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It’s the $100m+ mystery over one of Australia’s most unique, most luxurious and most expensive homes – that superstar entertainer Elton John wanted to call his own.
It’s the $100m+ mystery over one of Australia’s most unique, most luxurious and most expensive homes.
Cash-strapped Pub baron Jon Adgemis is moving out of his stunning Sydney waterfront – known as “The Bang and Olufsen House” – after living there rent free.
But what will happen next to the iconic home – so named because music superstar Elton John thought it looked like a high-end stereo when he spotted it while out yachting on Sydney Harbour – is anyone’s guess.
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Adgemis was staying at the home owned by a Chinese investor in exchange for property maintenance but has decided to move house as he sorts out the future of his troubled Public Hospitality Group
That also leaves the future of the famous B & O home up in the air, with speculation the home right on the water in Sydney’s most exclusive and expensive postcode Point Piper – home of Atlassian co-founder Scott Farquhar, former Prime Minister Malcolm Turnbull and mortgage guru John Symond among others – could be put up for sale.
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The home’s floor to ceiling glass is a highlight.
Jon Adgemis, with Megan MacKenzie, has left the building. Picture: Supplied
When compared to recent sales, agents predict the home would be worth north of $100m.
It could even hit the $130m Farquhar paid in late 2022 for the heritage listed Uig house at the top of the Point as the richest Aussie home sale ever.
That price was matched when Farquhar sold his nearby mansion Elaine for earlier this month.
However it would be a stretch to think it would hit the $200m Symonds is said be asking for his long-term home of Wingadal.
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Elton John loved the home. Picture: Getty
It would likely be worth north of $100m
In 2013, when the home traded owners for $33m it was the third highest property price ever recorded in Sydney.
If Bang and Olufsen House isn’t put up for sale, it could be leased as a top end executive rental for c-suites or even visit celebrities fetching around $35,000 a week.
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Uig Lodge, at the top of Point Piper, sold for $130m
John Symond’s Wingadalcould fetch $200m.
Set on a super private lot, Bang and Olufson house sits at the end of Wolselely Crescent, a quiet cul-de-sac off Wolseley Rd.
It is highly recognisable by its iconic tinted floor-to-ceiling windows and flat roof.
The three-storey home was built over a three year period in the 1980s.
Elton John was so enamoured by the home he was interested in buying it. The singer/songwriter walked through the home and apparently even launched an $11m offer for the property before withdrawing it, after deciding he didn’t want to own real estate in Sydney.