Food blogger Stephanie Conley-Buhre has sold her extensively renovated Bellevue Hill mansion for approximately $80 million, marking a staggering $50 million increase from its purchase price just three years ago.
The sale occurred in June 2024, with Ray White Double Bay’s Ashley Bierman confirming the off-market deal for the Spanish Mission-style residence, Alcooringa, on Victoria Road. According to a caveat placed on the property’s title, overseas-based expat Hannah Chapman has been revealed as the buyer.
Property Details
The 2000-square-metre home sits on a 1560-square-metre block and has undergone a lavish renovation since its purchase in 2021. The property now boasts an internal swimming pool, three kitchens, a gymnasium, a day spa (converted from a former chapel), and a rumpus room (formerly a ballroom).
Whilst exact renovation costs remain undisclosed, sources suggest more than $20 million was spent on the improvements. Bierman described the scale and finish as “extraordinary,” noting that every part of the house had been touched.
Previous Ownership and Sale History
Conley-Buhre and her venture capitalist husband, Oskar Buhre, bought the property in 2021 for $28.5 million from Dr Louis Klein and his wife Claire. The Kleins had purchased the home in 1993 for $2.9 million and struggled to sell it for six years before the 2021 sale.
Alcooringa was built around 1929 for graziers Mary and Hugh Taylor. It later served as the Tunisian consul until 1965 before passing through various owners. The recent renovation, inspired by a trip to Spain, has modernised the property while preserving its heritage features.
The renovated home recently appeared in Home Beautiful magazine, showcasing its transformation. The property is known for having some of the best views in Bellevue Hill, which the renovation has maximised.
Bierman commented on the transformation: “It was a diamond in the rough to start with and both Steph and Oskar put all their efforts into transforming what was a beautiful heritage home and getting the most out of it.”
Market Context
This sale sets a new record for Bellevue Hill, surpassing the previous high of $76 million set by the Federation mansion Leura a year ago. It also highlights the area’s rapid appreciation of trophy homes, with several other notable sales in recent years.
The buyer, Hannah Chapman, was reportedly introduced to the property by buyer’s agent Simon Cohen. Meanwhile, the couple is searching for their next project with a budget of $40-60 million, also with Cohen’s assistance.
This is not the first successful property flip for the couple. Their previous home, also on Victoria Road, was bought for $17.1 million in 2018 and sold three years later for $30 million after renovations and landscaping.
Ms Conley-Buhre, a fashion designer turned lifestyle blogger, is the daughter of the late aviation pioneer and philanthropist John Conley. Her success in flipping trophy homes has garnered attention in the high-end property market.
Published 26-Aug-2024
