Real Estate

Vaucluse has $100m worth of sales in 12 days

Written by The ReReport

As the rest of Sydney property wallows in property misery, the mood is upbeat in the harbourfront suburb of Vaucluse where $100 million worth of homes have sold in 12 days.

The most expensive of these has been the hushed-up sale of about $39 million for a waterfront at 9 Coolong Rd in a deal understood to have been stitched up on Monday by LJ Hooker Double Bay legend Bill Malouf and Ben Collier of The Agency.

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Mr Malouf was bound by confidentiality agreement and couldn’t comment while Mr Collier was unavailable, on a plane to the US, today. However, other sources confirmed the sale.

CoreLogic records show the home is in the name of Qiaorong Huang, wife of a Chinese supermarket billionaire, who bought it for $36 million in 2015.

This sale followed the sale of more than $20 million last Friday of a six-bedroom renovator’s delight with its knockout iconic harbour views at 4A Vaucluse Rd, owned by Hong Kong-based couple Rosemary and Desmond Inglis for more than 45 years.

“We had local and international interest,” Paul Rich of Rich’s Double Bay said.

It was bought by a local property developer who plans to build a dream home for his family.

Then at last night’s auction, Ray White Double Bay’s Gavin Rubinstein sold the five-bedroom home at 7 Dalley Ave, Vaucluse of David Tapper, senior partner managing director of Boston Consulting Group, for $7,720,000.

There’d been four registered bidders, with two of them fighting it out for the home.

“Some in the press are saying the market’s coming off — I don’t think so, not at that end of the market.

“There’s a lack of quality choice and that iconic view is performing the best I’ve ever seen, 10 years-plus.”

The other sales include the home of Mark Michalowsky and his wife, Roleen, at 6 Burrabirra Ave. Mr Michalowsky sold his industrial gas business, Supagas, for more than $300 million and in September bought a Vaucluse waterfront for $28.5 million.

The redundant home sold on November 26 for an undisclosed price through Raine and Horne Double Bay’s Martin Maskin and Jake Carter. Though safe to assume it sold within its $8 million to $8.5 million range after it failed to sell at its November 22 auction.

The remainder Vauclase sales making up the $100 million are the November 29 auction sale of the Leung family’s six-bedroom home at 17 Gilliver Ave, which sold for $11.8 million through Raine and Horne Double Bay duo Alex Lyons and Ric Serrao and the November 27 sale post-auction for $13 million of a rebuilt five-bedroom mansion at 9 Vaucluse Rd, again through Mr Rubinstein and his colleague Cae Thomas.

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