news of the bay

The Point Piper trophy home of luxury car importer Neville “Croaky” Crichton has sold for more than $60 million, kick-starting a strong start to the year for the trophy home market.

The buyer’s identity remains shrouded in secrecy but it is tipped to be an overseas buyer given settlement remains contingent on approval from the Foreign Investment Review Board.

The result puts it in the top three residential house sales nationally, topped by the $70 million record set by the Vaucluse mansion La Mer that was sold by James and Erica Packer in 2015.

Crichton’s Tuscan-style residence, Portofino, made headlines in 2011 when it was rented by Microsoft co-founder Bill Gates and his wife Melanie at $25,000 a week.

The three-level residence has six bedrooms, a gym, private jetty and is set on 1500 square metres at the end of Wingadal Place cul-de-sac in a sheltered inlet with gun-barrel Harbour Bridge views.

Crichton bought the property in 1994 for $5.9 million from helicopter pilot Bruce Rose and his wife Pam and later built the existing mansion.

The Roses bought the property in 1962 from the Hordern family for 18,000 pounds.

When owned by the Rose family the property held the only private helipad in the eastern suburbs thanks to 7am-to-sunset helicopter landing rights.

Crichton and his girlfriend Nadi Hasandedic were regularly spotted on the look-out for a downsizer penthouse last year, and made an early offer of more than $20 million for the Finger Wharf penthouse of Russell Crowe.Read more