Darlinghurst’s Dominion Penthouse Sells For $14,175,000, $2.5m Over Reserve

Darlinghurst’s Dominion penthouse has sold for a whopping $14,175,000, $2.5m over reserve and $4.3m more than the owners paid two years ago.

Richardson and Wrench’s Jason Boon and Geoff Cox had an $11m-$12m guide for the three-bedroom, three-bathroom apartment with four-car garage at 109/299 Forbes St.

Vendors gold trader David Baker, co-founder of Baker Steel Capital Managers, and Berry farmer Craig Hollway had bought it for $9.85m in 2020 from the little-known Jane Sedgwick, who’s paid $4,825,000 in 2011.

At last night’s auction at the agents’ office with Briannan Davis presiding, there were three registered bidders — two present and one bidding online, but only one of those present and the online bidder competed.

There was initially a vendor bid of $12m and then a $100,000 offer from the bidder who was present.

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109/299 Forbes St, Darlinghurst has sold for $14,175,000 at auction.

Balconies wrap the whole apartment capturing 360-degree views.

There were a range of $25,000, $50,000 and $100,000 bids during the auction and then a range of smaller increments at the end. It was the online bidder that won the night.

It’s not clear who the downsizer purchasers are, though they had buyer’s agent Deborah West from Sydneyslice representing them at the auction. It’s believed the underbidders were a couple of doctors.

The apartment looks little different from when Baker and Hollway bought it — the apartment was refurbished in 2017 by CC Interiors. Apparently there were a few cosmetic improvements such as polishing the floor, repainting and some new lighting.

But there’s little doubt the penthouse is something special — it’s huge, with 303 sqm of internal living space and 228 sqm of outdoor space.

Apart from the quality finishes and natural light, part of the appeal are the balconies that wrap the whole apartment capturing 360-degree views of the city skyline and harbour.

The open-plan living and dining area faces north.

There are numerous indoor and outdoor entertainment areas.

The open-plan living and dining area faces north, there’s a modern kitchen, a library zone with a fireplace and a cleverly designed bedroom with private office and second living area.

This latest Dominion penthouse sale is edging closer to the $16m that Francesca Packer-Barham paid for the Horizon penthouse further up Forbes St in October 2019, via Knight Frank’s Adam Ross and Oliver Stillman.