One of Palm Beach’s most glamorous ocean-view estates – owned by investment manager Frank Elsworth and his wife, Amber – has sold for a price of between $26 million and $27 million. That is the highest figure paid on the holiday peninsula so far this year.

The exact figure is undisclosed. But local sources indicate the property – known as Karala – sold for more than the $25 million snack entrepreneur Lenka Dransfield paid for Rich Lister Ian Malouf’s Iluka Road home in May this year.