Laura and James Hannan, son of printing magnate Michael Hannan, have paid $12 million for a designer home in the blue chip Sydney suburb of Vaucluse.
The purchase follows the Hannan’s sale of their Bellevue Hill home to swimwear entrepreneur and Young Rich Lister Tash Oakley and husband Shore Financial CEO Theo Chambers. Ms Oakley and Mr Chambers have since listed their wide-fronted home in Paddington.
The Hannans purchased their Vaucluse home in June. However, recent settlement documents reveal the couple have now taken the keys to the five-bedroom home on Serpentine Parade.
It will be the third eastern suburbs move for the Hannan family in three years. In 2020, the young family sold their Double Bay townhouse on Epping Road for $4.375 million before upsizing to Bellevue Hill, where they paid $9.05 million to William Phillips and Christina Sachs Phillips.
In March, the Hannans then offloaded the 1940s Bellevue Hill estate for $17 million to Mr Chambers and Ms Oakley, trading the 1284-square metre block on Bunyula Road for the turnkey property on 800 square metres in neighbouring suburb Vaucluse.
The mid-century property has undergone an extensive revamp by LuMu Studio and is entered through a Carrara and Terrazzo marble foyer and features a gas-heated pool with self-contained pool house, wine and cheese room and a safe room.
The sale was handled by Alexander George, of Bradfield BadgerFox. Mr George declined to comment on the sale.
The Hannan family have long been linked to large-scale printing in Australia, having once owned Hannanprint with John B. Fairfax of the famed publishing dynasty. In 2007, the Hannans sold the family-run IPMG’s newspapers and magazine offering to News Ltd Australia in a $481 million deal.
However, last year Ovato – the company formed by a 2017 merger between the Hannan family’s IPMG and PMP Ltd – entered into voluntary administration, in part due to the burgeoning dominance of digital content.
James Hannan was chief operating officer at Ovato until its collapse last year. He has since joined consumer goods wholesaler, Yatsal Distributors.
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