After weeks of $20 million-plus sales and new listing deals, two great estates changed hands in one day for a reported total of $130 million.
Leo Lynch, the florist king of wholesaler Lynch Group, bought the historic Queen Anne-style estate Leura in Bellevue Hill last week for a rumored $70 million, which is more than twice the price it fetched eight years ago.
Wilson Lee, head of Chinese wealth management service Noah Holdings, and his wife Baoyu Wu paid $30.8 million for the famous house in 2015 - then setting a price record in Bellevue Hill.
Built in the 1890s and designed by government architects Walter Liberty Vernon and Howard Joseland, Leura sits on an expansive 4,260-square-meter plot on Victoria Road.
The mansion has eight bedrooms, eight bathrooms, a ballroom, a tennis court and a swimming pool.
A DA was approved in 2017 for $7.5 million worth of "additions and alterations," records show.
Former owners Christine and Ken Allen of Business Promotional Products purchased Leura from real estate developer Bill Shipton for $7.3 million in 1986.
Last week's sale reportedly came within 24 hours of Lynch selling his home off Kambala Rd for $61.5 million. It was a solid return given that he bought the 1,338-square-foot property for $9.05 million in 2014.
He then hired architect Michael Suttor to design a new house, with interiors by Thomas Hamel.
Sources say that the $130 million deal was negotiated by Brad Pillinger of Pillinger & Co.
Bellevue Hill, one of Australia's most expensive suburbs with a median home price of $8 million, has remained stable over the past 12 months with 55 homes sold, according to PropTrack.
