Australia’s trophy home market has clocked up its most expensive listing for the year at more than $60 million for the Vaucluse mansion of prominent corporate lawyer John Landerer.
The hillside mega-mansion, Ganeden, stands on the site of what had been three houses and includes about 2400 square metres of internal living space, ranking it among Sydney’s most lavishly built residences.
The founder of Landerer and Company has called the Wentworth Road property his home since 1988 when he and his wife Michelle paid $5.2 million for the home of David and Agnes Ross.
Given plans to rebuild, two houses behind were purchased in the mid-1990s to form a 2400 square metre block on which architect Stephen Gergely was commissioned to build the residence with an internal floorplan that almost matches the land size.
The result is a vast seven-bedroom residence with everything from three kitchens, two internal lifts, home cinema, gymnasium, two swimming pools, 20-car garaging and a separate function centre with its own garaging, and level lawn to take in the property’s gun-barrel harbour views.
The late, acclaimed interior designer Frank Grill did the home’s interiors, and landscape designer Paul Bangay did the gardens.
Sources say a buyer from China offered about $62 million for the residence a few years ago, but it never exchanged.
It is listed with Michael Pallier, of Sotheby’s International, who will take only qualified buyers through private inspections.
The scale and expense that went into the Landerer home are reminiscent of the house next door, La Mer, that was built by Erica and James Packer before they separated and sold it in 2015 for $70 million to Chinese-Australian businessman Chau Chak Wing.
The Packers took three years to build their 3300 square metre property, having spent $30 million amalgamating three houses, and about $40 million partially demolishing and rebuilding to a design by Tzannes and Associates.
Landerer, the recently appointed chair of Asian investment firm iProsperity, has long been an advisor and associate of some of Sydney’s most notable corporate figures and overseen plenty of high-profile trophy sales.
A one-time Kerry Packer confidant and executor of the estate of Westfield co-founder John Saunders, one of his most recent property investments was the development of the Rydges Hotel at Sydney Airport with Phillip Wolanski and David Baffsky, and he was the lawyer for Chinese princeling Jiang Wei and his wife Jiang Mei in their purchase of Point Piper trophy home Craig-y-Mor in 2008 and subsequent bid to demolish it to make way for the Gergely & Pinter mansion that replaced it.