Latest NewsNew $16m price record for ManlySunday, 13 May 2018

 

Former chief executive of education and training provider Vocation Mark Hutchinson has scored a $16 million sale of his oceanfront reserve Manly home, smashing the suburb high in the process by $5 million.

 

Hutchinson and his wife, had only recently completed a renovation of the Fairy Bower residence before it was quietly offered to the market.

 

Set on oceanfront reserve and originally built by Marchese and Partners, it was bought for $7.25 million.

 

Fairy Bower, the most exclusive enclave of Manly, has seen values skyrocket in recent years despite being predominantly on leasehold titles owned by the Catholic Church. 

 

Sources say it was bought by specialist laparoscopic surgeon Craig Taylor, who is already a local on the Fairy Bower oceanfront.

Dr Taylor’s Bower Street home is expected to hit the market in coming weeks with a guide of $12 million to $13 million.

Settlement will confirm the Hutchinson’s widely billed $16 million sale result, which at that level is well above all previous highs. 

An $11 million sale for a waterfront block of dirt in 2009 previously set the high when bought by philanthropist and former freight tycoon Gregory Poche and Kay van Norton.

Fairy Bower, the most exclusive enclave of Manly, has seen values skyrocket in recent years despite being predominantly on leasehold titles owned by the Catholic Church. 

Seven chief Tim Worner paid $9.5 million for his waterfront reserve house in Bower Street in 2016 from Oroton’s Ross Lane.

 

Source: Domain

 

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