No Mercy as Mercedes, Lavender Bay fetches around half ambitious asking price

Mercedes, the 1886 Rustic Gothic Revival residence at Lavender Bay, has been finally sold.

Its $6.95 million buyer last month was to the Graham family, who secured it at almost half its ambitious 2011 asking price of $13 million.

It had previously sold by the Sisters of Mercy, Goulburn, in July 2006 for $5 million, and then renovated by Trivest property developer Albert Bertini. He had obstetrician Keith Hartman and hospital industry entrepreneur Shane Moran briefly making up an investment syndicate threesome.

After North Sydney Council approved its $450,000 refurbishment into short-term convalescent accommodation, it was presumably Hartman's passion that briefly had it becoming a $1,300 a night luxury retreat for new mothers and their babies. 

The 1,180 square metres Walker Street property overlooking Lavender Bay had six bedrooms, operating as The Mothers Retreat. But it ceased operating in 2008.

The sale last month was by the company, Lavender Bay Investments of which Albert Bertini was its sole director and shareholder.

The sandstone mansion was built by Broken Hill engineer James Atchison, who sold it in 1893 to the Harcourt family, and then it was owned by the Cahill family, known as Cardigan.

From 1908 until 1944 it was owned by hotelier William Cahill and his wife, Bridget Durack, who sold it to the sisters who gave it its current name.