multimillion-dollar mansions

The rich seek out multimillion-dollar mansions in Australia’s property market to escape COVID

PHOTO: Sydney. FILE

The luxury end of the housing sector still performed strongly, with the country’s third most expensive home snapped up in a Sydney suburb.

High end buyers seeking a safe haven from the pandemic sought out mansions in some of the nation’s most exclusive postcodes.

Sydney dominated the top sales once again as buyers prioritised waterfront views.

Yet the nation’s most expensive property, a Point Piper mansion which was sold for $95 million in September was only enough to rank as Australia’s third most expensive house.

That record went to a nine-bedroom penthouse at One Sydney Harbour in Barangaroo, which sold for a whopping $140 million last year. It broke the $100 million mark set by Atlassian co-founder Mike Cannon-Brookes for a Point Piper estate, Fairwater, in 2018.

How about some tennis by the sea? One of the few harbourside tennis courts in Point Piper. Picture: realestate.com.au

How about some tennis by the sea? One of the few harbourside tennis courts in Point Piper. Picture: realestate.com.au Source: Supplied

Not a bad view from the rooftop of the Point Piper mansion. Picture: realestate.com.au

Not a bad view from the rooftop of the Point Piper mansion. Picture: realestate.com.au Source:Supplied

However, the Wolseley Road property has a rare 40m harbour frontage, boasts one of the suburbs few harbourfront tennis courts and sits in a prized location directly in front of the Sydney Harbour Bridge and Opera House. There’s also a deep water jetty, an entertainment level that features a kitchen and an indoor pool.

But the new owner won’t be hitting the ball around until 2022 when the deal is expected to be settled.

The four level building, which is known as Edgewater, was divided into two separate apartments by its owners, the co-founders of women’s fashion chain Katies, Joe Brender and the late Sam Moss. They bought the property as a concrete shell for $5m in 1985.

But history will be made once the deal is settled. The mansion will steal the record for being the most expensive housing amalgamation for a single buyer, with the new owner planning to convert it into one residence.

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