Darling Point Art Deco unit blocks on The Hill may fetch $45m
Three Art Deco Darling Point apartment blocks with views of Sydney Harbour and the CBD skyline are tipped to fetch more than $45m.
Known collectively as The Hill, the three blocks have been long-held by the Conley family. John Conley, who died in 2006, was a Broken Hill-raised aviation pioneer and property investor and his daughter, Stephanie Conley-Buhre, is married to entrepreneur Oskar Buhre.
She paid $17.1m for a mansion in Bellevue Hill in 2018 and sold it last June for $30m.
The old apartment blocks are at 38b Mona Rd alongside 2 and 4 Loftus Rd.
Ray White Double Bay agents Ashley Bierman and Craig Pontey say the unit blocks, on a 2,385 sqm block, are a rare chance for investors and developers.
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Harbour views …
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“The Hill is an outstanding and rare opportunity to secure a development opportunity in one of the most tightly-held real estate locations in the world,” Bierman said.
The Hill currently offers 12 existing apartments which have been zoned for medium density apartments.
38b Mona Road offers Burford House with two spacious three bedroom apartments and one spacious two-bedroom apartment, complete with terraced gardens and scenic seascapes.
The second largest, 2 Loftus Rd, offers the recently renovated The Crows Nest with four three-bedroom apartments with house-like proportions.
The Hill consists of three Art Deco apartment blocks.
It’s a 2,385 sqm block.
Positioned a few minutes stroll to Rushcutters Bay Park, the iconic Cruising Yacht Club and Edgecliff Station, the properties provide easy access to both McKell Park and the Central Business District.
And close by the waterfront, 4 Loftus Rd offers St Martin’s with five recently renovated two-bedroom apartments.
The apartments offer a gross floor area of 1447 sqm.
“With distinctive facades, each property offers an unmistakeable charm, history and character,” Bierman said.
Expressions of interest for “The Hill” close on March 23.
Any price tag over $45m would eclipse the highest house sale of 2021 for the historic Woollahra mansion Rosemont, which set a suburb record in September.
