As the pandemic news improves, the big property sales keep coming — the latest being the Vaucluse home of businessman Alex Ma which has fetched for more than $30m.
The seven-bedroom, eight-bathroom Hermitage Estate home at 20A Vaucluse Road — which Ma bought for $26.5 million in 2017 — was first listed last February after Ma, 30, had snapped up two waterfront homes on Carrara Rd for $56 million in late 2018.
Agents Peter Leipnik and Alex George of BadgerFox, had declared the house sold last March, but the Australian-based buyer couldn’t complete and the deal fell over.
That buyer even lost his $3m deposit.
But this afternoon, the agents confirmed to the Wentworth Courier, the home, on a 1500sq m block — with cinema, heated pool, lift, gym and sauna plus parking for 12 cars — sold to a fresh purchaser.
They’d relisted it in July this year with the same $30m guide with a planned August auction that never eventuated, but an Instagram post today indicated they’d found a buyer above that guide.
COVID-19 has certainly been no obstacle to big results.
Despite passing in on a vendor bid of $16.5m at auction the previous weekend, the stunning 14 Mirimar Avenue Bronte home with ocean views of cancer specialist GenesisCare founder Dan Collins and wife Cassandra had sold by last Friday for $16m via PPD Real Estate principal Alexander Phillips.
And Phillips himself isn’t afraid to be spending up big during a pandemic.
Less than 24 hours after the Bronte sale, Phillips bought a rundown two-bedroom semi at 10 Coolong Road, Vaucluse for $5.5m, $2m above reserve.
Michael Pallier, the Sotheby’s principal, had nine registered bidders including Jackie O’s ex, Lee Henderson (who didn’t get an actual bid in).
Asked why he wanted it so much, Phillips told Insider it was a solid long-term investment. “Coolong Road is the best street in Australia — you will never go wrong!”
He and wife Bridget are yet to move into the five bedroom mansion further up the street that they bought for $11.1m in 2018, also via Sotheby’s.
Phillips’s Bronte sale was last week’s top sale in the eastern suburbs, and his purchase of 10 Coolong Road the top auction result.
Second top was 3 John Dykes Avenue, Vaucluse, at $4.9m (the reserve), home of Roger Mendes, of Roger R. Mendes & Co Real Estate in Darlinghurst in the ‘70s via McGrath’s Imran Hamidi.
The recent sales successes — which of course also included the recent $95m sale of the Wolseley Road, Point Piper home of Katies co-founders Joseph Brender and the late Sam Moss by Sotheby’s Michael Pallier — is encouraging double-digit listings.
Gail and Michael Zammit have $40m+ hopes for their three-level renovated residence at 152 Wolseley Road via LJ Hooker Double Bay’s Bill Malouf.
Malouf also has the 18 Martin Road, Centennial Park mansion of hoteliers Sandy and Angelo Elliott with hopes of exceeding the $13m offer they’ve received in the past.
That six-bedroom, eight-bathroom home has a range of features including a solar-heated plunge pool with waterfall, a Gone with the Wind-style staircase; a 20-seat dining room and a 14-car garage.
Other just-happened sales have included art dealer Jenny Hillman has also sold her Bellevue Hill home for about $9m, which was the guide, ahead of its scheduled auction with Michael Pallier of Sotheby’s.
The five-bedroom home at 9 Cranbrook Lane had one of the best harbour views in the suburb. Now she has to offload her extensive art collection ahead of her downsize to two semis she bought for $10.5m in April.
Pallier had a great week of sales last week, with colleague Daphne Sauvage, selling the Art Deco apartment at 1&2/4 Gladswood Gardens, Double Bay owned by Geoff Kyle, who ran the popular Double Bay high-end tableware store Studio Haus, for just over the $3m guide. And Pallier picked up the Kilmory Estate Wentworth Street Point Piper three-bed unit of former QBE chief Pat Regan which has a $6.5m-$7m guide.