Winten Property Group has purchased the long-held Woollahra home of art dealer Di Yeldham for $14.5 million, with plans to turn it into townhouses.
The 2353 square metre property has been DA approved for 12 townhouses.
The DA plans were almost stymied by Woollahra Council on the grounds of excessive scale, height and excavation, but 12 strata-title offerings were eventually approved by the Land and Environment Court in May last year.
The Wallaroy Crescent property last traded in 1976 when the Yeldhams bought it for $135,000.
In the eastern suburbs of Sydney, the modest Woollahra is famous for its quiet, tree-lined residential streets and village-style shopping centre.
Woollahra is an extremely affluent suburb, due in part to its proximity to the city and the shopping centre at Bondi Junction, plus a wide range of picturesque homes, mostly in various Victorian styles.
