Sydney – otherwise known as the Harbour City – has some of the most breathtaking ocean views the country has to offer.
And following another bumper weekend of auctions, Sydney can also boast that it’s now home to the most expensive waterfront property in Australia.
The house at 38B The Crescent in Vaucluse in Sydney’s eastern suburbs was sold to an anonymous Australian family for a mammoth, record-breaking $67 million.
Located in one of the most luxurious and most expensive suburbs in Sydney, the property known as “Phoenix Acres” has six bedrooms and bathrooms, a conservatory, tennis court, a 28m pool, a gym, library and even an English-style pub.
Attracting interest from buyers from New York, Beijing and Shanghai, the successful sale of the waterfront mansion ranks it third on the list of most expensive properties ever sold in Australia, behind Point Piper’s residence “Elaine” which sold for more than $71 million, and the $70 million sale of James and Erica Packer’s property “La Mer” in 2015.
The 3731sq m trophy home sold by Craig Pontey, director of Ray White Double Bay, told news.com.au that the fact the property sold so quickly and for such a high price was astounding.
“It is definitely being sold to a local family. It was only on the market for eight weeks, so it was pretty amazing,” said Pontey.
“There have been quite a number of trophy sales this year in Sydney – around $550 million worth, which is quite strong – and this sale demonstrates that the top end has had a pretty big year.”
For extra insight into how much the Sydney housing market has boomed over the last 20 years, Phoenix Acres was previously purchased for only $7,001,000 by Singaporean hotel and property mogul Chio Kiat back in 1995.
RELATED COVERAGE
These Breathtaking Structures Are Competing to Become World’s Best Building