$24.8m for Gold Coast trophy home Alston
Alston, a riverfront mansion at Southport on the Gold Coast, has sold under the hammer for $24.8m, the highest residential property sale in Queensland so far this year.
Alston, a riverfront trophy home at Southport on the Gold Coast, has sold under the hammer for $24.8m, the highest residential property sale in Queensland so far this year.
There were three registered bidders at the Friday evening auction of the chateau-style McMillan Court home with tidal beach frontage.
It was sold by the Adelaide businessman Mathew Fitch, who co-founded Fusion Capital, and his wife Magdalena.
The home, designed by architect Michael Witty, sold through Kollosche Prestige in conjunction with Ray White.
The 3442sq m estate last changed hands in 2021 for $23.75m when bought from transport tycoon Peter Smith, the SCT Logistics founder.
The deal continues the prestige auction sales run that included the $24m Isle of Capri purchase in July by tr️avel and fashion digital creato️r️ Rebecca Smollen, wife of property developer Shane Smollen.
The weekend also saw a $4.2m sale at Shelly Beach through Ray White Caloundra agents Andrew Garland and Marcus Lane.
The four-bedroom home at 1 Ocean Court sold to a Brisbane buyer seeking a holiday home.
All seven of the registered bidders were from southeast Queensland, Mr Garland said.
Key weekend listings on the Sunshine Coast did not find buyers.
Meanwhile new realestate.com.au data shows property searches for the term “beachfront” are up 11 per cent over the past year.
In the clear
The weekly national capital city preliminary clearance rate came in at 72 per cent, the highest in four weeks, according to Tim Lawless at CoreLogic, despite the busiest listing volume since April.
All capital cities saw slight improvements in clearance rates, led by Adelaide at 84 per cent.
Sydney stepped up to 74 per cent, its highest preliminary clearance rate since August. Melbourne came in at 70 per cent, as did Brisbane.
Canberra at 57 per cent was the weakest auction capital.
PropTrack economist Anne Flaherty noted significant drop in auction volumes this week to avoid selling around the long weekend.
PropTrack recently noted the eighth consecutive month of growth in home prices nationally in August. They now sit just 0.8 per cent below the March 2022 peak.
Sydney’s finest
Sydney’s top advised weekend auction sale was $13.9m in Vaucluse. The home was announced on the market at $12.8m by auctioneer Stuart Davies.
There were six parties bidding for the five-bedroom, contemporary Fitzwilliam Rd home which Michael Pallier at Sydney Sotheby’s International Realty sold to a Chinese Australian couple in their late 30s.
The listing attracted 4700 views on realestate.com.au.
Sydney also saw the sale of a midweek Vaucluse Rd, Vaucluse auction offering listed by property investor William Wu. It sold for more than its guide of $18m. The six-bedroom house was bought in 2021 for $13.32m.
Passed in
The Centennial Park home of publicist and minder Grant Vandenberg and his wife Lisa attracted three registered bidders. But bidding fell short of its $13m guidance through The Agency and the Lang Rd house was passed in at $12.51m. It came after auctioneer Damien Cooley had placed a $12.5m vendor bid.
The couple purchased the house, now with Briony Fitzgerald decor, for $1.3m in 1998.
They have bought in Paddington for $6.4m through McGrath. The couple’s downsizing intentions became apparent when they put down a holding deposit at the Fortis Woollahra development, but then decided not to proceed to exchange on its May launch.
In the money
The weekend saw 41 scheduled auctions across the nation with vendors seeking $5m-plus, with 38 of them in Sydney. Vendors of four decided to reschedule their auctions to October.
Manly, Willoughby, Mosman and Seaforth each had three trophy homes up for auction.
There was an $8.5m sale at Mosman when the five-bedroom house at 19 Muston St sold, having coming with an $8m price guide. The home traded at $2.55m in 2006. Seaforth also saw an $8.5m sale when the MHDP Architects designed home at 10 Avona Cres sold through Michael Clarke and Jordan Galpin at Clarke & Humel Property.
Prestige prices
There were three prestige Sydney listings that sold prior, including the Paddington home of Canva’s chief financial officer Damien Singh for $13.5m, which he bought two years ago with partner Alexandra Pack for a then record $12m from Sydney Airport chief executive Geoff Culbert and his wife Emma Ward.
Paddington’s terrace record jumped in June to a reputed $14m for an 1877 offering, Brompton, but there is mystery around its pre-auction sale with settlement yet to occur.
Last week also saw a $11m Point Piper pre-auction sale by Daniel Darling, founder of San Francisco-based VC fund Darling Ventures, of his 1930s whole-floor penthouse.
It had been renovated by architecture firm Tobias Partners with interiors by Tamsin Johnson in the company title block of four.
But there was no success with the whole-floor Double Bay penthouse in the Amarco complex on Court Rd when it was auctioned through D’Leanne Lewis at Laing & Simmons.
It was passed in on an $11m vendor bid, and was the priciest of five consecutive in-room auctions by the agency that were all passed in on vendor bids.
Melbourne marvel
Melbourne had just the one prestige offering which resulted in a $6.45m sale in Southbank.
It was a sub-penthouse apartment in the Melburnian complex.
The three-bedroom, two-bathroom apartment at 250 St Kilda Rd sold through Gerald Betts and Jonathon Bird at RT Edgar who’d given $5.5m to $6.05m guidance. There were four bidders for the apartment that last sold off the plan for $1.25m in 1999.
Betts said the $35,000 per square metre outcome was “massive”.
The Melburnian was designed by Bates Smart for Mirvac, who won the Australian apartment project of the year at the 2003 HIA housing awards.
There was also the midweek auction of the record-setting new home at 29 Rose St, Bentleigh for $4.75m. It sold through Jack Liu and Nick Renna at Jellis Craig who’d offered $4m to $4.4m guidance. It had been converted to auction after heightened demand during its private treaty campaign. There were five registered bidders.
Waste not, want not
The luxury Strathfield residence owned by Daniel Tartak, of the Bingo Industries family, has gone under offer ahead of its forthcoming auction through McGrath Estate Agents. Tartak, the former chief executive of the family waste management giant, has owned it since paying $2.85m for the six-bedroom house with pool and tennis court in 2011.
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