Amanpuri, one of the great estates of west Sydney sells for $5.6 million
Amanpuri, previously known as Restella, one of the great estates in the west of Sydney, has been sold for $5.6 million.
The three hectare property at 269 Cobbitty Rd, Cobbitty had been listed for sale for $7 million in late 2012.
The asking price was at $6.25 million more recently with the Combined Real Estate agency.
It's a nine bedroom house with a pool said to have cost $500,000.
It previously sold at $4.5 million in 2008 having been the family home of Fincorp property investment and development group chairman, Eric Krecichwost and his wife, Tiffany.
It was in 2004 when Castle Hill-based Chateau Homes was commissioned to build the $1.8 million palatial residence on a three-hectare plot purchased for $1.08 million in 2003. At the time, the land price represented a Cobbitty record for acreage of less than four hectares by Krecichwost who had lived around the nearby Camden area for several years making a living selling vacuum cleaners.
Fincorp collapsed in early 2007, owing $200 million to 8,000 secured and unsecured noteholders with their money used to buy land and fund property developments in NSW, Victoria and Queensland.
Fincorp's administrator eventually sold the portfolio enabling secured noteholders to receive just over half their money back.
The unsecured noteholders also secured some of their money back from an out-of-court settlement with Fincorp's trustee company.
A District Court jury found that in September and October 2003 he dishonestly signed three company cheques for $900,000, $825,000 and $1,980,000 to pay for services that were never provided. Mr Krecichwost personally received most of the proceeds from those cheques.
On sentencing in 2011, District Court Judge Woodburne noted animosity towards Eric Krecichwost was strong, and he had been threatened by organised criminal as an investor in Fincorp had associations with a bikie gang.
Mr Krecichwost was sentenced to imprisonment for three years and six months with a requirement he serve eight months before being eligible for parole. The non-parole period was significantly reduced because of exceptional circumstances relating to the effect that imprisonment would have upon a dependent of Mr Krecichwost.
Eric Krecichwost lodged an appeal against his conviction which was heard by the Court of Criminal Appeal in April 2012 and dismissed on all eight grounds on which he sought to rely.
An application to the High Court of Australia for permission to appeal the decision of the Court of Criminal Appeal was refused in November 2012.
Consequently Eric Krecichwost , who was released on parole on December 7, 2011, remains disqualified from managing a corporation for five years from the date of his release from prison.
Other recent sales in the neighbourhood have included Belleair, the Coates Park Road home on six hectares of paddocks, lawns and landscaped gardens, which sold for $2,495,000.
Cobbity's median house price sits at $800,000, according to RP Data.
