Former Bauer boss Nick Chan sells in Mosman downsize

Former Bauer Media boss Nick Chan and wife Peggy have bought back onto the Mosman property merry-go-round, paying $4.06 million for a modernised 1904 home (pictured) diagonally opposite their own recent offering.

Downsizing on the same street will see them pocket the difference of around $1 million after their $5.15 million sale. And potentially saving a truckload on moving costs.

Chan, who chairs the new bookmakers BetMakers, was the Bauer boss until June last year.

Their sold state-of-the-art home sat on 490 square metre with five bedrooms and three bathrooms.

Their new five bedroom, two bathroom home is on 455 square metre, but with harbour glimpses from upstairs.

There was a trade-off with car spaces dropping from three to two.

Mosman’s most impressive downsize this year was when businessman John Kinghorn and his wife Jill sold their longtime waterfront mansion for $12.5 million, having bought in the nearby Watermarque building.

It was the suburb’s first double-digit apartment sale.

This article first appeared in The Sunday Telegraph.