The five-bedroom, six-bathroom house with a swimming pool in Mosman’s “golden triangle” was a big renovation project for previous owner Geoff Morgan, co-founder of recruitment giant Morgan and Banks, and his wife, Roslyn. The Morgans sold it to Whitford in 2014 for $16 million.
Mosman’s high-end housing market has remained largely immune to the broader market downturn of recent months. That is due to the acute shortage of trophy homes for sale and a build-up of demand among high-net-worth shoppers.
Last week, former recruitment boss Katie Adamo and her husband, prominent dentist Daniel Adamo, sold their Mosman home in Clifton Gardens for more than $18.5 million, making a capital gain of more than $4 million in the 17 months they owned it.
Buyer’s agent Deborah West, of SydneySlice, says the ultra-prestige market of the lower north shore and eastern suburbs is suffering from the most acute shortage of stock she had witnessed.
“We’ve never had so many prestige buyers at the $20 million-plus range,” West says.
“You would have thought that having $30 million to spend would make it a lot easier to find a house, but it’s actually very challenging. We’ve had some buyers at that level looking for 12 months.”
Last month, Julina Lim, matriarch of the Oceania Property development family, sold her Vaucluse home for about $27 million, making a capital gain of $2 million each year she owned it. The house last traded in 2015 for $12.85 million.
That Vaucluse sale came just weeks after a house on nearby Carrara Road sold for about $26 million – more than double what it traded for in 2020.