Elton John once spotted a house while cruising along Sydney Harbour and liked its unusual design so much that he reportedly tried to buy it, even though it was not on the market. The British singer eventually changed his mind and walked away. Decades later, the same waterfront mansion is being offered for $130 million.The Point Piper property, known as the ‘Bang & Olufsen House’, has returned to the headlines because of its enormous price guide. In the 1980s, John reportedly arranged an inspection and offered around $11 million for the home after noticing that its curved shape and tinted glass reminded him of the distinctive stereo systems made by Bang & Olufsen.According to Domain’s report published, John later withdrew his offer after deciding he did not want to own a home in Sydney. He never became the owner, but the story has remained part of the mansion’s history.Today, the house is being positioned as a potential record-breaker in Australia’s luxury property market.
Why Elton John wanted the Bang & Olufsen House
The three-level mansion sits on a 1,414-square-metre waterfront block at the end of Wolseley Crescent, a tightly held cul-de-sac in Point Piper, one of Sydney’s most exclusive suburbs.The five-bedroom, nine-bathroom home has sweeping views of Sydney Harbour and the Harbour Bridge. Its swimming pool sits right beside the water, while its unusual architecture gives it a distinctive look from the harbour.The property was built during the 1980s by developer Brian Johnson. Before construction began, Johnson bought the original home on the site for $3.82 million in 1986 and demolished it to make way for the mansion.A 2013 Domain report detailed the property’s history and its connection to John. The singer’s reported offer helped give the house its memorable nickname, linking a luxury Sydney residence with one of music’s biggest stars.
The mansion’s multimillion-dollar property history
Elton John’s reported $11 million offer never became a purchase, and the mansion went on to change hands several times. Former Seven Network commercial director Bruce McWilliam and his wife, Nicky, bought the property for $24 million in 2006. In 2013, it sold again for $33.5 million.The Australian Financial Review, in its report, identified the current owners as Arie Chenran Qiu, daughter of textiles billionaire Qiu Yafu, and her former husband, Jerry Liu.The mansion is now being offered through Ken Jacobs of Forbes Global Properties, with a full sales campaign expected to follow. Its $130 million price guide is a huge jump from the $33.5 million paid in 2013. However, that figure remains an asking guide, not a confirmed sale price.
Could the Sydney mansion become one of Australia’s most expensive homes?
The listing comes as Sydney’s high-end property market continues to attract attention. Another waterfront mansion on Wolseley Crescent, owned by retired developer Robert Magid, recently sold for just below its $75 million price guide to retail heir Steven Moss and his wife, Carol.If the Bang & Olufsen House sells for $130 million, it would match the reported prices achieved by Point Piper estates Elaine and UIG Lodge, placing it among Australia’s most expensive residential transactions.For Elton John, the mansion remains a house he reportedly admired but never bought. For its current owners, the challenge is finding a buyer willing to pay $130 million for a property whose appeal rests on its harbourfront location, unusual design and long association with the singer.Whether it reaches that figure remains to be seen. But the story of Elton John’s almost-purchase has given this Sydney mansion a place in celebrity real estate history long before its latest price tag.
