Hillside Mandalay, Point Piper sells as Sydney's highest non-harbourfront

The Point Piper trophy home, Mandalay has been quietly sold.

Title Tattle gleans an Australian Chinese buyer has paid around $40 million plus through Black Diamondz Concierge in conjunction with Bill Malouf of LJ Hooker Double Bay, who sold it 11 years ago.

The sale most likely matched the nearby mooted $41 million paid for the Villa del Mare trophy mansion earlier this month.

The Wolseley Road-Wentworth Place, Mandalay was sold by the former US tobacco executive, Bill Webb and his wife Marijke having traded in 2004 for $20 million. They have been mostly Melbourne based. 

It had previously traded when businessman Kerry Manolas and his wife, Patricia paid $440,000 for it back in 1978.

It was built in 1954 for General Motors dealer Bill Stack.

The non waterfront hilltop home with the massive 80 mere frontage to Wolseley Road was redesigned in 1994 by architect Michael Suttor, with interiors by Michael Love.

It was marketed as "Mandalay - Sophistication, Elegance and Grandeur."

"A spectacular family residence, Mandalay is positioned to capture breathtaking, views of Sydney's magnificent harbour, bridge and Opera House. 

"This sophisticated three-level, 900 square metre, European-style villa is set on nearly 1,891 square metres of manicured grounds and presents opulence at every turn."

 

The unconfirmed $40 million plus sale is the highest to date in 2015, however the non-waterfront record holder, Villa del Mare did resell privately earlier this month to Pyrmont resident, Lola Wang Li in an off-market transfer expected to be confirmed at a face saving $41 million.

Most of the prospected Mandalay buyers were significant investor visa (SIV) holders.