridges declined to comment on the sale, its eventual price or its high net worth buyers, Coombs did confirm that there had been more than a dozen parties shown through the residence in the space of three days. He added that half of those potential purchasers put forward solid offers.

Last week, the Mosman house’s campaign launched with a guide of $45m to $50m. Sources close to the sale suggest the property sold at the very top end of the guide. It last exchanged in 2001, before the full rebuild, for $6.525m.

When interviewed prior to the winning offer, Coombs said the six-bedroom house had long been coveted by neighbours.

“This is one of those iconic homes that throughout my career people have asked about buying. I’ve always told them no, now it’s a yes,” he said.

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3 Kirkoswald Ave, Mosman

More of the view.

“During my more than 20 years in real estate, I get approached about this property all the time. Everyone knows the house, and there’s a reason for it; it’s just such an amazing home designed by Susan Rothwell,” Coombs said.

Built in the early 2000s, the Kirkoswald Ave property has been home to the Balnaves family for more than two decades and was listed for the first time.

The late Neil Balnaves AO, was patriarch of the philanthropic family who founded the Balnaves Foundation. He was a television executive responsible for running Southern Star and producing shows such as Big Brother, Bananas in Pyjamas, Water Rats and McLeod’s Daughters. He was also one-time chair of the Ardent Leisure Group, the entity formerly behind Dreamworld.

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Inside the home.

The entrance.

The Balnaves Foundation is a private philanthropic organisation established in 2006 by that focuses on education, medicine and the arts.

Will Dangar designed gardens surround the Balnaves home, which sits on 2,235sq m with sweeping harbour views out to The Heads and over Balmoral.

The residence spans three levels with a central atrium water feature, a formal dining room with 6.4m ceilings and a grand Italian marble table, plus a large kitchen with Miele appliances and a butler’s pantry, Travertine bathrooms featuring Zucchetti tapware, three Jetmaster fireplaces, bedroom ensuites with underfloor heating, a study, automated blinds, security cameras with back to base alarm, and new carpet.

Resort style features include a 20m saltwater wet-edge pool, a gym, steam room, wine cellar and au pair accommodation with external access.

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