The award-winning Point Piper home of the former advertising boss Malcolm Spry and his wife Pamela has had a price revision since being listed last year and now looks better value than ever.
The Sotheby’s managing director, Michael Pallier, is taking the stunning Wyuna Road residence with harbour views from each of its three levels to auction on October 31 with a $13m price guide, down from $18m. The house is on a 743 sqm north-facing block.
“This is basically land value,” Pallier said.
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He had sold a house in original condition for the Fiani family on a much smaller 481 sqm block at No. 16 Wyuna Road three years ago for $12m. The new owners, from Melbourne, have now rebuilt it.
“This is a much better house on over 700 sqm in a better location,” Pallier said. “It is really good value at this price to get into Point Piper.”
Spry, now the CEO of Malpal Investment Group, was once a non-executive director of Bell Financial and also served as CEO at AGB Nielson research and CEO at advertising firm Mojo.
He also oversaw the running of the trendy Chez Oz restaurant at Kings Cross in the mid 1980s.
CoreLogic shows Spry bought the Wyuna Road block in 1986 for $1.1m.
He commissioned Durbach Block Architects (now Durbach Block Jaggers) to build the current residence, Spry House, which was completed in 2003. It won the prestigious Robin Boyd Award the following year.
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It featured in the book 100 More of the World’s Best Houses, the sequel to Robyn Beaver’s Top 100 Houses From Down Under.
The house has two street frontages: to Wyuna Road and level access into the home directly from Wentworth Place.
“This is a ‘wow factor’ home,” said Pallier. “North-facing, with uninterrupted views as well as a 23m lap pool.”
The curved floor plan shows a designer entrance way that leads to a formal entertainment area that maximises the harbour views to Shark Island and Manly beyond.
Large sliding glass panels flow seamlessly to an outdoor entertaining terrace that adjoins the lap pool. Also on this level is an informal living area and the kitchen which has both an internal gas and wood burning oven.
The top floor of the home has two bedrooms. The master suite captures views from Manly to Rose Bay while offering a large walk-in wardrobe and ensuite. The lower level includes two more bedrooms, each with harbour views, a study and a spacious bathroom featuring a steam room.
Additional features include double garaging with internal access and lush gardens.
It’s an easy walk to Point Piper Marina, Royal Motor Yacht Club, Lady Martin’s beach and public transport.