Iconic neo-Gothic mansion, Bishopscourt, was sold on Wednesday for $18 million.
The property has been on the market since 2013, when it was first listed with hopes of receiving $25 million. Since then, the property has been inspected by 110 potential buyers, who have come from around the world. The property was sold by Ray White Double Bay director Craig Pontey.
The Anglican church has owned Bishopscourt since 1910, and the property requires renovation.
Bishopscourt lacks many of the facilities associated with multi-million-dollar properties, such as a pool or a tennis court, and the harbour views are modest. Its thick sandstone walls, small stained-glass windows, and low doorways hark back to a bygone era, and are not generally associated with the sunny, outdoors Sydney lifestyle. The property also carries heavy hertitage protections.
Nevertheless, Bishopscourt is a unique and iconic property. It sits on a 6,216sqm block in the heart of prestigious Darling Point, is close to bustling Double Bay, Woollahra, and Paddington, and is within walking distance of prestigious schools. The CBD is 10 minutes away. The home has 15 bedrooms, and has been the official residence of Anglican Archbishops.
The property's grounds are as impressive as the residence, they are vast, and feature a number of mature fig trees.
The buyer's identity remains confidential, but it is believed the new owner will renovate the home and intends to use it as a private residence. The renovations are expected to cost close to $10 million.