Real Estate

$30m Vaucluse home of Alex Ma sells prior to auction

Written by The ReReport
As seen in the Source link, written by on 2019-03-15 19:28:35

20a Vaucluse Rd, Vaucluse, has sold prior for above its $30m guide.

The Vaucluse home of businessman Alex Ma, which was set to break the national auction record had it sold under the hammer at Monday’s scheduled auction, has sold tonight for above its $30m price guide.

BadgerFox agents Peter Leipnik and Alexander George had interest from Dubai and China and also eastern suburbs families in the seven — bedroom, eight-bathroom home at 20A Vaucluse Rd.

A confidentiality agreement prevented the pair from revealing the exact price, though they did say it was a street record.

That means it was above the $29,250,000 paid by the Krok family — originally from South Africa who made their fortune from cosmetics and casinos — for ‘Tahiti, the five-bedroom home at 22D Vaucluse Rd in 2007.

20a Vaucluse Rd, Vaucluse, is in the prestigious Hermitage Estate

That had set a national record for an Australian house at the time.

It’s also been confirmed that the price was above its auction guide.

It’s understood that the buyer of the home spends time in both Australia and overseas.

Having just inked the deal tonight, Mr Leipnik said it would have been good to have set the record price by proceeding to auction on Monday night.

“But I didn’t want to gamble with Alex’s money,” he said. “It would be wrong to let my ego get in the way of a good deal.”

20B Tivoli Ave, Rose Bay (above and below), sold for about $24m a few weeks ago post-auction

A few weeks ago, a five-bedroom waterfront home in Rose Bay with a guide of $25 million narrowly missed out on setting the auction record when it passed in after a bid of $23.25 million.

The Agency’s Ben Collier was bound by confidentiality agreements, but other sources suggested the Tivoli Ave home of property investor Stephen Burcher and his wife Melissa, may have fetched just over $24m.

That deal also counted as a private treaty sale because it sold in the days following.

The Tivoli Ave property had gun-barrel views of the Harbour Bridge and Opera House — and so does Mr Ma’s.

Although not on the waterfront, it was much bigger.

“The Rose Bay house was about 650 sqm internally — ours is 1500 sqm so it’s about three times the size,” Mr Leip­nik said.

Mr Ma bought it for $26.5 million in 2017 in a private treaty negotiation.

From his balcony, he could look out over the neighbouring harbourfront Carrara Rd homes he bought for $56 million late last year.