John Singleton’s ex-weekender changes hands

The beach getaway once belonging to millionaire adman John Singleton has sold again in one of the Central Coast’s biggest sales.

The beach getaway once belonging to millionaire adman John Singleton has sold again in one of the Central Coast’s biggest-ever sales.

Called Saltwood, the four-bedroom home was sold in excess of the $6.5m asking price off-market last month to a Sydney-based buyer who plans to the use it as a holiday escape.

Lead agent Cathy Baker says the top end of the Central Coast market has been busy, with the Belle Property Killcare-Hardys Bay principal selling over $16m worth of weekender property this year alone.

“The holiday market has been very strong,” Baker says.

“The first half of the year was affected by the election, but we’ve had a strong winter.”

Mr Singleton purchased the home for $4.25m at the peak of the market in 2007, a suburb record at the time. It has sold three times since then, once in April 2011 for $3.85m and again in May 2015 for $4.5m.

The weekend beach home was ­designed for the marketing entrepreneur by local architect Karen Burke and plays with clean lines and natural styling. Ocean views are visible from the back deck of the home, which enjoys a north-facing aspect.

Durable against the elements yet timeless in design, the house draws on natural sandstone, glass and wood tones with high-end finishings.

A granny flat with kitchenette and own outdoor patio and driveway sits in the corner of the 1688sq m property.

Located on the southern end of the Central Coast, the home is 90 minutes north of Sydney and a short 25-minute ferry to Palm Beach.

Baker says the top end of the market has held up quite well. She is currently marketing several off-market properties valued between $5m and $10m.

Mr Singleton recently made headlines due to a deal that could see him offload his minority stake in Macquarie Media to Nine Entertainment for $80m.

CoreLogic data released last week showed Central Coast house prices stayed mostly stable to the end of August as the market stayed resilient throughout the downturn.