Slight price reduction on Fairhaven
‘Fairhaven’ was built in 1905 for banker Hugh Massie. The architect was James Peddle. It was later purchased by Mr. Walket Thomas Way and his wife Hettie in 1915 for £3,700 (approximately $335,000 in today’s terms).
The house is listed on the Register of the National Estate and is described in the Australian Heritage Database as a ‘substantial turn of the century North Shore residence’ demonstrating characteristics of early federation style architecture influenced by the Arts and Crafts movement.
The neighboring home, Araluen House, was also designed by Peddle. It is now owned by the Loreto Convent.
The home is located on the suburb’s largest block (1400sqm) and is just a few hundred meters from the Prime Minister’s official Sydney Residence, Kirribilli House. The five-bedroom home has Kirribilli’s only registered private tennis court, a pool and an unattractive playground.
The house underwent extensive renovations by previous owners in 1992, and the current owners have given it a contemporary makeover. It was first listed in 2010 with $10 million-plus hopes. There was a failed auction attempt in September last year, with hopes of bids over $9.5 million. The sellers later lowered their expectations and dropped the price to $8.65 million. In October, the seller switched agents and it is currently listed as ‘Price on Application’.
The house was also advertised for rent at $5,000 a week.
The owners purchased the house in 2004 for $6.05 million. The current median house price in Kirribilli is approximately $2.8 million.
Listing information and images from Realestate.com.au