The co-founder of a major apartment development firm is hoping to double his money on his Vaucluse mansion — and he’ll probably succeed!
Paul Sathio, who co-founded Crown Group with Iwan Sunito in 1994 and built Infinity in Green Square among others, bought the four-bedroom double-storey home at 45 Towns Rd for $8.6m in 2015.
Having given it a paint job and upgraded the championship grass tennis court, the guide is now $16m for a forthcoming auction via Steven Zoellner of Laing + Simmons Double Bay and Paul Biller and Ben Torban of Biller.
And they’ll probably get it.
It’s got everything that’s become desirable in the post-Covid world.
Huge grounds — 1,240sqm of land — multiple indoor and outdoor entertainment areas and apart from the tennis court, a beautiful pool and a panoramic view taking in the icean, harbour, city skyline and Harbour Bridge.
The marble kitchen is well-equipped with quality stainless steel appliances; the master suite, which has a balcony and incredible views, features a dressing room and luxurious ensuite; the front bedrooms also have balconies; there’d ducted air-conditioning; a private library/media room has bespoke cabinetry.
There are two double garages with internal access; an alarm and plenty of storage.
Its convenience to prestigious schools including Kincoppal, Kambala, Cranbrook, Scots and various good primary schools will also appeal to many families.
Sathio is now the CEO of construction for Crown Group, which has a development pipeline valued at $5 billion involving almost 8000 apartments.
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