property Archives - Double Bay Today

Darling Point Deceased Estate of Billionaire’s Mother Listed With $10M Price Guide

Photo Credit: myPolice Queensland Police News

A Darling Point deceased estate with sweeping harbour views and a $10 million price guide is heading to auction — and it comes with a notable back story.

The whole-floor apartment at 3/8A Carthona Avenue belonged to the late Judith Mactaggart, mother of low-profile Brisbane investor John Mactaggart, whose family shareholding in ASX-listed enterprise software company TechnologyOne has placed him squarely in billionaire territory. The property is set to go under the hammer on 1 September, handled by Ric Serrao and Richard Faludi of Raine and Horne Double Bay.

Judith and her late husband Dugald purchased the apartment in 2000 for $3.4 million. At today’s guide of $10 million, the growth in value over a quarter-century speaks to just how far inner-harbour Sydney property has come — and how tightly held addresses like Carthona Avenue remain.

The apartment itself is an impressive proposition. Occupying the entire third floor of a boutique four-apartment block, it spans more than 420 square metres on title and offers north-easterly views stretching across the harbour towards Manly and The Heads. A full-width terrace makes the most of that outlook, while inside, the generous floor plan includes three bedrooms, two bathrooms, a large open-plan living and dining area, a granite kitchen with Ilve gas appliances, and a master bedroom with a spa ensuite and private balcony. There is also a dedicated gym, home office, high ceilings, ducted air conditioning, designer bathrooms, and a grand entry foyer with polished parquetry timber floors. Garaging for three cars is included — a rarity in this part of the world.

Carthona Avenue is widely regarded as one of Darling Point’s most exclusive addresses, and the building itself — one of only four whole-floor apartments, designed by Giles Tribe Architects and built in 1996 — has long attracted buyers seeking privacy, space, and harbour proximity in equal measure.

As for John Mactaggart, 66, he has maintained a deliberately low profile despite his considerable wealth. He has been a director of TechnologyOne since 1987 and was a founding shareholder, with his family’s early investment considered integral to the company reaching the scale it has today. The Mactaggarts — John and his late father Dugald — backed TechnologyOne co-founder Adrian Di Marco in 1987 when the business was still in its earliest stages. According to reporting by The Australian in June 2025, the family’s stake had grown to be worth around $930 million at that point, though sharemarket movements since then have seen that figure fluctuate. Mactaggart himself has said he has little interest in wealth rankings, and has been candid about his reluctance to sell down his shareholding given the capital gains tax implications of doing so.

Whether the Carthona Avenue apartment attracts a buyer equally comfortable with the long game remains to be seen — but with a price guide of $10 million and a 1 September auction date, the harbour-view penthouse-style home is unlikely to linger.

Published 6-August-2026

Sculptor Couple Snap Up Darling Point Harbourfront Estate for $12.2M

Photo Credit: Sotheby's International Realty

Renowned Australian artists Gillie and Marc Schattner have added another address to their growing collection of Sydney trophy homes, this time picking up a harbourfront deceased estate in Darling Point for $12.2 million.

The husband-and-wife duo, celebrated internationally for their bronze and fibreglass sculptures, are understood to have struck a deal on 84 Darling Point Rd shortly after the five-bedroom, four-bathroom home passed in at auction on Friday night with a final bid of $11.55 million.

Sitting on a 456sqm block at the prestige harbourfront end of the street, the property had been on the market for more than 100 days. It was originally floated off-market with an $18 million guide before being brought down to around $15 million during the formal campaign, before eventually changing hands for $12.2 million.

The home was marketed by Richardson and Wrench principal Michael Dunn alongside James Dunn of Sotheby’s. While the agents have not been able to confirm the sale price, the listing has since been updated to reflect a sold status, and the figure has been corroborated by multiple sources.

A long-held family home

The Darling Point residence had belonged to the late Richard and Janet Cowan, who had owned the property for more than 50 years. Publicly available land title records do not show the purchase price or settlement date from when the Cowans first bought in.

The three-level home is described in its real estate listing as taking in a north-facing aspect, with wide terraces and sweeping balconies designed to make the most of harbour views and natural light. It also features high ornate ceilings, marble fireplaces and ironlace balconies typical of the area’s heritage housing stock, along with a country-style kitchen that opens onto a landscaped garden and inground pool. The upper floors house two large bedroom suites and a converted attic space.

Renovation specialists with form

This isn’t the first time the Schattners have taken on a major reno project in Sydney’s eastern suburbs. The pair are well known for buying character homes, giving them a refresh, and decorating them with examples of their own artwork before moving on.

Most recently, they sold a five-bedroom home on a 456sqm block at 304 Jersey Rd, Woollahra, after a sales campaign that stretched across roughly eight months. That property had been listed with a $15 million guide last July and eventually sold for $13.8 million — still a healthy return on the $10.5 million they’d paid for it back in 2021.

Before Woollahra, the couple sold a Centennial Park property for $12 million in 2021, having bought it for $6.5 million four years earlier. They have also taken on similar projects in Bellevue Hill and Potts Point over the years.

Gillie and Marc have built an international reputation for their large-scale public sculptures, which have featured in cities around the world, and for their recurring artistic characters Rabbitwoman and Dogman.

Given their track record, it’s likely the Darling Point home’s traditional interiors — including that country-style kitchen — will eventually make way for a look that better suits the couple’s distinctive bronze and fibreglass pieces.

