As Halloween fever erupts, a Gothic castle at 14 Cherry Pl, Castle Cove has hit the market.

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A historic Sydney castle which inspired the name of a northside suburb looks set to change hands for only the third time in its 120 year history – and enter the sales record books.

Innisfallen Castle is a grand castle built in the late English Gothic style on 8333sqm of land in Castle Cove.

For the past 35 years it has been owned by Olympian Peter Montgomery, who represented Australia in water polo at four Olympic games from 1972 to 1984.

Montomery bought it for $5.25m in 1988 from the Willis family, who had owned it since 1904 when it was built, according to land title records.

The castellated six-bedroom property was listed for sale in 2020 but didn’t find a buyer.

This time agents Paul Biller and Ben Torban, of Biller Property Double Bay are marketing the heritage-listed home.

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The incredible property even comes with a tennis court.

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No wonder that the property has had only two owners since 1904.

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“There is no price guide,” explained Biller, “but we are inviting offers from qualified buyers.”

There has been a clutch of prestige high end sales of historic homes recently.

Elaine in Point Piper sold for $130m this month and Boomerang in Elizabeth Bay, which was also handled by Biller Property Double Bay, sold for $80m.

Then north of the harbour, Idlemere in Lavender Bay changed hands for $42.2m, a new record for northside Sydney.

The sandstone castle in Castle Cove is three storeys high with a solid stone turret at each corner and walls fully two feet, or 61cm, thick.

There is a tennis court with night lights, sprawling gardens, views of Middle Harbour and ample off-street parking.

The property last traded for $5.25m in 1988.

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It comes with approved plans to turn it into a 12-bedroom mansion with 20m swimming pool.

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The property comes with approved plans for more bedrooms, a 20m swimming pool, gym, cinema room, wine cellar, sauna, spa and storage turning the house into a 12-bedroom, seven-bathroom mansion.

Inside the existing house there are tall cedar doorways, a servant’s staircase and decorative stained glass and plasterwork depicting Australian wildflowers.

The grand entrance has stunning leadlight windows and there are ornate ceilings, timber floors and elegant marble fireplaces. Formal and casual living and dining rooms are served by a galley-style kitchen.

Innisfallen Castle circa 1904 was named after a ruined abbey in Ireland and commissioned by NSW parliamentarian the Hon. Henry Willis.

It sits on more than 21ha of land.

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It’s located not far from the water’s edge.

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In 1920 the great architect Walter Burley Griffin named the area Castlecove because of the landmark building and in 1987 the Geographical Names Board renamed the suburb Castle Cove.

Originally the estate was on 52 acres, more than 21ha, but land was sold off in the early years.

Since 1999 Innisfallen Castle has been on the NSW State Heritage Register.

The address of the Castle is 14 Cherry Pl, Castle Cove, 11 kilometres north of Sydney’s CBD.