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2 Cove St, Watsons Bay sold for $28.4m after just a week on the market. It last traded for $275k in 1976.


Bespoke tailor Patrick Johnson and his interior designer wife Tamsin Johnson have just snapped up their next renovation project for a jaw-dropping price.

It’s a harbourfront five-bedroom home at 2 Cove St, Watsons Bay, that last traded for $275k in 1976.

It sold late on Saturday for $28.4m via PPD principal Alexander Phillips after just a week on the market.

Phillips refused to discuss the purchaser, with his comment “nice try” when asked.

But other sources revealed the Johnsons, known for their savvy property purchases over the years, were set to “do a job on it” and move in.

MORE:

Nedd Brockmann reveals all at Ready25

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2 Cove St, Watsons Bay. NSW Real Estate.


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2 Cove St, Watsons Bay. NSW Real Estate.


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2 Cove St, Watsons Bay. NSW Real Estate.


Patrick Johnson, of bespoke tailor P.Johnson, and his talented wife Tamsin did well in 2020 when they bought the 1920s home Kendall Lodge in Darling Point for just over $10m.

It had been discounted from $12m and Tamsin could no doubt see its potential with savvy eastern suburbs buyers.

Just three years later, having done a tasteful fitout, potential buyers were quietly being show through with hopes of $25m.

Property records show the Eastbourne Rd home is still in their name, but it’s likely to be one of the big listings this spring.

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15 Eastbourne Rd, Darling Point. NSW Real Estate.


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15 Eastbourne Rd, Darling Point. NSW Real Estate.


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15 Eastbourne Rd, Darling Point. NSW Real Estate.


Not surprisingly given the potential, Phillips had two buyers fighting over Cove St after just a week on the market, with the first offering $25m.

The Johnsons hadn’t made the first offer, but they closed the deal at $28.4m.

The two-level home, described as a “once-in-a-generation” offering, had unobstructed views across the bay to the CBD.

Phillips described the property, which had five large bedrooms with four on one level and the main with an ensuite and dressing room, as “immaculate”.

It comes with a triple garage, plus triple off-street parking.

The home is 350m to Camp Cove Beach, 200m to Doyles and it’s a 20-minute commute to Circular Quay.

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