Villa in need of makeover sells for $15m

THE 1871 residence Jenner House has been sold for $15 million, a record price for Potts Point and the sixth most expensive sale in Sydney this year.

Built for the Hordern family, the eight-bedroom house, with grand staircase, ceiling roses, cornices and leadlight windows, is one of the few surviving marine villas.

The three-storey house was sold by the horse breeder Tony Peterson, who bought it for $2.275 million from the Department of Defence in 1998.

It is set on a 1896-square-metre block in Macleay Street with formal, circular 19th-century gardens, in the most densely populated suburb in Australia.

But Jenner has been under threat of redevelopment, with several applications in the past eight years. It was offered with approved plans to create two residences, but its selling agent Ben Collier, of McGrath, said the buyer had plans for the house to be restored as a single residence.

The house, listed by the National Trust in 1967, attracted 100 submissions against its most recent development application. The opponents included the art critic Leo Schofield and the former union leader and conservationist Jack Mundey.

Mr Peterson had tried unsuccessfully to sell the house for $12 million in 2003.

His architects described Jenner House as in a poor state of repair. It was built by the colonial architect Edmund Blacket with additions by Thomas Rowe in 1877.

The house, which mixes the Regency Revival style with the more flamboyant Italianate style, was originally known as Stramshall, after the merchant Anthony Hordern's birthplace in England.