Iona, Darlinghurst sold by Baz Luhrmann for near $16 million asking price

Internationally acclaimed Australian filmmakers Baz Luhrmann and Catherine Martin have seemingly found a buyer for their Darlinghurst mansion, Iona finally.

It was listed for sale for $16 million last July.

Sydney Sotheby's International Realty took the property listing down from the realestate.com.au website late last week, though would not confirm any sale details.

Iona is set to shortly host the Silver Committee fundraiser for the Sydney Children's Hospital.

Originally built for pastoralist Edward Chisholm, it is understood the landmark property has been bought by a Sydney buyer.

It was marketed as "a once in a lifetime opportunity to possess a heritage masterpiece."

The couple, along with their two children, spend much of their time in New York so will now look for a smaller Sydney home and office as Iona is also the headquarters of Luhrmann’s production company Bazmark.

"As we have been spending shorter periods of time in Australia and are more full time in New York, our priorities centre around a settled school life for our children," said the couple in a statement on its listing in mid-2015.

The Italianate late 1880s trophy home is listed on the State Heritage Register.

The nine-bedroom home sits on a 2700 square metre block in the centre of Darlinghurst.

Surrounded by established gardens, the 2700 sqm property also features a pool. 

Luhrmann and Martin had rented Iona for nine years before purchasing it in 2006 for $10 million from Ian Gowrie-Smith.

The home was lovingly restored by costume and production designer Martin and features her own wallpapers and carpet designs throughout.

This article was first published in the Sunday Telegraph.