Point Piper sinkhole trophy home for sale

Point Piper sinkhole trophy home for sale
Point Piper sinkhole trophy home for sale

It might be a struggle to sell a Wentworth Avenue property now a sinkhole has emerged overnight at the front of the home.

Listed with $11.5 million hopes, the home at 11A Wentworth Street was listed as having two lap pools at the back of the property.

However due to the turbulent weather a third lap pool has appeared in front of the home.

This could result in the property's value to be reduced by half, according to Sotheby’s International agent Michael Pallier.

It was built by Greg Fisher, who ran the collapsed $400 million Satellite property development company and then sold in 2002 by Mr Pallier.

Dentist Neil Tanudisastro and wife Yani Sutaniman then bought the property before being sold to Hong Kong businessman Ke Gui for $10.2 million.

Currently it is offered through Black Diamondz Property Concierge.

The home first sold for $8 million in 2008 and last traded for $10.2 million in 2014.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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