Harbourfront mansion in Vaucluse tops Australia’s priciest property sales in September

The spring selling season kicked off in September with a series of high-profile property transactions across Australia, culminating in a record-breaking sale in Sydney. A waterfront mansion in Vaucluse, Sydney, stole the spotlight with a sale exceeding $60 million, marking it as the most expensive residential property transaction in the country for the month.

This luxurious five-bedroom residence at 11 Coolong Road, spread over three levels and covering 1663 square metres, boasts both indoor and outdoor swimming pools. It offers direct access to Sydney Harbour via a private jetty and slipway, making it a coveted piece of real estate. The property was marketed by Elliott Placks of Ray White Double Bay and Michael Pallier of Sotheby’s International Realty. While the exact sale price remains undisclosed, the campaign guide indicated a target of $60 million.

The mansion’s north-facing street-to-shore aspect and uninterrupted harbour views enhance its allure. It is situated next to an expansive luxury compound owned by Menulog co-founder Leon Kamenov, who has amalgamated four large blocks into a site reportedly valued at around $200 million. “This sale underscores the continued demand for high-end waterfront properties in Sydney,” said Elliott Placks, highlighting the property’s unique features and prime location.

Meanwhile, another Sydney property set a new benchmark for residential auctions in Australia. A landmark residence in Rose Bay, known as The Knoll, was sold under the hammer for $41.5 million. The Georgian Revival manor at 19 Kent Road, dating back to 1935, spans 2536 square metres and offers panoramic views of the Royal Sydney Golf Club. “The Knoll is a truly unique property, steeped in history and elegance,” said Michael Dunn of Richardson & Wrench Double Bay, who marketed the property alongside his son, James Dunn. The initial price guide was set between $30 million and $35 million, but fierce competition pushed the final price to a record-breaking level.

In another high-profile transaction, Iona, a grand Victorian Italianate manor in Darlinghurst, Sydney, once owned by film director Baz Luhrmann and designer Catherine Martin, sold for $37.5 million. This historic seven-bedroom estate at 2 Darley Street, with its expansive 2716 square metre grounds, was on the market for just 12 days. “We had significant interest in this property, with four parties vying for it,” said Harriet France of Sotheby’s International Realty. The sale price was close to the $27 million guide set by the agents, following a previous asking price of $40 million last year.

Outside of New South Wales, other states also saw significant property sales. In Victoria, a six-bedroom mansion in Kew’s prestigious Sackville Ward was sold, although the final price was not disclosed. The property, marketed by James Tostevin of Marshall White Boroondara, was initially guided at $15 million. It features resort-style gardens, a pool, a tennis court, and a six-car basement.

Queensland’s top sale was a waterfront estate known as The Palms, located at 60 Sophie Avenue on the Gold Coast. The property, with 65 metres of river frontage, sold for $11.6 million. “This estate offers a unique blend of luxury and privacy, making it a standout property on the Gold Coast,” said Sam Guo of Kollosche, who handled the sale.

In the Australian Capital Territory, a period home built in the 1930s at 18 Tennyson Crescent, Forrest, emerged as the most expensive sale. The property, originally a diplomat’s residence, retains its heritage charm while offering modern amenities. Mario Sanfrancesco of Blackshaw Manuka facilitated the sale, though the price remains undisclosed.

Western Australia saw its highest transaction with the sale of a penthouse on South Perth Esplanade. The whole-floor apartment, offering 180-degree views of the Swan River and Kings Park, was listed by Eric Hartanto of Hartanto Properties. Although the sale price was not confirmed, similar properties have recently sold for between $1.5 million and $6 million.

In Tasmania, a historic Federation-era estate in Hobart, known as Daille, sold for $3 million. The property, with its five bedrooms and heritage features, was once home to local beer icon James Boag III.

Finally, in the Northern Territory, a renovated four-bedroom house in Fannie Bay was the priciest sale, with a campaign guide of $1.8 million. The tropical-style home, complete with lush gardens and a swimming pool, was recognised for its award-winning renovation.

These transactions underscore the robust demand for luxury properties across Australia, as buyers continue to seek unique and prestigious homes in prime locations.