The co-founder of the Pandora jewellery franchise, Brook Adcock, has re-listed his mansion on Sydney's Northern Beaches, this time with a reduced price tag. Located in Newport, approximately 34 kilometres from the central business district, the expansive waterfront property has struggled to find a buyer since it first hit the market in November at a staggering $27 million.
Price Reduction and New Agents
The six-bedroom, six-bathroom multi-storey home is now available for $24 million. Adcock has re-listed the property with new agents, who reported to The Mosman Daily that the stunning estate has already attracted interest from potential buyers overseas. Originally purchased by Adcock for $14.6 million in 2009, the home sits in one of the most sought-after locations in the Sydney region.
Property Features
Spanning 1,397 square metres, the home was built in the mid-1990s and boasts a wealth of luxurious amenities. These include a billiard room, a gym, and a climate-controlled wine cellar. Highlights of the property include an elevated lawn space overlooking the Pittwater estuary, expansive manicured gardens, and an infinity pool. There is also a guest house, a koi pond, and a large outdoor entertainment area.
Design features throughout the home include archways, columns, and soaring ceilings. The main bedroom occupies an entire wing of the upper level and features a private balcony as well as an enormous and luxurious ensuite. The lower level hosts a rumpus room and open-plan living spaces, while the huge kitchen includes a breakfast bar. The property also offers panoramic views of Pittwater and a boat jetty with two berths.
Background on the Adcocks
This listing comes after Brook Adcock and his ex-wife, Karen Adcock, sold their Pandora interests back to the Danish company. Karen Adcock first introduced the Danish jewellery brand to Australia in 2004, selling earrings, bracelets, and necklaces from her garage in Avalon. Eight years later, she sold her stake in the company, which had grown into a $200 million empire in Australia and New Zealand with more than 300 employees.
Brook and Karen divorced in 2008. In 2020, Karen sold her own Newport mansion for $9 million, after originally listing the three-storey property for $10 million. That waterfront home, complete with a pool, three-car garage, private beach, and jetty, sold quickly after being re-listed with Ray White Prestige Palm Beach. The last time the 3,000-square-metre property changed hands was in 2009, when Quiksilver Europe founder Harry Hodge sold it for $8.1 million.
