The billionaire developer Bob Ell has abandoned plans to build a mansion on the Cremorne harbourfront.
His company, Leda Holdings, has listed the building blocks that come with permission for a nine-bedroom house with two pools on its 4,397-square-metre holding.
It is one of the largest waterfront properties on the north shore. Offers are due March 12.
"Approval is in place for the construction of a 2,739-square-metre home of extraordinary calibre presiding over its exclusive waterfront position," says the marketing.
The $12 million proposal, which also includes a rooftop tennis court with a retractable fence and parking for eight cars, has been listed by Richardson & Wrench Mosman agents Richard Simeon and Mark Manners.
"Masterfully conceived, the one-of-a kind residence features such remarkable amenities as a guest house, caretaker's house, two pools, N/S tennis court, gym, billiard room, home theatre and office whilst still enjoying over 1000sqm of level lawns and garden," the advertisement says.
"With Laurie's Sutton's recent sale at 10 Bay Street Mosman for $20 million we have expectations of early to mid-$20 millions," Simeon told Property Observer.
"Our strategy initially is to target the Chinese market both locally and internationally," he says.
It was in 2008 when Leda snapped up the lots fronting Willoughby Bay.
Leda bought two of the properties from the brothel owner Eddie Hayson, and a third from a neighbour, spending a total of $16 million.
The properties had houses built in the 1950s and '60s.