1 Wentworth Road, Vaucluse.
It’s the first time a Sold sign has gone up in front of 1 Wentworth Rd, Vaucluse in more than 55 years, but the wait was worth it.
The Andrews family home has just sold for $20 million.
Local musician Nick Andrews’ parents bought the home in the 1960s, not long after opening the notorious nightclub, The Latin Quarter in the 1950s.
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The grand old dame is a period five-bedroom, two-storey home that is a modest residence compared with the neighbouring multimillion-dollar mansions on Wentworth Rd.
The millionaires row is also home to the former Sydney residence of James and Erica Packer (which sold in 2015 for more than $70 million) and is the current address of Meriton Apartments boss Harry Triguboff.
But the impressive double-digit price tag for an original property proves that in real estate it’s all about the location.
Listed with Micheal Pallier of Sydney Sotheby’s International, the valuable parcel of Vaucluse land measures 2107sqm with rolling lawns, European-inspired terraced gardens and enviable views of Sydney Harbour.
Sold for $20 million.
What a spot.
Made up of three separate blocks combined into one huge estate, the sprawling property has the potential to be transformed into a landmark address.
Although Mr Pallier remained tight-lipped about just who the purchaser is, in his pre-sale marketing material he mentions that the land is big enough to include a tennis court, large pool and underground parking if the buyer choses to do so.
Or, if Woollahra Council agrees, it could be carved up into multiple lots.
“There is potential to build a large trophy home on the land, with room for a tennis court, large pool and underground parking, or subdivide the land and build two or three new homes, subject to council approval,” the listing read. “This is a huge parcel of land.”
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Although an eye-watering sum for most Sydneysiders, this $20 million sale is not alone in the patch as several recent sales in the eastern suburbs have achieved well over that figure.
Just last month tech billionaire Mike Cannon-Brookes of Atlassian reportedly spent almost $100 million for the glamorous Fairwater estate in Point Piper.
In August, the first 2018 Vaucluse sale over the $20 million mark was made when a contemporary home on Queens Ave, which was owned by former Goldman Sachs director Karl Mayer and his wife Tanya, sold right on the money.