Buyer found for Bellevue Hill trophy home

Buyer found for Bellevue Hill trophy home
Buyer found for Bellevue Hill trophy home

Prominent downsizing company directors, Origin Energy's Dr Helen Nugent and TransGrid Michael Nugent have finally secured a buyer for their Bellevue Hill trophy home.

The Michael Suttor-designed residence set in manicured Italianate gardens with a copper-domed Roman cupola next to the pool and tennis court had $15 million plus hopes. 

Their Victoria Road property with Michael Love interiors had been listed by Alison Coopes’ Agency by Alison Coopes in April.

The couple bought the property when they moved to Sydney from Melbourne 25 years ago paying $4.25 million in 1990 to the property developer Garry Rothwell's Winten Group who had outlaid $2.7 million less than a year earlier.

The Nugent's 1885 South Yarra abode, Raveloe had sold for $2.5 million in 1990 to the shelf company precurser to Starch Australasia.

In 1994 Michael Nugent entirely wiped his $2.4 million Eddie McGuire mortgage after Goodman Fielder's $5.4 million redundancy payout, but another mortgage was taken in 2000.

After stepping down last year from Macquarie Group, Helen's board duties include Australian credit reference agency Veda and Funds SA. Michael's were lightened this month after stepping down from Murrumbidgee Irrigation, one of the largest private irrigation companies in Australia serving over 3,200 landholdings owned by over 2,500 customers within an area of 660,000 hectares. 

This article was first published in the Saturday Daily Telegraph.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Residential Market

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