Kahlbetzer's Mandolong House in Mosman expands to 3,600 square metres
Mandolong House, one of Mosman's most coveted heritage estates, has just got a bit larger.
Its $18 million buyer Markus Kahlbetzer has spent $3 million on an adjoining 700 square metre property from the Corbett family. It was once the orchard block of the heritage home.
The main house acquisition set a suburb record price for a non-waterfront residential property in early 2012.
Although set high on the slopes of Balmoral, Mandolong House had limited views which will possibly be improved with redevelopment plans likely to be sought by the pastoral family.
The house previously sat on 2,900 square metres of grounds with a north-south tennis court and pool.
The 1885 residence was transformed four years ago by architect William Smart of Smart Design Studio.
The five-bedroom, six-bathroom mansion features a grand entrance hall, formal reception rooms, a state-of-the-art kitchen and entertainment areas that open to wide terraces. There's also a self-contained pavilion for guests.
Markus Kahlbetzer's former home - the penthouse in the 1970s Stuart Murray-designed Elizabeth Bay apartment block Deepdene - remains for sale.
Set on the Elizabeth Bay Road loop, Deepdene stands between the waterfront properties of Oceana and historic Tresco. The architecturally iconic apartment complex was constructed by the builders A.F Little as five separate apartments.
Markus's pastoralist father, John Kahlbetzer acquired the penthouse in 1980, then finished his consolidation in 2006 with the purchase of two units costing $6.6 million from Fay Parker of Parker's Wines. The penthouse outdoor entertainment area was remodelled by landscaper William Dangar with a structure designed by architect Richard Goodwin.
Mandolong House was sold by Barry Roberts-Thomson, deputy chairman of Hutchison Telecommunications, and his wife, Victoria, and had initial $20 million hopes. It previously lasted traded for $3,375,000 in 1989 from the Damon family, who had owned it for about 50 years. The house has had only four owners.
Mandolong House (left) tennis court (centre) and new house purchase (right)
Source: Google
Buying up the neighbours is nothing new in Mosman. Last December Property Observer wrote the high-flying recently retired Australian expat hedge fund trader Greg Coffey had consolidated a 4,400 square metre Balmoral compound at a $17.8 million cost.
Mosman's biggest inland holding for many decades was Tregoyd. The seven-bedroom 1890s mansion was where Sir Tristan and Lady Antico raised their seven children on the 1.1-hectare consolidation, which included five separate houses, two tennis courts and a private rainforest. Tregoyd was built for Sir William Cullen, who was Chief Justice from 1910 to 1925. It was subdivided off in the late 1990s.
Easterly, a Federation house in Mosman, that sold for $8.75 million in 2003, is considered one of Mosman's most significant non-waterfront residential properties. The six-bedroom sandstone house stands on 2000 square metres. The Upper Spit Road residence comes with tennis court.