A new lord in Tasmania as Michael Maxwell buys $7.5m estate

Michael Maxwell, a former real estate boss of collapsed firm Babcock & Brown, has purchased one of Tasmania’s most prestigious waterfront properties.

The award-winning property is a scenic 55-minute drive from Hobart and has a thriving accommodation business and a designer house linked via a glass walkway. Picture: Harcourt

Keen yachtsman Michael Maxwell, who owns luxury tourist accommodation on Lord Howe Island, has just paid $7.4m for a property on Beaupre Point, a 12.35ha peninsula positioned where the Huon River Estuary and Port Cygnet meet near the D’Entrecasteaux Channel.

For his money, the former real estate boss of collapsed global investment advisory firm Babcock & Brown has purchased one of Tasmania’s most prestigious waterfront estates and, while he was reluctant to talk about his plans this week, he said he would continue to run Coast House as luxury tourist accommodation.

The award-winning property, a scenic 55-minute drive from Hobart, offers a peninsula location, thriving accommodation business and a designer house linked via a glass walkway.

The vendors were John and Judi Clark, who bought the site for $1.13m in 2013.

Harcourts Huon Valley owner Nick Bond listed the property in December, and it sold within about two weeks.

A room with a view: the property on Beaupre Point, Lymington. Picture: Harcourts.

Mr Bond declined to comment on the sale this week, but at the time of listing he said the combination of a stunning house on so much land, “plus the luxe Coast House accommodation that is booked out until mid-2022 … I don’t think there is anything that rivals it that has been on the market”.

Beaupre Point’s main residence was designed by Andy Lehman Design. It won the Master Builders’ Association Home of the Year in 2015.

The house has two pine pavilions including timber from the Clarks’ previous home in nearby Cygnet.

A spectacular convict sandstone outdoor fireplace makes a strong first impression.

Sandstone finishes continue around the property and include large rectangular pavers in the entertainment areas, entry and stairs, while convict sandstone mirroring the outdoor fireplace is featured as edging around the parking area.

There’s a wood-fired outdoor hot tub with sweeping views from the end of the peninsula.

Beaupre Point offers 12ha of level to gently sloping fertile farmland. It was previously a dairy farm and apple orchards. It is understood Mr Maxwell plans to add more experiences for his guests and will explore opportunities for further agriculture.

Rainfall averages 800mm a year, spread across all months of the year, with two dams with electric pressure pumps, linked irrigation and a 42mm pipeline to ­irrigate the property.

A timber boat shed is near the foreshore reserve where access to the pristine ­waterways is via a gently sloping track.

An ideal location: the prestigious estate is positioned where the Huon River Estuary and Port Cygnet meet near the D’Entrecasteaux Channel. Picture: Harcourts.

A boat mooring is to the west of the shed in Gourlays Bay, with about 5m of depth available at low tide. If deeper water is required, there is over 15m just 200m to the south of the main home.

Coast House, which is rented to tourists, is a single pavilion dwelling that matches the main residence in design and construction. There’s also a cottage available for guests and, all up, it provides for six guests a night.

It has been one of Tasmania’s most sought after luxury self-contained accommodation locations for the past few years.

The property fronting 32 Gourlays Rd was listed last year with price expectations of more than $7m.

The Maxwell family also owns the Island House tourism resort on Lord Howe Island that rents out for $3300 twin-share a night, having developed the luxury boutique resort, which has hosted Chris Hemsworth and his entourage, over 4 and a half years. Island House is run by Mr Maxwell’s son Tim.

Mr Maxwell, the former chairman of Sydney’s Sculpture by the Sea, sold his Sydney Wharf three-bedroom penthouse for close to $20m in 2020 having paid nearly $7m for it as a shell in 2008.

Originally published as A new lord in Tasmania as Michael Maxwell buys $7.5m estate