OverviewGrantham Buyers Agents were engaged to lead a full vendor advocacy strategy for Iona,the landmark Darlinghurst estate once owned by Baz Luhrmann
After 8 months of detailed preparation and repositioning, the property sold for $37.5M,setting a suburb record,just 12 days after hitting the market.
A rare outcome for a property of this scale, which would typically remain on the market for months.
The Brief
We were appointed with a clear mandate: deliver a successful result for a complex, heritage-listed property in the prestige market.
The previous campaign, marketed at $40M, had failed to secure any offers,indicating the need for a new approach. Our task was to reposition the property, manage buyer objections, and ensure a credible path to sale.
Key objectives included:
– Strategic re-packaging of the asset for high-net-worth buyers
– Coordination across agent selection, preparation, and due diligence
– Turning the property’s complexity into an advantage, a premium outcome
Our Approach
Over an 8-month period, we led the vendor advisory process, ensuring every angle was addressed before going to market.
Our work included:
– 50+ site visits to understand the property and potential use cases
– Coordinating schematic renders, spatial plans, and feasibility quotes
– Clarifying zoning and mixed-use potential for residential or commercial buyers
– Shortlisting and interviewing 7 leading agents before appointing Clint Ballard, Harriet France, and Maclay Longhurst of Sotheby’s
Through preparation, planning, and positioning, we brought clarity and confidence back to the campaign,setting the stage for a swift result.
The Property
– Built in 1888,a Victorian Italianate estate spanning over 2,700 sqm of land
– 1,035 sqm internal floor space with mixed-use zoning (residential/commercial)
– Key features included original heritage elements, a Japanese grotto garden, and grand formal rooms
– Zoned for flexible future use including wellness, creative, family office, or institutional purposes
– Formerly a private hospital from 1912 to 1977, then restored as a grand residence
The Outcome
– Sold for $37.5M,a suburb record for Darlinghurst, exchanged in 12 days of launch
– Campaign re-built from the ground up after prior failed attempts at $40M
– A premium result delivered through methodical planning and experienced execution
