Sydney’s North Shore has just hit an unbelievable new home price record, smashing the old mark by $6.5m.
Sydney’s north shore most valuable home has just settled with the CEO of one of Australia’s largest family businesses, Andrew Cochineas, revealed as the buyer paying exactly $50m for the famed property.
That’s a new record for the north shore and a massive new benchmark for Mosman which previously had a record of $43.5m for a house on McLean Crescent.
Number 3 Kirkoswald Ave is a palatial six-bedroom, seven-bathroom residence on 2235 sqm of elevated land on the slopes of Balmoral with sweeping harbour views.
It came to market last October with $45m to $50m expectations through Michael Coombs of Atlas and Adrian Bridges, now director of Raine & Horne Mosman.
MORE: Australia’s ‘happiest places to live’ revealed
Bahamas-esque
MORE: Jackie O’s cunning $30m exit plan amid Kyle split
Mosman locals have been coveting the home for decades and there has been much speculation as to who the new owners might be.
Settlement records this week reveal that the house is in Lisette Cochineas’s name. Lisette is a former general manager of the Institute of Chartered Accountants in NSW and the Act.
Andrew Cochineas is CEO, and his two brothers are on the board of Pallion Group a precious metal services group that works with gold and metal enhancement. The family company were involved with the Queen Elizabeth II Bicentennial Coach and the Australian Commonwealth War Memorial.
For the past 19 years the couple have lived nearby in a Mediterranean style mansion in The Grove which came to market in February, again through Michael Coombs, with a guide of $19.5m – $21m. It will relaunch in September.
MORE: Budget U-turn to drag Aus into old housing trap
The home has smashed North Shore records.
‘An amazing home’.
The Palladian-style home was designed in the early 2000s
MORE: How David Jones signed its own death warrant
Meanwhile the tri-level Kirkoswald Ave property now holds the record for Mosman by $6.5m.
During its sales campaign Coombs said he was regularly asked about the property.
“Everyone knows the house, and there’s a reason for it; it’s just such an amazing home designed by Susan Rothwell,” he had said.
The acclaimed architect designed the Palladian-style home in the early 2000s for the Balnaves family and this is the first time it has sold.
The late Neil Balnaves AO, patriarch of the philanthropic family who founded the Balnaves Foundation, was a television executive responsible for running Southern Star and producing shows such as Big Brother, Bananas in Pyjamas, Water Rats and McLeod’s Daughters.
MORE: $30m of Bondi ‘legacy’ for sale
Phillip Cochineas; Andrew Cochineas; Lisette Cochineas and Paul Cochineas attend the ABC Bullion Flagship Opening at Martin Place on May 18, 2023 in Sydney, Australia. Picture: Getty
He was also one-time chair of the Ardent Leisure Group, the entity formerly behind Dreamworld.
The Balnaves Foundation is a private philanthropic organisation established in 2006 by that focuses on education, medicine and the arts. Diane Balnaves was the vendor.
Surrounded by Will Dangar designed gardens that have appeared in Belle Magazine, the stately home looks out to The Heads and over Balmoral.
Everything at your fingertips.
Resort-style living.
The view looks just as good in the middle of the day.
Behind a grand façade the property has multiple living and entertaining areas, including several balconies and garden terraces.
There is a central atrium water feature, a formal dining room with 6.4m ceilings and grand Italian marble table, a large kitchen with Miele appliances and a butler’s pantry, Travertine bathrooms featuring Zucchetti tapware, three Jetmaster fireplaces, bedroom ensuites with underfloor heating, a study, automated blinds, security cameras with back to base alarm, and new carpet.
L to R Marta Balnaves, Mosman Art Gallery Director John Cheeseman, Diane Balnaves, Mosman Mayor Carolyn Corrigan, Victoria Balnaves and Hamish Balnaves. Photo Jacquie Manning. Mosman Daily.
Resort style features include a 20m saltwater wet-edge pool, a gym, steam room, wine cellar and au pair accommodation with external access.
Kirkoswald Ave is a short walk to Balmoral and Chinamans beaches.
MORE: Australia’s $85bn savings crisis exposed
English (US) · 