Sass brothers drop $61m for Mornington Peninsula compound
Following three deals in 20 months – the first, off-market – Oreana Property Group founders, Tony and Steven Sass, have re-amalgamated a trophy Sorrento clifftop property, it is believed, for a family compound.
The brothers are understood to have spent $61 million for the three properties covering 1.14 hectares between 3440-3444 Point Nepean Road.
The sellers were relatives of late property developer and investor, Stuart Carter, also known as Len, and his wife, Joyce, who subdivided #3442 and #3444 out of the side yard of the historic Hindson House (#3440), which they bought from the Church of England for $648,000 in 1983.
All properties overlook a quiet local beach with a shared private jetty.
Hindson House site re-amalgamated
The priciest Sass property was also the first – 3442 Point Nepean Road on 3695 square metres – or ‘the middle dwelling’ cost $24m in a deal negotiated last March, settling four months ago.
Buxton Sorrento’s James Redfern brokered that off-market sale.
Last October meanwhile, Hindson House was offered for public sale.
With a c1870 heritage listed mansion developed by former state premier and Supreme Court judge, George Briscoe Kerferd, it was marked sold in March (story continues below).
On 4021 sqm, it is understood to have fetched c$16m.
In February meanwhile, #3444 was offered via private treaty.
On 3693 sqm, it contains a contemporary three level mansion with five bedrooms – one occupying the top floor.
It is believed to be selling for $21m.
Mr Redfern with colleagues Martina Richardson and Clayton Smith marketed both these dwellings.
Headquartered in South Yarra, Oreana is a prominent low density housing estate developer with sites in several Melbourne growth corridors.
Today we are reporting the group teamed with Wolfdene to develop a c$300m residential community in Perth’s north east.
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