How to double your money on $20m Vaucluse home

This rundown property has a $20m price guide, and could be worth more than double that if you play your cards right.

It’s the iconic harbour view that makes 3 Gilliver Ave, Vaucluse, so special.

If quintessential Sydney Harbour views are top of the buying hit list, then Gilliver Ave in Vaucluse should be high on the agenda.

Not only does the popular street have a magical vantage point for postcard vistas, it sits just off Vaucluse Rd with an easy walk to both Kambala and Kincoppal schools.

While the gun barrel views of the landmark bridge are a major drawcard for potential purchasers of the five-bedroom home at number 3, its the approved DA for an even grander property that adds additional wow factor.

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Resort-inspired features at the property include a wellness space with a pool, spa and sauna ... these may need a tweak or two.

The 700sqm site has enormous potential.

Plans drawn up by Stafford Architects would see a new floor plan feature approximately 940sq m of internal living space on the 707sq m site.

“If the DA is taken on, you’ll end up with a $45m house,” said Highland Double Bay director David Malouf of Highland Double Bay Malouf, who shares the listing with his colleague Harry Schier.

The property, which last traded for $6.5m in 2006, goes to auction on November 14 with a $20m guide.

The approved plans promise to redefine luxury design and will continue to focus on the world class backdrop from almost every room.

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The approved new floor plan offers 940sq m of internal living space ... alternatively, you could simply give the current home a makeover.

Wake up to dream views.

“You couldn’t reproduce this DA today, it’s so unique and really is an incredible opportunity,” says Malouf.

“Otherwise you could simply keep it as it is and update the existing floor plan which is a great family layout.”

The family-friendly floor plan is fully functional as is, incorporating four levels of living from a grand games room on the basement level up to an enviable roof top terrace that captures the best vantage point for all the harbour has to offer.

On the ground floor, the formal and casual entertaining zones flow out to courtyards or the front veranda for all year round gatherings.

Upstairs, all five bedrooms have built-ins and big windows with either balcony access or a bridge and water outlook.

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The bones are good ... check out the size of the kitchen!

Plenty of room for a dinner party.

In the palatial main there is a bath ensuite and a walk-in wardrobe.

Additional resort-inspired features at the property include a wellness space with a pool, spa and sauna, a games room or home cinema with powder room, plus a large rumpus on the rooftop with a five star party panorama.

There is also the convenience of a private lift to all levels a four-car garage plus driveway spot.

The home sits between Queens Beach and Vaucluse House within close proximity to Nielsen Park as well as sought after schools.

“This is an exceptionally rare opportunity on a due-north parcel, with gun barrel views over Sydney Harbour that offers a canvas for your dreams with DA approval,” says Malouf.

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Originally published as How to double your money on $20m Vaucluse home