Not just a coal price collapse, price falls transition to Sydney trophy home offerings

Mining boss Peter Freyberg has sold his home in Darling Point for a big loss.

Freyberg, the Australian head of Glencore Xstrata, bought his four-bedroom residence ahead of the GFC on Australia Day eve in 2008 from property developer Eduard Litver for $7 million.

He secured $5.5 million last month, the title records show.

He is off to the $12,365,000 penthouse in the landmark Eliza building on Hyde Park which he bought with his wife Kylie Low.

They met at the Darling Point estate which comes with shared 10 car basement garaging. They didn't meet on the tennis court.

Her neighbouring home was bought in softer 2009 for $5.6 million. She sold for $7 million last month.

Michael Pallier, of Sotheby's International and Adam Ross, of Savills, had the listings.

Bob McMillan was the buyer of both interconnecting luxury homes on Mitchell Road, called The Palms and The Pavilion.

They were originally developed as part of the Babworth estate by Nati Stoliar's Kimberley Securities.

Printing industry boss Bob McMillan may now list his Hills district estate, Dunrath which was built by Francis de Groot in the late 1930s.