Cate Blanchett and husband Andrew Upton are selling their Hunters Hill home for $20 million

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Hollywood A-lister Cate Blanchett and husband Andrew Upton are selling their prized waterfront home in Hunters Hill in readiness for the family’s move to the United States.

The historic trophy home, Bulwarra, is set to be one of the headline acts leading into the spring selling season with a price of more than $20 million set to challenge the lower north shore record.

The couple are expected to leave Sydney at the end of this year when their three children finish school for the year and Upton’s term as creative director of the Sydney Theatre Company comes to an end.

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The sandstone residence is set on one of the suburb’s largest privately held blocks of 3642 square metres. Ken Jacobs, of Christie’s International, is expected to launch the expressions of interest campaign in September.

The couple bought the property in 2005 for $10 million from merchant banker Jim Dominguez and his wife Suzanne, and undertook an extensive, three-year renovation that  almost doubled the floor space and added separate, self-contained quarters under the swimming pool.

The Will Dangar-designed grounds include a championship tennis court on the riverfront. The rebuild by architects Nadine Alwill and Dr Stephen Lesiuk is estimated to have cost more than $8 million.

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Built in 1877 as “Erigola”, it was originally owned by brick manufacturer Herbert Oswin Weynton, who sold it in 1904 to chairman of Arnotts Biscuits company Halse Rogers Arnott for £750.

In 1909 the Arnotts family sold it for £900 to long-time Hunters Hill alderman Charles Adnam Fairland, and it remained in the family hands until 1958.

The highest sale price achieved in Hunters Hill was $12.85 million  in May for the non-waterfront mansion of property investor Jana Lanvin.

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