Patrick and Tamsin Johnson pay $28.4m in Watsons Bay

2 Cove St, Watsons Bay sold for $28.4m after just a week on the market. It last traded for $275k in 1976.

Bespoke tailor Patrick Johnson and his interior designer wife Tamsin Johnson have just snapped up their next renovation project for a jaw-dropping price.

It’s a harbourfront five-bedroom home at 2 Cove St, Watsons Bay, that last traded for $275k in 1976 when bought by Robin Lester, who lived there with her husband and children.

Robin, who is in her 80s is downsizing.

The house sold late on Saturday for $28.4m via PPD principal Alexander Phillips after just a week on the market.

Phillips refused to discuss the purchaser, with his comment “nice try” when asked.

But other sources revealed the Johnsons, known for their savvy property purchases over the years, were set to “do a job on it” and move in.

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Tailor Patrick Johnson. Photo: Jake Terrey

The Cove St home has incredible harbour views.

It’s right on the waterfront.

The agent describes it as “immaculate”.

Patrick Johnson, of bespoke tailor P.Johnson, and his talented wife Tamsin did well in 2020 when they bought the 1920s home Kendall Lodge in Darling Point for just over $10m.

It had been discounted from $12m and Tamsin could no doubt see its potential with eastern suburbs buyers.

Just three years later, having done a tasteful fitout, potential buyers were quietly being shown through with hopes of $25m.

Property records show the Eastbourne Rd home is still in their name, but it’s likely to be one of the big listings this spring.

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Expect 15 Eastbourne Rd, Darling Point to be one of the big listings this spring.

The Johnsons bought that for $10.05m in 2020 and did a major renovation.

There were hopes of $25m in 2023, but property records show it’s still in their name.

Not surprisingly given the potential, Phillips had two buyers fighting over Cove St after just a week on the market, with the first offering $25m.

The Johnsons hadn’t made the first offer, but they closed the deal at $28.4m.

The two-level home, described as a “once-in-a-generation” offering, had unobstructed views across the bay to the CBD.

Phillips described the property, which had five large bedrooms with four on one level and the main with an ensuite and dressing room, as “immaculate”.

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