Rose Bay waterfront mansion set to hit the market with $100m+ price expectations

News Corp Australia Network

An aerial view of 14 Tivoli Ave, Rose Bay, which is set to hit the market.

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A Rose Bay waterfront mansion is set to hit the market, neighbours and multiple other sources advise, with price expectations well above $100m.

Some say that the owners of the recently renovated six-bedroom plus study home — currently configured as two apartments — want as much as $130m, which would match Australia’s record-breaking purchase by Atlassian’s Scott Farquahar in Point Piper last year.

The 1,125 sqm property is at 14 Tivoli Ave, right next door to Villa Florida, the Michael Suttor-designed home bought by Coverforce insurance broker, Jim Angelis, for $45m via BlackDiamondz principal Monika Tu in 2021.

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The street facade of 14 Tivoli Ave, Rose Bay. Interior pictures not available.

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Villa Florida at 12 Tivoli Ave, Rose Bay sold for $45m in 2021 and is already partially demolished to make way for a new $18.6m mansion. The rear facade of 14 Tivoli Ave can be seen to the left of Villa Florida.

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Villa Florida has already been partially demolished and a new $18.6m mansion is set to rise on the 1300 sqm property.

Records show 14 Tivoli Ave to be in the name of residential and commercial property investor Orazio Camuglia.

Only one other property has sold for $100m. That was the one bought by Farquahar’s co-founder at Atlassian, Fairwater in Point Piper, in 2018.

The records don’t indicate when Camuglia purchased 14 Tivoli Ave, but it’s understood he initially bought half of it and the rest later.

He and wife Yolanda feature in a 2007 newspaper report about their legal fight, costing more than $200,000, over a neighbour’s proposed development threatening their harbour view.

Orazio and Yolanda Camuglia commissioned Coogee Castle when they owned the property between 1988 and 2003.

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Finder.com.au founder Fred Schebesta is the current owner of 14 Bunya Pde, South Coogee. He bought it for $16.85m in July, 2021. Picture: John Appleyard.

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The report said they’d bought their Rose Bay apartment for its view of the harbour. “Before we bought, Yolanda even went to [Woollahra] council to find out about people building in the area affecting the view, ” Orazio Camuglia says in the story.

They must have been successful, as their property has a stunning harbour view.

The Camuglias have spent many years renovating the property, with a gym on the waterfront and a jetty among the highlights.

Among their property investments has been Coogee Castle. They’d bought the original home at 14 Bunya Pde, South Coogee, for $621,000 in 1988.

They later commissioned Yolanda’s sister, architect Renato D’Ettore, for a striking rebuild and it sold for $8.2m to adman John Singleton in 2003.

He made a loss on it, selling it for $7.5m to the former Macquarie executive and Australian Turf Club chairman Laurie Macri and his wife, Christine.

Macri sold it for $16.85m to Finder co-founder Fred Schebesta in July, 2021.

D’Ettore also designed Italianate House in Surry Hills for Camuglia’s nephew, Mark Camuglia, which sold for a suburb record-breaking $11.5m in 2020 through Ben Collier of The Agency.

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