Artist Ken Done sells two shops in Sydney's Mosman for $6.1 million
Australian artist Ken Done, AM, was riding high at his commercially most successful in late 1988 when the Bicentenary celebrations were in full swing and his iconic artwork was seen on everything from t-shirts to tea towels and bed linen.
Such success also enabled the former advertising executive to invest in some of Mosman’s local real estate, first buying his former home by Chinamans Beach for $900,000 and later that year paying $2.31 million under the hammer for two shop fronts on Military Road.
The two shops sold for a combined $6.1 million. Photo: Supplied
Almost 30 years later and Done has sold off the shopfronts with three apartments above for $6.1 million, through LJ Hooker’s Tim Abbott and Scott Stephens.
Those two shops in the heart of Mosman village are now better known for their fashion clients who lease them, Camilla and Marc boutique and Ecco Shoes, and which have three residential apartments above comprised of two one-bedders and a studio.
Marketing on the properties estimated a net income of $186,519 a year on the total of five income streams.
Done, who has lived in Mosman since 1954, still owns his Mosman property, although it has long been leased out after he and his wife Judy bought the double block closer to the beach for $10 million in 2005.
The sale comes as Done’s children Oscar and Camilla take the reins of the family’s residential and commercial property development company Cadmium Property and kick off their 24-apartment project in Surry Hills The Surrey.
