NSW real estate: The dilapidated Mosman mansion that comes with a $10 million price tag
A dilapidated mansion frequented by squatters is on the market with $10 million expectations.
The five-bedroom, three-bathroom property is in the Sydney suburb of Mosman, and is set in a waterfront position at Clifton Gardens, with uninterrupted views of the Harbour.
The mansion last sold at auction in 2016 for $6.6 million and is now on the market with development approval that will restore the property to its former glory.
Sign up to The Nightly's newsletters.
Get the first look at the digital newspaper, curated daily stories and breaking headlines delivered to your inbox.
By continuing you agree to our Terms and Privacy Policy.“It’s got such great history,” said agent Stefon Bertram of Pello Lower North Shore.
“The new DA answers a lot of questions. It gives locals and successful buyers clarity over what you can do with the home.”
Mr Bertram said the DA had been eight years in the making and would create an “incredible” home while remaining sympathetic to the property’s original beauty, long before it fell into disrepair.
While currently the mansion sits vacant, vandalised and covered in graffiti, “Morella” was originally designed by Eric Nicholls, protégé of Burley Griffin, and built-in 1939 for Leo and Helena Parer.
The couple often played host to Sydney’s high society in the mansion and the early-1940s, the home was featured in Australian Home Beautiful magazine.
The approved $8 million DA will see part of the existing fabric of the home retained and the addition of a swimming pool and landscaped grounds.
Mr Bertram said Mosman locals welcomed the redevelopment of the property.
“There’s some good energy around the property at the moment. It’s good for everyone. The locals are excited,” he said.
“Dominant interest is definitely from locals but it’s such a high-profile spot, it’s seeing a wide landscape of interest.”
Mr Bertram said the property has seen “great engagement around $10 million”. It goes to auction on Saturday, March 9.
The median sales price for houses in Mosman is $5.4 million, according to CoreLogic. Prices have grown by 15.6 per cent over the past 12 months.
This article first appeared as The dilapidated mansion that comes with a $10 million price tag on view.com.au
