Things are hotting-up in Australia’s most expensive suburb as a beachfront property in Point Piper is now up for grabs after being listed with an eyewatering $40,000,000 price tag.
The home of student accommodation developer Michael Zammit, is the latest luxury pad to be added to the market in the prestigious neighbourhood following a recent flurry of astronomical transactions.
The three-storey home, at 152 Wolseley Road, is available for the first time since 1998, when it was purchased for $3.6 million, and after undergoing an impressive makeover it is expected to fetch over 10 times that figure!
Backing on to the sands of Lady Martins Beach, the home is one of only twelve that shares the exclusive beach along with the who’s who of Sydney’s elite.
The stunning five-bedroom property features a boathouse, internal lift, swimming pool and a large parent’s retreat, and the views aren’t bad either!
A shortage of properties being added to the market has meant that sale prices have remained high, as the pandemic-proof mega-rich look to secure the crème de la crem of Sydney’s real estate.
Only recently did nearby 92 Wolseley Road transact for $95 million after being purchased by Chinese businessman John Changjin Li, as well as the sale of the former Sydney lord mayor, Nelson Meers’ Point Piper apartment for $18 million.