Local Creative Director Secures Historic $20m Waterfront Estate in Gladswood Gardens

Photo Credit: Goodyer Real Estate

A prominent creative director has become the new owner of one of Double Bay’s most coveted waterfront properties, purchasing the historic sandstone mansion at 21 Gladswood Gardens for $20 million.

Beau Neilson, aged 38, completed the purchase in July through agents Pauline Goodyer of Goodyer Real Estate and Michael Pallier of Sotheby’s, with the sale now officially settled. The transaction marks a significant addition to the local property market, representing one of the area’s most substantial residential sales this year.

The five-bedroom estate sits on an impressive 978-square-metre block and boasts a rich local history as the former coach house of the original Gladswood Estate. The property had been held by the MacMahon family for more than four decades, having originally purchased it for $782,000 in 1983.

Neilson, who is the daughter of billionaire philanthropist Judith Neilson and fund manager Kerry Neilson, brings impressive credentials to the Double Bay community. She currently owns The Vanguard, a popular live music venue in Newtown, and previously served as creative director for Phoenix Central Park, her mother’s free music venue, until last year.

The property purchase comes as Neilson prepares to sell her current Chippendale residence, a converted warehouse known as The Pigeon Shed. She had transformed the 324-square-metre industrial space into a five-bedroom, four-bathroom home with the help of MCK Architects, complete with an indoor pool, studio and gallery spaces. The Chippendale property is currently listed with a $19 million guide through BresicWhitney.

The Double Bay waterfront estate had previously been under contract for $21 million over a year ago, but that sale collapsed when the prospective buyer, reportedly an expatriate, was unable to sell their Hong Kong property to complete the transaction.

Buyer’s agent Tom Penfold from Cohen Handler, who secured the property for Neilson, indicated that his client was immediately drawn to the estate’s character and potential. The new owner is expected to undertake sympathetic renovations while preserving the property’s historic charm before moving in.

The sale adds to Double Bay’s reputation as one of Sydney’s most desirable waterfront locations, with the suburb continuing to attract high-profile residents seeking luxury harbour-side living combined with convenient access to the area’s renowned shopping and dining precincts.

The transaction demonstrates the ongoing strength of Sydney’s premium property market, particularly for rare waterfront holdings in established harbourside suburbs.

Published 11-August-2025

Double Bay Waterfront Mansion Sells for $2M Less After Initial Deal Collapses

Photo Credit: Goodyer Real Estate

A prestigious waterfront mansion in Double Bay has finally found a new owner after a dramatic 15-month journey that saw the initial sale collapse, leaving the vendors $2 million out of pocket.

The historic sandstone residence at 21 Gladswood Gardens, originally the coach house of the renowned Gladswood Estate, has sold for $20 million after an earlier agreement for $22 million fell through last year.

The five-bedroom property, sitting on a substantial 978-square-metre waterfront block, had been home to the MacMahon family for more than four decades after they purchased it in 1983 for $782,000 – a sum that seems almost quaint by today’s standards.

The property’s winding path to sale reflects some of the challenges facing Sydney’s premium property market. The initial buyer, an expatriate, was unable to complete the purchase due to complications with selling their Hong Kong property, leaving the vendors back at square one despite having agreed terms over a year ago.

Cohen Handler buyer’s agent Tom Penfold stepped in to secure the property for his eastern suburbs client, capitalising on the reduced asking price. According to Penfold, his client was immediately taken with the property’s character and potential.

The new owner, described as appreciating both the building’s heritage charm and untapped possibilities, plans to undertake sympathetic renovations whilst preserving the property’s historic sandstone character. Sources close to the sale indicate she intends to move into the residence following careful restoration work.

This Double Bay transaction mirrors a similar situation in neighbouring Vaucluse, where another high-end property has experienced comparable setbacks. The residence at 31 Vaucluse Road, previously owned by investor William Wu, also saw an initial sale agreement collapse before eventually selling for approximately $3 million less than originally agreed.

Wu and his property developer mother Jing Wang assembled an impressive $100 million portfolio across the eastern suburbs in 2021, including the Vaucluse property which they acquired for $13.32 million. The six-bedroom mansion, featuring seven bathrooms and an eight-car garage on an 879-square-metre block with harbour views, initially carried a $23.8 million guide in 2023.

After exchanging at around $24 million, that deal also fell through, with the property eventually selling through Bradfield BadgerFox agents Alexander George and Peter Leipnik for approximately $21 million to a local buyer.

These cases highlight some volatility in Sydney’s luxury property market, where high-value transactions can be particularly susceptible to buyer financing issues and international market conditions. Recent analysis suggests Sydney’s eastern suburbs property market is experiencing low volume but rising demand in 2025, with the biggest uplifts concentrated in North Sydney, the eastern suburbs and the inner west.

Domain forecasts that house and unit prices will rise by 4-6% in Sydney in 2025, up from the 3.2% increase posted in 2024 but down from approximately 10% in 2023, suggesting the market may be entering a more stable phase.

For the MacMahon family, whilst the final sale price was $2 million below their initial agreement, the transaction still represents a remarkable return on their 1983 investment, reflecting the enduring appeal of Double Bay’s premier waterfront locations.

The sale reinforces Double Bay’s position as one of Sydney’s most sought-after addresses, where historic properties with harbour frontage continue to attract buyers willing to pay premium prices, even in challenging market conditions.

Published 28-July-2025