Oroton heir Tom Lane flips ‘paint and paper’ renovation in Bowral for $14.5 million

Meanwhile, Emma and Tom, the latter of whom is grandson to Oroton’s founder Boyd Lane, have recently completed their luxury Byron Bay estate Copperstone, offering luxury accommodation as part of The Range Estates, and are hatching plans for another property flip in Byron’s Newrybar hinterland that they bought last year for $8.3 million next door to Liam Hemsworth.

Aunty Beeb’s man in town

The bull run of high-end sales on the western foreshores of Pittwater has clearly come to an end, thanks in part to the burden of land tax valuations on the holiday home market.

Not that there’s any need to pass around the hat for the likes of the recent seller, BBC’s Sydney-based correspondent Michael Peschardt and his wife, Sarah.

Auntie Beeb’s leading interviewer has pocketed $4.9 million for his Great Mackerel Beach home, three times the $1.56 million paid for the beachfront house in 2018.

Of course, it has undergone extensive renovations and extensions in the six years they have owned it, which explains the $6 million guideline it was listed with a year ago.

Not helping the likes of BJ Edwards, of LJ Hooker Palm Beach, who had negotiated the four top sales fronting the beach in the market peak of 2022 for $5.5 million to $6.5 million, is the dramatic beach erosion on show to everyone as they step off the ferry.

Peschardt’s buyer is none other than veteran property developer and hotelier Bill Anderson, who is currently based at Gilling House in Palm Beach and expected to keep the Great Mackerel Beach house as a weekender.

Pearl Beach lustre

On the Central Coast, the family of Gresham Private Equity and Ironbridge Capital founder Julian Knights and his wife Lizanne Knights have emerged as the $6.6 million buyers of the weekender of UK private equity investor Thomas Fussell.

Fussell, who co-founded Fast Search, and his wife Louise purchased the cottage in 2021 for $7.7 million, but a year ago upgraded to a $12.25 million house on the beachfront.

Coast Realty’s Stuart Gan sold the cottage to the Fussells and was tasked with reselling it earlier this year. It settled in the name of Haydon Knights, 32, and Alexandra Knights, 31.

High-end downsizing

Former Macquarie Bank senior executive David Adams and his wife Liz have settled into their new “downsizer” residence, a $14.25 million contemporary residence set above Rosherville Reserve.

The five-bedroom house with a pool is across the road from their long-held home, the Kilcreggan Federation mansion with a tennis court and swimming pool spanning two blocks that was listed early this year for $16 million – not that much more than they’ve paid to move to the high side of the street.

Still in Mosman, the Clifton Gardens home of forex broker Yu Li Song, who heads up TMGM Group, and Hua Meng is up for sale with an $18 million guide through Atlas’s Michael Coombs.

The couple purchased the Burrawong Avenue house for $14.5 million, but they look to be headed to Rose Bay, where in March, it was revealed they paid about $35 million for the waterfront home of lawyer Chris Watson and Diane Barr-Watson.