Thread: Boomerang, Elizabeth Bay, NSW, Australia

Boomerang, the magestic Elizabeth Bay waterfront home, is up for sale for the ninth time. The Spanish art deco home, built in 1928, has broken real estate price records every time it has sold. It last sold for $20.7 million in 2002.

One of Australia's trophy homes, rambling Boomerang in Elizabeth Bay, is set to have its 10th owner.

The sale of the Spanish art deco home, built in 1928, will be announced this week as businessman owner John Schaeffer continues his fund-raising efforts in an attempt to appease his increasingly demanding creditors.

The sale of Boomerang is the latest stage in an ongoing saga in which Mr Schaeffer, founder of cleaning business Tempo Services, sold his beloved Bellevue Hill mansion Rona at the end of last year for about $20 million, along with most of his prized art collection.

Mr Schaeffer bought Boomerang in early 2002 for $20.7 million, a parting gift for his wife Julie, who has lived in the home since their separation.

The majestic home is one of the jewels of Australian real estate, sitting on 4111 square metres of prime, north-facing waterfront land in Billyard Avenue, in Sydney's eastern suburbs.

Described as a home of "baronial proportions" it has six bedrooms, a conservatory, deepwater jetty, two butlers' pantries, four-car garage and high-tech security system. A self-contained, two-bedroom guest cottage is a clever mini replica of the main house.

Decorative features of the home include enormous cast-iron gates, grand entry hall, an oak-panelled banquet room, a Moroccan courtyard garden and intricate bronze lace work.

Balconies and open fireplaces are dotted throughout the home.

A 30-seat home cinema has been used since the home was built. While it is now stocked with state-of-the-art equipment, original film reels and projector equipment still work and will be sold with the house.

The mansion has never been out of the headlines for long, thanks to its various high-profile, entrepreneurial owners.

Every time Boomerang has sold it has broken price records, Laing & Simmons Double Bay principal Bart Doff said. He is hesitant to release a price guide for the mansion although other estimates put its value at more than $20 million.

"At the time that it was built, circa 1928, it was the most expensive house ever built in Australia," Mr Doff said.

He said it did not have a "maze of rooms" like many other historic houses. "It has always been a trophy house," he said.

Rumours are already emerging about the high-profile identities who have supposedly inspected the property, which must be sold by March 9. House hunters who have traipsed through include a Russian family that part-owns an aluminium smelter in Australia.

I guess it's sad that I was hoping "NSW" in the title was a misspelled "NSFW" lol. Awesome looking house though!

Originally Posted by Chipster

I guess it's sad that I was hoping "NSW" in the title was a misspelled "NSFW" lol. Awesome looking house though!

Same here

^ Lol happens to me all the time!

Beautiful home right there, the interiors are absolutely not my cup of tea but i'd buy and redecorate that!

NSW = New South Wales?

Originally Posted by ADV.1 Matt

NSW = New South Wales?

Yep

Nice house and all... too old fashioned for me though. I'd rip it apart and modernize the entire place.

a fireplace in the staircase foyer, I mean why the hell not?!

Nice house, I would defiantly have to redo that theater tho! It looks way to uncomfortable to watch a movie. .

Originally Posted by Luigi2Times

a fireplace in the staircase foyer, I mean why the hell not?!

need to remember when it was built, '1928' no ducted heating etc and a big stone house would be very cold in winter, you need a large fire place in almost every room to keep the house warm.

As for "redoing" the interior of the house or certain rooms, there would be almost nothing you would legally be aloud to modify etc due to the heritage laws here in Aust. Basically house has to stay period correct and untouched other then repairs etc and even then must be returned to original state.

Its definately much like a museum inside and even tho very pretty its definately something that would be hard to live in.