Car dealer pays highest price of the year in Palm Beach
A well-known car dealer has paid the highest price of the year in Sydney’s most exclusive holiday playground.
Sydney’s most prestigious holiday peninsula has a new 2024 price record after the sale of Karala at Palm Beach for between $26m and $27m.
The buyers are understood to be the well-known car dealer Paul Warren and his wife, Elizabeth.
Owned by investment manager Frank Elsworth and his wife Amber, the sophisticated beach house with ocean views on Pacific Rd was listed through LJ Hooker Palm Beach team David Edwards and Peter Robinson.
“It’s been a really good winter for these exceptional one-off properties and I think that’s just because there’s not a lot on the market given the time of the year,” Robinson says.
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“Although there is a lot of hesitation in the general market, this sector is going strong as our buyers are rarely impacted by interest rates.”
According to records, the Elsworths bought the property, which has gun-barrel views of the famous peninsula and Barrenjoey Lighthouse, for $26.5m in 2022.
It had previously been owned by Boutique Resorts founder Sioned Rees Thomas.
The sale of the 1765sq m six-bedroom house comes just weeks after a nearby deal made by the same LJ Hooker duo in May when Dial A Dump founder Ian Malouf sold his Iluka Rd home for $25m.
That Palm Beach trophy was snapped up by snack food entrepreneur Lenka Dransfield from the eastern suburbs.
In 2022 Richard White, the former AC/DC guitar technician turned founder of software giant WiseTech Global, set a northern beaches benchmark for a rumoured $27.5m when buying Beau Site Sur Mer on Pacific Rd.
With interiors by Les Interieurs, the home has a distinctly French theme with designer European finishes throughout, a freestanding gym, a sauna, a 14.5m heated pool overlooking the beach and a two-bedroom caretaker’s quarters.
Interestingly, that luxury weekender had also been owned by the Elsworths before their move to Karala.
In December of 2022, Malouf blew up the Palm Beach house price record again, paying $40m for the luxury beachfront home Anakela overlooking Pittwater, a getaway for him and his wife, Larissa, and their five children.
Originally published as Car dealer pays highest price of the year in Palm Beach
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