Cate Blanchett scores another buyer for her $20m mansion in Sydney’s Hunters HillCate Blanchett’s Sydney mansion back on the market as Chinese buyer defaults on saleInside Cate Blanchett’s Hunters Hill mansion
Actor Cate Blanchett and her husband Andrew Upton look like they’re set to finalise the sale of their Hunters Hill trophy home ‘Bulwarra’ given the historic estate has recently popped up for lease.
Given Blanchett’s obvious preference for privacy over income, and her willingness to leave the property vacant following her move to the United Kingdom last year, sources have suggested the rental opportunity comes care of the recent buyers of the $20 million property.
But it’s not available until May, according to the property’s listing advertisement.
The delayed availability is tipped to tie in with the upcoming settlement on the sale, which exchanged early this year for an unknown sale price through Ken Jacobs, of Christie’s International.
There was no price disclosure at the time of the deal, but the landmark property had carried $20 million price expectations at the time.
Blanchett and Upton have moved their family to the English countryside where ???the Sunday Times reported early last year they had paid ??3 million ($4.9 million) for a historic manor, Highwell House, in East Sussex.
The couple first listed their Hunters Hill home, Bulwarra, in 2015. It sold three weeks later for $19.8 million to a buyer who later defaulted on the sale given problems getting their funds out of China.
Property transactions at this level usually involve a 10 per cent deposit, which would have represented a $1.98 million loss for the Chinese buyer.
The property management on the rental is being handled by Melanie La Pouple, of SydneySlice buyer’s agency. The company’s director is Deborah West, who has long handled the real estate affairs of Cate Blanchett.
The 3624-square-metre estate is available for a 12-month lease, with a $40,000 bond. SydneySlice declined to reveal the rental rate, but industry sources have tipped a rate of $10,000 a week.