Record price for rare waterfront opportunity at Cronulla Beach

An out-of-town buyer has snapped up the Cronulla waterfront home for $22.5 million, the largest residential price ever achieved in Sutherland Shire.

17 Taloombi Street, Cronulla is expected to fetch more than $20m.

A Cronulla beachfront house has sold for $22.5 million, the largest residential price ever achieved in Sutherland Shire.

The property sold ahead of the scheduled May 14 auction to an out-of-town buyer.

Property developer Allen Sammut decided to sell his prestige property on the water’s edge at Gunnamatta Bay, 26km south of the Sydney CBD, as he looks to downsize. His agent, David Highland of Highland Property, says it was the best beachfront property he has put to market in 30 years.

The three-bedroom estate is five minutes’ walk from the busy Cronulla St retail and restaurant strip, yet it sports a white sand beach out the front as well as walls of floor to ceiling glass, with a bespoke stone fireplace as its centrepoint.

The three-bedroom estate is five minutes walk from the busy Cronulla St retail and restaurant strip.

Highland says March was his biggest month in Cronulla in 18 years. “It was our strongest trading period. Cronulla as a whole is holding up very well. This is the only beachfront on the market. The Cronulla market is still moving well – we have not seen a huge ­correction.”

Prior to the sale, Highland said the property, which could be used as a lock and leave, would suit a young family who want to live on the beach or downsizers.

He said it was attracting phenomenal attention.

“We are getting interest from all parts of Sydney from our databases in Double Bay and the Inner West. We have strong interest.”

Agent David Highland of Highland Property says it is the best beachfront property he has put to market in 30 years.

The property features a west-facing infinity pool and sun-drenched alfresco area along with a stylish rumpus area with a wet bar and entertainment space.

The middle-level balcony has unparalleled sunset views over the bay, providing a tranquil and private retreat to unwind, relax or dine, while the lower-level rumpus features underfloor heating, a Jetmaster fireplace, a steam room, and a fully equipped bar, ideal for entertaining guests.

Outside there are meticulously landscaped gardens which complement the outdoor area with an integrated barbecue and wet bar, while on the water there’s a custom-designed boathouse with portholes.

Property developer Allen Sammut bought the site in 2011 for $4.4m.

The master suite includes a gas fireplace, private balcony, dressing room and an ensuite with a built-in TV, while the additional bedrooms have outdoor access through French doors to ensuite bathrooms and private loft living areas.

There’s a state-of-the-art home theatre with cinema lounge seating and Dolby Surround sound system, fully equipped home gym, and double garage with internal access, along with a double carport and a further two off-street parking spots, enclosed behind a security gate.

CoreLogic records show the 764sq m site was purchased by Sammut in 2011 for $4.4m.

Highland said some of the bespoke furniture was available for separate purchase.

Sammut is apparently looking to downsize to Sydney’s eastern suburbs.