Young has paid $19 million for a penthouse within the boutique complex developed by Tim Foote, a former real estate agent who founded developer Prosker Property.
Updated settlement records show Young has added the four-bedroom, mid-level apartment to her property portfolio, which is headlined by her sandstone mansion Onkaparinga in Balmain East.
There, on a quiet street in the Inner West, she lived with Malcolm, her husband of 38 years, before he was admitted to an Elizabeth Bay care facility before succumbing to Alzheimer’s in 2017. The couple have two children.
In 1973, Malcolm and younger brother Angus co-founded AC/DC around the time they lived in Sydney’s Burwood, their Australian childhood home after emigrating from Glasgow as children.
AC/DC would become the country’s highest-selling band, with more than 200 million records sold.
If Young opts to sell her Balmain East estate after the Mosman acquisition, it will undoubtedly be one of the Inner West’s most significant listings, given its near 1200-square-metre block size.
The Young family bought it for $870,000 in a company name in 1982.
However, local agents said they had no knowledge of any plans to sell.
Young bought the Mosman apartment off the plan in 2023, with recently updated settlement documents confirming her purchase and that Mosman residents Ellen and Matt Kennedy.
Records show the Kennedys were behind the $19.5 million purchase of a ground-floor garden apartment, the suburb’s most expensive apartment sale.
The Kennedys purchased the record-setting apartment off the plan in 2023, before the sale of their six-bedroom, three-storey mansion on The Grove in March this year for about $22.5 million.
Six of the seven luxury apartments have sold off the plan, with one final unit held back for post-completion sale.
That three-bedroom harbour-view apartment is now being offered for sale with Raine & Horne’s Adrian Bridges, guiding $15 million to $16.5 million before its private auction on September 10.
Features include granite finishes, European oak floorboards and an outdoor terrace with automated awning, barbecue and bar fridge.
The chef’s kitchen features designer appliances, while the master wing has an oversized walk-in robe and luxury ensuite with heated floors and bronze fittings.
Interiors are by Mim Design and gardens by architects Dangar Barin Smith, and residents can access a communal golf room equipped with a full golf simulator.
Sydney Slice buyer’s agent Deb West said the project set the standard for boutique developments in the area.
“The two sales at $19 million and $19.5 million are significantly above any other apartment sales in Mosman, and is testament to their quality,” West said.
“The quality of the finishes and the floor plans are as good as I’ve seen, location is fantastic because you’re so close to the village, get the views of the slopes, and you can walk to the beach.”
West said the Studio Johnson-designed project should be a benchmark for height and bulk on the Balmoral Slopes.
The prestige buyer’s agent said that unlike many proposed projects under revised low- and mid-rise laws, Redan Lane did not loom over the Balmoral Slopes.
“It is what developments on Balmoral slopes should be, as opposed to the large LMR developments,” West said.
West said the scale and location of the Redan Lane project would underpin demand for the final apartment, despite Sydney’s cooling prices.
“That development is ahead of the oversupply we might get with LMR, and the unique boutique nature of it and quality of build means it will outperform the current market,” she said.
The $125 million Redan Lane sits on a 2220-square-metre site, and replaced a single home.
Second to the prices achieved within the Redan Lane project is the $15 million paid by media duo Lisa Wilkinson and Peter FitzSimons for the penthouse atop historic sandstone block The Castle on Raglan Street late last year.
How long Redan Lane holds Mosman’s apartment record will depend on the sales success of another nearby project, Amara.
Developed by Danny Avidan’s Dare Property Group, that block will be crowned by a 570-square-metre penthouse on offer off the plan with a $30 million guide.
Designed in collaboration with Fiona Lynch Interior Design, the interiors feature travertine and oak flooring, polished plaster walls, bronze hardware and panoramic harbour views.
Designed by DKO Architecture, the Military Road-fronting project is scheduled to begin construction this year for completion next year.
Although the Redan Lane apartment holds the Mosman apartment record, the highest apartment price paid on Sydney’s lower north shore belongs in nearby Kurraba Point.
There, at developer Thirdi’s Kurraba Residences, investment manager Andrew Maple-Brown and his corporate lawyer wife Emma paid $28.2 million for the penthouse.
Article originally written by Bonnie Campbell and published on AFR.com
Last updated: 20 October 2023
Prosker Pty Ltd and its related companies (collectively referred to as "Prosker Group", "us" or "we") respect the privacy and security of your Personal Information, as defined below, and comply with the requirements of the Australian Privacy Principles ("APP") under the Privacy Act 1988 (Cth) ("the Act").
This Privacy Policy explains in general terms how Prosker Group handles your Personal Information. However, it does not apply to Prosker Group employee records to the extent they are handled by any of our companies that is or was the employer of that employee in relation to the employee's current or former employment. Such employee records are generally exempt from the Act and will be dealt with as permitted by law.
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Under the Act Personal Information is defined as information or an opinion about an identified individual, or an individual that is reasonably identifiable, in whatever form and regardless of whether it is true or not ("Personal Information"). The Act also defines a subset of Personal Information as sensitive information (for example health records, racial or ethnic origin, religious beliefs, criminal records).
The types of Personal Information we collect and hold will depend on the circumstances of collection and on the type of service we are providing.
We may also collect and hold certain sensitive information that is reasonably necessary for the provision of our services. If you provide us with any sensitive information, you consent to us collecting that information and handling it in accordance with this Privacy Policy.
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We may also use cookies to help us facilitate any promotions or surveys that we provide. We may also use cookies to enable us to collect data that may include Personal Information. For example, where a cookie is linked to your account, it may be considered Personal Information under the Act.
We will handle any Personal Information collected by cookies in the same way that we handle all other Personal Information as described in this Privacy Policy.
Third parties whose products or services are accessible on our websites may also use cookies, and we advise you to check their privacy policies for information about their cookies and other privacy practices.
We may disclose your Personal Information to third parties as may be necessary for any of the purposes stated in the above section. Such third parties generally include our third party providers, contractors, consultants, agents and/or representatives (such as law firms, banks, financial institutions, insurers, IT providers, mortgage referral services providers and/or wealth management services providers) who provide services to us or on our behalf, including to:
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Prosker Group may update this Privacy Policy from time to time so please review it periodically for changes.
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If you have a query relating to this Privacy Policy or wish to make a complaint, please contact us using the following contact details:
The Office Manager
Prosker Group
2 Markham Close
Mosman NSW 2088
Email address: info@prosker.com.au
Phone: 0416 090 191
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