Tech boss Stephen Knowles snaps up Vaucluse home of Westpac exec Michael Correa for circa $16m
A tech boss has snapped up the Vaucluse home of Westpac exec Michael Correa, on the market since April.
The four-bedroom home at 39 Palmerston St, described as having a “Mediterranean vibe” with its sparse designer look, wouldn’t be for everyone — and evidently a difficult sell as winter approached.
But the warmer days are here, the right buyer has been found and the price looks to be on the money — or at least the sort of money that was being talked about when it first went up for sale.
The Double Bay rumour mill suggests Stephen Knowles, the former chief growth officer of tech firm Dentsu, and his wife Kaye have paid circa $16m for the four-bedroom residence that was designed by one of Australia’s pre-eminent architects, Peter Muller.
PPD principal Alexander Phillips had only recently picked up the listing.
He’d had a guide of $17m-$18m. It had been previously listed with TRG founder Gavin Rubinstein who’d had a $16m guide.
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The online “sold” sticker went up yesterday.
Ironically, Rubinstein sold the Knowles family’s current home at 1 Fitzwilliam Rd, Vaucluse just last week for about $16.5m.
That was also a beautiful four-bedroom home with pool on a 1100 sqm block.
The Palmerston St sale was the talk of Double Bay agents yesterday, but neither Phillips nor Rubinstein were the ones to spill the beans regarding Knowles’s purchase.
The new Knowles ranch is on a much smaller 432sqm block.
However, it sure offers a dream lifestyle, boasting harbour views and being just footsteps from Gibsons Beach Reserve.
Built in 1940, the Palmerston St home has been transformed over the years, most recently by Interior Designers Handelsmann and Khaw.
But there’d no doubt been creative input by Correa’s wife, Heidi Carter, the brains and visionary behind label Paddo To Palmy.
Rubinstein had sold it to the pair for $7.8m in 2017.
The updated period home has multiple living and accommodation zones over three floors including a ground level guest retreat or home office.
Across the entry level the spacious footprint features a grand lounge room framed by French doors opening to a wraparound terrace.
Similarly, the adjoining dining space spills out on two sides to the terrace or a deep undercover deck with outdoor kitchen and barbecue.
Phillips had a big day yesterday. He also sold the Panagopoulos family’s five-bedroom home at 391 Bronte Rd, Bronte for more than $13m after just a week on the market.
He says the market is “still very choppy — some homes are selling well, others aren’t”.
He noted that the $5m to $8m price range was “quite weak”.
“It had been the $3.5m to $5m range a month ago, but [the weakness] seems to be heading upwards.”
Originally published as Tech boss Stephen Knowles snaps up Vaucluse home of Westpac exec Michael Correa for circa $16m
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