Killara's Ballernoo sold for Sydney upper north shore record $12 million
Killara couple Ken and Josie Demlakian, owners of engineering firm Demlakian Consulting, have finally sold the 1906 trophy home Ballernoo, after around 500 days on the market.
Holding their nerve secured an upper north shore record price, though perhaps short of their desired $13.5 million at an estimated $12 million.
Ballernoo, a grand Federation estate comes with a championship-sized floodlit tennis court, golf driving range and heated pool and cabana, set over 4500 sqm.
There's 1000 sqm of living areas along with the nine bedroom and seven bathrooms.
The property features a domed music conservatory, billiards and games room, theatre room, gymnasium, home office, children's playroom and dance floor loggia.
Nestled deep in the hedged garden, inspired by the garden of Versailles, is one bedroom self-contained guesthouse, which is the estate’s former horseman’s cottage.
Ballernoo is expected to have set the joint upper north shore record which was firstly held by Australian Ilmenite Resources owner Jerry Ren, who paid $11.5 million for his Warrawee mansion in 2010.
This was matched in 2012 when technology investor Daniel Petre sold his Springdale Road property to Anita Cunliffe, wife of UBS heads of investment banking Guy Fowler.
Ken, who likes to chance his hand at the poker table from time to time, paid $3.4 million for the home in 1999.
The property was sold through Glenn Curran of Curran Property Chatswood who was seeking $13.5 million, with the international buyer introduced by the international buyers agent Robert Klaric.
The dress circle address, 26 Wattle Street, was once the home of Sydney Stock Exchange vice chairman Clarence Degenhardt in the 1930s.
Ballernoo is likely to have eclipsed the high of $11.5 million set in 2012 when technology investor Daniel Petre sold his Springdale Road property to Anita Cunliffe, wife of UBS head of investment banking Guy Fowler.
The record had stood with Bremon at Warrawee at $11.5 million since 2010.
This article was first published in the Saturday Daily Telegraph.