Vaucluse waterfront mansion lists for the first time in 83 years with $50m guide

One of the most iconic homes on Sydney Harbour with historic charm and jaw-dropping views is for sale for the first time since the sellers paid just $4221 in today’s money 83 years ago.

Pt Seymour, also known as 83 Fitzwilliam Rd, Vaucluse, is on the market.

A waterfront Vaucluse home whose keys have been passed through generations of the same family for the past 83 years is finally being offered to the market with a $50m price tag.

Known as Wedding Cake House, the rounded, three-level home with north-facing views at Pt Seymour is one of the most recognisable homes on the harbour.

For the past 25 years, Sydney Sotheby’s International Realty managing director Michael Pallier has been asked by interested parties if he could entice the Bracey family to sell their home. While the answer has long been no, he has now been charged with finding the five-bedroom, five-bathroom home at 83 Fitzwilliam Rd its next owner.

“It’s one of those iconic Sydney properties and every person that goes on a ferry to Manly goes past the front of this house,” Mr Pallier said.

“It is without doubt the best positioned house in Vaucluse. These houses, they just come up, so it’s going to be an event.”

Horace Edward Pearce Bracey purchased the former wharf from Sydney Ferries in two separate purchases in 1939 for just $4221 in today’s money. He never would have thought the home could now be worth $50m.

The property was purchased over 80 years ago for just $4221 in today’s money.

Mr Bracey gave the home to his younger brother Eric in 1948, who in turn passed the property to his son John upon his death in 1968. John and his wife Margaret moved into the property in 1975, and lived there until their respective deaths in 2008 and 2021.

Parts of the property were built in 1910 in the art deco stylings popular at the time and incorporated into the overall build. While internal renovations have been taken out over the years, the historic bones of the home can still be seen through the 3m-high ceilings and grand circular staircase.

Now, the couple’s three sons have regretfully decided it is time to sell. Bill Bracey lived in the home next door to his parents until 12 years ago, and reminisced about the five generations of the family who have celebrated weddings, milestone birthdays and attended wakes on the expansive grounds of the home.

“It’s sad because it’s the end of a dynasty if you like, but then again, it is a new beginning of something,” Mr Bracey said.

“I’m also excited for a new family, who I hope will have the love in the house that we were lucky enough to have.”

Mr Pallier said there was a good chance the home would be sold to another family who would in turn hold the property for an extended period.