Meadow Lea, the East Lindfield trophy home, returns for sale

Meadow Lea, the grand five-bedroom East Lindfield art deco estate, has been relisted again for sale by Victoria's Basement co-founder Daniel Kalanderian. 

This time last year it came with $10 million expectations, but with a slice of land subdivided off, it now has $7.5 million hopes on its 3,144 square metre block.

The Sydney Road residence last traded in 1996 when bought by Daniel Kalanderian for $1,415,000.

It's a trophy residence built in the early 1940s for the prominent margarine industrialist James Armstrong.

Its initial sale was in 1948 when bought for £17,000 by Azzalin Romano, who for decades ran one of Sydney's most stylish nightclub restaurants, Romanos.

The Romanos purchase was aided by the winnings of his racehorse Bernborough, which he sold to Hollywood mogul Louis B. Mayer in 1946 for a record £93,000.

The property resold in 1955 for £25,000 to the Wainbergs who ordered customised furniture, which were sold off in 1996 by Dalia Stanley.

Title Tattle has a mirror from the contents.

The home, with private central courtyard, now comes with lap pool, tennis court with lights and a pavilion.

Inside boasts a grand foyer, opulent formal dining room and a sprung-floor ballroom which is now the media room.

The modern kitchen and a thermostatically controlled two-zoned cellar that can hold 2,500 bottles.

Meadow Lea, which was listed with $7.5 million hopes in 2010, has 1,200 square metre internal space.

The house has sat on on a 4,300 square metre holding, but this time the development approved, adjoining 1,162 square metre block is not being offered.

It has been listed through Chana Scotcher of Chana Scotcher Reality in conjunction with Darren Curtis of Christies International.