Revealed: A $70m "fixer upper" in one of Australia's richest suburbs

The mid-century mansion at 38 Vaucluse Rd might not have the same street presence as its glamorous neighbours, but the $70m “fixer upper” still has all the right ingredients to be an enviable eastern suburbs estate.

If the old adage is true – and it’s all about location – then this 1400sq m dual access parcel with postcard views of the Harbour City’s heavy-hitter icons actually has it all.

With the Harbour Bridge and Opera House at centre stage, the outlook propels the listing into its multi-million dollar category, but the owners are also a talking point.

The original five-bedroom residence has been the home of 98-year-old philanthropist Isaac Wakil and his late wife, Susan, for the past 65 years.

Although the perfectly positioned Vaucluse home with the hefty price tag is impressive enough, the one-time high society couple have a history of making headlines with their rundown, yet eye-watering, portfolio.

For decades, the duo held onto several abandoned, but enviably placed properties, including the iconic Griffiths Teas building in Surry Hills and the Terminus Hotel in Pyrmont.

After building their wealth in the garment industry and then property, the pair, who had no children, began selling off their real estate in 2014. The huge cache of properties earned more than $200m, which all went to charity.

They donated millions to The Art Gallery of NSW, Opera Australia, St Vincent’s Hospital and the Sydney Jewish Museum. In 2016, the couple handed a record $35 million to The University of Sydney through the Susan and Isaac Wakil Foundation.

With their Vaucluse residence expected to be a “knockdown”, it could be the most expensive “land” sale in Sydney.

Despite predictions it could be bulldozed, the listing through Ray White Double Bay’s Elliott Placks and Riki Tawhara, depicts “grand interiors waiting modern refurbishment” and describes the homes as offering “character of a bygone era”.

As is, the unique two-storey house has a ground floor dedicated to everyday living and entertaining with a full-width balcony capturing the show-stopping outlook, a formal dining room, library, office, and three bedrooms, including a main with the landmark view and an ensuite.

The same level also houses two full bathrooms, a powder room and a garage.

Downstairs, there is an original kitchen and vast rumpus room with a bar and French doors opening onto a grand terrace, a level lawn with established palm trees, and a huge swimming pool facing the sweeping harbour panorama.

The property, which also has access to Carrara Rd, has two more lock-up garages below and is close to Hermitage Foreshore track, harbour beaches, and Kambala School.

Listed with Elliott Placks and Riki Tawhara of Ray White Double Bay, inspections for 38 Vaucluse Rd, Vaucluse are by pre-arranged private appointment.

When an estate has been carefully curated by its wealthy owners for more than a decade, the next custodian knows they’re in for a treat of a retreat.

Food-packaging entrepreneur Ted Nathan and his wife, Jenny, purchased the original 25ha Ravensdale Farm in Yarramalong Valley for $1.35 million 12 years ago according to title records.

Since then, the pair have reportedly invested more than $5.5 million to acquire several neighbouring parcels in order to create a contemporary compound now measuring more than 49ha.

Today’s Ravensdale Farm and Retreat, about 24kms from Wyong, is now a dual-estate 12-bedroom, 11-bathroom luxury landholding.

The property is expected to sell for about $30 million via an expressions of interest campaign with Cullen & Royle agents Deborah Cullen and Richard Royle.

Alongside the modern three-storey five-bedroom farmhouse, there is a long list of “must have” resort-style amenities and productive farmland primed to produce a passive income.

Framed by a 4m wraparound veranda, the sophisticated main residence has several outdoor spaces for homeowners and their guests to soak up the bucolic backdrop, lush paddocks and established gardens.

Inside, the homestead features multiple living spaces for grand scale entertaining inside and out, a library, a home office, private cinema, games room and accommodation designed for large families or a steady stream of weekend guests.

Custom made for hosting year round, the expansive estate also includes a sports bar with a commercial-grade kitchen, a championship size tennis court which can be transformed into an alfresco cinema when the mood strikes.

Additional spaces designed for fun include a sunken fire pit, a hidden garden with a European-inspired pétanque court, a pickle ball court and a private paddock dedicated to major events and functions.

There is also a separate second residence, Ravensdale Retreat, devoted to guest stays or potential short-term accommodation.

The bonus residence is set up to provide a fully self-contained experience outside of the main home when needed. It has a choice of bedrooms, a spacious living area, an outdoor pavilion, pizza deck, and its own pool.

Beyond its weekender credentials, Ravensdale Farm lives up to its name. A working farm, the estate has cattle infrastructure, fertile pastures featuring Kikuyu and Rhodes grasses complemented by high end irrigation and water systems, as well as land management systems designed for efficiency and long-term resilience.

The land can comfortably support cattle and horses – currently home to approximately 40 cows and calves, plus horses – and has productive fruit orchards, vegetable gardens, a chicken coop and a restored century-old barn.

Surrounded by the rolling green hills of the Yarramalong Valley, Ravensdale Farm and Retreat is approximately a 25-minute drive from Wyong and around 90 minutes from Sydney with coastal hotspots like Terrigal and The Entrance are within easy reach.

Ravensdale Farm and Retreat is on the market with a price guide of $30m via an expressions of interest campaign with Cullen Royle.

Revealed: A $70m “fixer upper” in one of Australia’s richest suburbs

A once-grand Vaucluse estate with knockout harbour views and a legacy as remarkable as its outlook hits the market for $70 million.

Built up over more than a decade, Ravensdale Farm and Retreat blends luxury living, resort-style amenities and productive farmland across almost 50 hectares.