The price guide for 2 Darley St, Darlinghurst, was $40m with a different agent a year ago. Its new agents have a guide of $27m.

Iona is one of Sydney’s most talked about estates, thanks to the Hollywood royalty who once called it home, its picturesque period facade and it’s enviable location in the heart of Darlinghurst.

Today, the former residence of Baz Luhrmann and Catherine Martin is about to make headlines again; this time for its multimillion-dollar discount.

Launched to market by the current owners exactly a year ago, Iona had a price guide of $40m .

Now the Darley St mansion has resurfaced in a new campaign with a change of agents and a very different looking guide of $27m.

Vendors Tim Eustace, who is Mercury Private’s principal adviser, and his partner Salvador Panui, hav

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