Shock prestige price decline at Rose Bay

The buyers of horse breeder Frank Tagg's Rose Bay home, Lynton, have emerged as Swiss Reinsurance managing director Mark Senkevics and his wife, Kimberley.

They paid $7.6 million for the grand 1912 Edwardian home following the sale of their Wallaroy Road home in Woollahra.

The price went backwards through McGrath Estate Agents from when Tagg and wife Sally bought Lynton for $8 million in 2007 from property developer Piers Dawson-Damer.

Ballard Property agent James Ball listed Senkevics' BKH-designed Woollahra with $6 million hopes, but is likely to have secured $5.5 million plus from the Fay family purchase.

They had been there since 2004 when they paid Richard England, the chairman of agribusiness Ruralco, $1.895 million for the then home.

This article was first published in the Saturday Daily Telegraph.