A look at Sydney’s most expensive homes of 2016
BUYERS are still thirsting for Sydney prestige property as $10 million-plus trophy homes continue to be snatched up. We showcase them from the bargain basement $11.85m up to $20.3m.
Wentworth Courier
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THE prestige market has continued its strong performance across Sydney well into 2016 as more and more $10 million-plus properties are snatched up by eager buyers.
While 2015 saw record breaking sales, including James Packer’s unforgettable $70 million Vaucluse home, real estate experts say 2016 is continuing to see high demand for upper-end properties.
Sotheby’s International’s Michael Pallier said while prestige stock levels were higher last year, there is still a thirst for trophy homes, most notably coming from local buyers.
“One thing I have found this year — there seem to be less Chinese buyers than last year,” Mr Pallier said.
Mr Pallier said of the four $10 million-plus sales he has handled in September, only one buyer was offshore.
He said low interest rates and the development boom were contributing to more local buyers coming out of the woodwork.
“A lot of people have made money in the property industry and a lot of these people are property based. Commercial is doing well and residential is doing well.”
“Offshore Chinese buyers are now paying 3 per cent extra stamp duty so that is a disadvantage compared to locals,” he said.
Mr Pallier expects the prestige market across Sydney to continue to perform as it has although acknowledges that there is still a low supply of properties while demand remains high.
Here are some of the year’s most impressive $10 million-plus sales to date.
28a The Crescent, Vaucluse — $20.3 million
IT WAS snapped up by Menulog co-founder Dan Katz in March and it’s easy to see why.
The Vaucluse home fronts onto Parsley Bay with waterfront access and uninterrupted water views. It even includes a private jetty, swimming pool and manicured gardens.
“Werribee”, 37a New South Head Rd, Vaucluse — $20 million
IT HAD an initial price guide of $18 million but this Vaucluse home managed to sell to one of China’s wealthiest businessmen for $20 million in June.
Built around World War I, the property was owned by the late Cementaid founder Peter Aldred. The 3330sq m property has dual-street frontage, seven bedrooms, five bathrooms, a garage for five cars, and a swimming pool.
1 Rose Bay Ave, Bellevue Hill — $18 million
DESIGNED by architect Professor Leslie Wilkinson, this Bellevue Hill home was built in the 1920s and traded owners just this month.
Macquarie Bank investment banker Alan James sold the seven-bedroom, five-bathroom house to fellow Macquarie Bank employee, Sebastian Barrack.
The home sits on a 2415sq m block and features a tennis court.
26 Plunkett Rd, Mosman — close to $17 million
PERCHED above Balmoral, the home of Donna Doyle, former wife of mining chairman Alan Doyle sold for close to $17 million after original expectations of $15 million.
The property was designed by architect Alex Popov and has four bedrooms, a Corian kitchen with Miele appliances and of course, stunning water views.
“Tivoli Villa”, 26 Tivoli Ave, Rose Bay — $16.85 million
FORMER restaurant mogul John Szangolies laid down well over $16 million for a Rose Bay trophy home in March.
The five-bedroom home has panoramic harbour views, spans three levels and includes a swimming pool. The main bedroom is pure bliss, featuring a private sitting room taking in the sights.
“Listowel”, 327 Edgecliff Rd, Woollahra — More than $16 million
IT SET a record when it reportedly sold for more than $16 million just last week and there is not question as to why.
The Woollahra mansion owned by businessman Costa Vrisakis and his wife Despina last exchanged 35 years ago for $1.5 million.
27 Harriette St, Neutral Bay — about $16 million
THE Neutral Bay estate of Origin Energy boss Grant King and his wife Jennifer sold for about $16 million in August, smashing the suburb record.
The Kings bought the home in 2007 and in 2010, the home was completely transformed by architect Marc Biancardi to include 715sq m of luxury internal living, including a home cinema, billiard room, an integrated indoor/outdoor sound system, guest accommodation and a downstairs sauna, spa and cabana that opens out to a wet edge pool.
57 Coolawin Rd Northbridge — about $15.5 million
IT WAS only on the market for one month before an offshore buyer paid about $15.5 million for it in early September.
Until then, the waterfront property was owned by Justin Reizes, former head of equities firm Kohlberg Kravis Roberts. The six-bedroom, six-bathroom house overlooks Middle Harbour and even includes a private beach and boating facilities.
23b Bay View St Lavender Bay — close to $15 million
FORMER TV producer Bob Armstrong managed to score close to $15 million for his absolute waterfront home.
Offered for the first time in 27 years, the four-bedroom Bay View St home has uninterrupted Harbour Bridge vistas and also includes three levels of living with a waterfront swimming pool, home cinema, and lockup parking for up to four cars.
27-29 Gaerloch Ave, Tamarama — about $14 million
THE Tamarama home of Ingham Chicken heir and former fashion retailer Robby Ingham and his wife Sarah smashed the suburb record when it sold for around $14 million in August.
The property takes in Tamarama Beach and Mackenzies Bay views and features floor-to-ceiling windows in its open-plan living areas.
There are five-bedrooms, multiple outdoor entertainment areas and a 25m lap pool.
“Clyde Cottage”, 115 Queen St, Woollahra — about $13.5 million
CLYDE Cottage, the Woollahra landmark sold for around $13.5 million last week after an extensive transformation by its owners Ronald Anthony Ooi, one of Singapore’s richest people and his wife Erica Han.
They bought the home for $4 million in 2011 in a state of disrepair but was restored and redesigned by studiointernationale and May+Swan Architects who retained the property’s original Victorian-style facade while the rest of the home was given an ultra-modern addition.
10 Wyuna Rd, Point Piper — more than $13 million
DESIGNED by architect John Suttor and set in one of Sydney’s most prestige suburbs, this Point Piper home sold for more than $13 million prior to auction in September.
The home belonged to Betty Harris and following her death in 2009, was left to her neighbour Beatrice Gray.
The four-bedroom, six-bathroom home has harbour views, a swimming pool, two-bedrooms featuring walk-in wardrobes, a double frontage and multiple living and entertainment zones.
1 Curraghbeena Rd, Mosman — $11.85 million
ANOTHER absolute waterfront home — this five-bedroom Mosman property sold for just shy of $12 million in April.
Owner Robert Drake, managing director of infrastructure finance firm Balfour Beatty and his wife Peta, the property was a Luigi Rosselli design.
It features an infinity pool, jetty and boat mooring as well as multiple indoor living areas, a billiards room, wine cellar and teenagers retreat.
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