After a record-breaking sellout on its $125-million Redan Lane development at Mosman, Prosker is breaking ground on the project nestled high above Balmoral Beach. Two of the seven luxury homes sold for north of $19 million, unprecedented in the blue ribbon enclave.

The project spans a 2220sq m site at 22 Redan Lane, Mosman, and replaces a single dwelling on the site. The Studio Johnston-designed project includes interiors by Mim Design and landscaping by Dangar Barin Smith, with panoramic views over Sydney Harbour.

Builder Trescon has been engaged on the job of getting the prestige project out of the ground.

The seven homes are a mixture of three and four-bedroom configurations with expansive views to the harbour. 

The median house price in Mosman is about $5.3 million and has recorded a 9.5 per cent price increase over the past 12 months. Prices for the Redan Lane project started at $13.5 million. 

Prosker chief executive Tim Foote has a background in architecture, design and selling prestige property. Foote established and sold Belle Property at Mosman and Neutral Bay, and sold more than $3 billion in residential real estate. 

This article was originally published here.