The couple resided there until Justice James died in 1934, at which point his widow Altona James had it divided into flats, and remained living there herself until she died in 1954.

In 1962 the Wunulla Road prize was bought by Bruce Herbert Jackson and his wife Mans Elsie Jackson, who converted it into an exclusive private hotel.

Altona, the guesthouse, became more of a celebrity haunt from 1974 when it was bought by Peggy and Jack Moore, hosting the likes of Ronnie Corbett and singers Dame Vera Lynn and Dame Kiri Te Kanawa.

Prominent psychiatrist Robert Hampshire and his then wife Sally snapped it up in 1988 for $11.5 million, and converted it back into a private residence.

By late 1991 the property market had turned and Dr Hampshire sold it at a loss for $6.1 million to bookmaker and car salesman Harry Barrett and his wife Pat.

Given the option of staying on at his long-held Strathfield home, Barrett sold Altona a year later to publisher Matt Handbury and his then wife, former model Fiona for $5.25 million.

Not only did the Handburys undertake a major renovation in 1994 and add the adjoining block for $6.25 million, but they cemented Altona's reputation as one of Sydney's finest homes by regularly hosting the social set at their parties and product launches.

After the Handburys divorced, it was sold to another publisher-former model couple Deke Miskin and his wife Eve for $28 million in 2002.

During the Miskins' protracted six-year campaign to sell the eight-bedroom mansion, and a rejected offer of $55 million, it sold in March 2013 to the Chaimovich Investments family trust.