Rich flippers: The who’s who defying the property downturn

Key points

  • Vittoria Coffee’s former part owner Clelia Cantarella has sold in Palm Beach for about $12.6 million.
  • Derivatives trader Toby Abbey has listed his Mosman home of two years for $13 million.
  • Ilse O’Reilly has sold in Paddington to obstetrician-gynaecologist Michael Van Der Griend.

Property listings

It seems even Reserve Bank Governor Philip Lowe’s 10 consecutive interest rate rises aren’t enough to stop some of Sydney’s well-heeled citizenry from making a motza flipping their home real estate.

Lending weight to the adage that “it takes money to make money”, gold bullion dealers Kurt and Nathalie Jaggard have sold their Manly harbourside apartment for what a local source said was the “double-digit millions” – more than double the $4.52 million they paid for it in 2020.

A Squillace Architects redesign was commissioned since it last traded in 2020.Credit:Domain

Clarke & Humel’s Cherie Humel and Michael Clarke were no comment on the deal, but records show it was sold after four days following a Squillace Architects renovation.

The Jaggards are now slumming it in a nearby harbourfront townhouse they purchased last year for $5.75 million.

Clelia Cantarella, former part-owner of the family’s Vittoria Coffee empire, has secured about $12.6 million for her Palm Beach getaway, which is not bad given she paid $7.5 million in 2019.

The Palm Beach retreat of Clelia Cantarella was held in the name of a beneficial trust.Credit:Domain

Ray White Prestige’s Noel Nicholson had listed it with a $12.8 million guide after Cantarella purchased a $13 million house in Mosman.

Former model-turned-environmental scientist Ilse O’Reilly, the former wife of Irish media scion Cameron O’Reilly, has sold her Paddington home two years after she purchased it for $5.25 million.

The Paddington property of Ilse Cameron was sold off market for $5.6 million.Credit:

The London-based O’Reilly looks to have held off on any renovation before she recouped her purchase price and stamp duty with a little change left over given the $5.6 million sale price to obstetrician-gynaecologist Michael Van Der Griend and his wife Solveigh.

BresicWhitney’s Maclay Longhurst negotiated the deal, having sold the nearby Van Der Griend home for $9.53 million.

Jackie O Henderson made a $2 million gain on her Woollahra home.

Top rating radio star Jackie “O” Henderson didn’t make any improvements to her Woollahra home in the three years since she purchased it for $11 million, but The Agency’s Ben Collier still managed to sell it for $13 million.

It was purchased by David and Dalia Schnabl, the latter of whom is the daughter of aged-care boss Peter Wohl, best known for buying murderer Ron Medich’s Point Piper home in 2014 for $37 million.

The KIIS FM presenter knows all about soaring prices, having placed the winning bid of $13.25 million last weekend for the Gordon’s Bay house of JP Morgan’s Kierin Deeming and lawyer Justine Hall, who did no more than commission a new DA since they bought it in 2019 for $6.01 million.

Derivatives trader Toby Abbey purchased his Mosman home in 2021 for $8.5 million, commissioned a redesign by Harper Lane Design, and has put it back up for sale with a $13 million guide through Atlas’s Anthony Godson and Belle’s David Benjafield.

Film producer Jamie Hilton is based in Perth, and selling his Woollahra base.Credit:

Abbey is moving to the nearby trophy home Stonehenge he bought in late 2021 for $21.5 million from Macquarie’s former chairman Peter Warne, and which has also recently received the Harper Lane Design treatment.

But not every high-end seller is expecting to be immune to the market downturn.

Film producer Jamie Hilton, founder of See Pictures, and his bibliophile wife Jessie Hilton have listed their Woollahra pied-à-terre after just 18 months with a $5 million guide.

This is the house-like apartment that was renovated by lawyer Charles Bannister and then sold through William Manning to the Perth-based Hiltons in 2021 for $5.7 million.

In Mosman, Potentia Capital boss Andrew Gray and his wife Emma bought the Federation house, Cambria, eight months ago for $17 million and have listed it for $15.5 million to $16.5 million through Atlas’s Michael Coombs.

The Grays have already ridden the property boom to lucrative effect thanks to last year’s $37 million sale of their Bellevue Hill home Rothesay to Adani CFO “Robbie” Jugeshinder Singh.

The Federation mansion, Cambria, on Balmoral slopes was sold by former Perpetual boss Geoff Lloyd last year to Andrew and Emma Gray.

Finally, the Southern Highlands retreat of Rosana and “MJ” Martono Jaya Kusuma, founder of Indonesian mobile telco Nexian, is back up for grabs less than a year after they bought it for $3.525 million.

Belle’s Debbie Pearce has a $3.3 million to $3.5 million guide on the three-bedroom property given the Kusuma family’s plans to buy something that offers more accommodation.

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