Deepwater home boasts breathtaking views of the harbour

It is not often a resort-style property on the edge of Sydney’s famous harbour comes to the market, which is what makes a home recently listed in Neutral Bay stand out from the rest.

It is not often a resort-style property on the edge of Sydney’s famous harbour comes to the market, which is what makes a home recently listed in Neutral Bay stand out from the rest.

The deep waterfront home at 19 Shellcove Road, which boasts 180-degree water views of the main harbour, and is expected to reap $20m at settlement.

The top end of the market has held up well in Sydney and recently saw additional demand from Hong Kong buyers, who are looking to secure their money in foreign investments.

Realestate.com.au chief economist Nerida Conisbee said the classifieds site had seen a 20 per cent increase in searches from Hong Kong, compared to a 50 per cent drop from mainland Chinese over the same period.

“Premium Sydney suburbs are seeing some very high levels of price growth, particularly those with a median of over $2m,” Conisbee says.

“There would be a lot of interest from Hong Kong in this calibre of property as they are used to paying that sort of price.”

The five-bedroom, six-bathroom Shellcove Road home sits on a 1567sq m block and is nestled into the prestigious Kurraba Point.

Light-filled interiors showcase case spectacular water views. The home opens out to a travertine-tiled terrace, a separate tennis pavilion with its own kitchenette and bathroom that overlooks the tennis court and water. Any boatie would be drawn to the impressive berthing facilities — two boathouses, slipway and jetty.

The trophy home has been in the possession of media and business professional Marcia Raheb for the past 14 years. The family decided to downsize now that two of their three children have left the nest.

The Agency’s Scott Thornton and Knight Frank’s Adam Ross and William Liang are co-marketing the property. Expressions of interest close on October 1.

Earlier this month, hotelier Andrew Thomas sold the neighbouring historic property Cossington. The Queen Anne-style residence in Shellcove Road, Neutral Bay, was sold by Piers van Hamburg, of Di Jones, for above the $8m asking price in little more than three weeks.