Oroton boss Ross Lane sells Manly's only privately owned absolute beachfront

Oroton boss Ross Lane has sold his Manly home which was listed with record breaking $16.5 million hopes.

It fetched $15 million plus.

Lane paid $9 million for the home in 2016 when buying from younger brother Tom, who is heir to the fashion empire.

The luxury Stuart Street beachfront is the only privately owned absolute beachfront property in Manly.

Set in 590 sqm of landscaped gardens on the shores of Little Manly Beach, the home has a lift to each of its four levels.

It has four bedrooms, plus a whole floor, one bedroom apartment, a home theatre, office and wine cellar.

The living room with sandstone fireplace opens to an alfresco dining terrace.

Jake Rowe at Jake Rowe Partners was marketing the home. 

Lane’s 592-square metre property was previously part-owned by the late Olympian Betty Cuthbert, before Tom and Emma Lane bought it in 2007 for $4.4 million.

Tom Lane rebuilt the four-level residence with internal lift before it was sold to his brother.

Lane undertook his own $1 million renovation with interiors by Briony Fitzgerald.

The buyer was a former northern beaches family currently living in the US who planned to live in the house when they returned to Australia in the next few years.

The sale result sets a record for freehold property in Manly.

It was topped only by the $16 million sale of an oceanfront home on a Catholic Church leasehold sold by Sophie Hutchinson, wife of former chief executive of education and training provider Vocation Mark Hutchinson, to the specialist laparoscopic surgeon Craig Taylor.