In 2018 Mike Cannon-Brookes made property headlines by purchasing the Fairwater Estate in Double Bay for $100 million. It was thought the steep price tag wouldn’t be matched any time soon. What followed was a sudden and intense wave of multi-million dollar home sales, most concentrated in Sydney’s eastern suburbs.
What are the highest-selling Sydney properties?
So what do these big spenders get for all that cash? Here’s a look at the 5 most expensive properties sold recently in Sydney.
#1. One Sydney Harbour, Sydney
The current top of the charts for Sydney's most expensive property is the penthouse atop Tower 1 at One Sydney Harbour Barangaroo South. The tower is one of three brand-new and architecturally stunning residential masterpieces that ooze luxury and opulence.
As well as nine bedrooms the new owner will have exclusive access to the top three levels of the tallest of the three towers with incredible views across Sydney Harbour combining two properties early (the two-story penthouse and single-story sub-level penthouse) to secure the best seat in the harbour for a tidy $140 million. Work is not expected to be completed on the towers until late 2023.
#2. Edgewater, Point Piper
The waterfront address at 92 Wolseley Rd, Point Piper was purchased for $95 million in 2020.
The property was previously purchased for $5 million in 1985 by Katies co-founders, Joseph Brender and Sam Moss. At the time there was no established building on the site. They then found the best architect available to build two adjoined strata residences with an elaborate shared entertainment level, including an indoor pool and stunning kitchen.
The unknown buyer of 2020 is said to have paid $47.5 million for each of the two homes with a plan to bring the complex together for a grand mansion.
#3. Elaine, Point Piper
Previously owned by the Fairfax family, the marina villa Elaine was put on the market for the first time since the Fairfax purchase in 1891. The historic Elaine property fits seven bedrooms and five bathrooms into the 6986 sqm of land, stretching down picturesque Seven Shillings Beach.
Like most mansions in Sydney at the time, it took quite a few years to find the right owner with a sale of $71 million eventually going to billionaire Atlassian co-founder Scott Farquhar and his family.
In days gone by it wasn’t unusual to see property listings over $25 million sit on the market for five years or more, not these days though. Sydney is on trend, particularly waterfront properties so you’ll get a fast sale, even in a cooler market. Elaine’s next-door neighbours bought the property in just over two weeks for $100 million.
#4. Phoenix Acres, Vaucluse
Phoenix Acres is all about the waterfront. Boasting an incredible 81-metre-wide water frontage that looks like it comes straight from a holiday brochure, you also get commanding Harbour Bridge and city skyline views along with a spectacular 3731 sqm parcel of land.
The six-bed, six-bath wonder mansion has everything you need to settle in and live, work and play. The only reason this property is not higher up the list is that it was sold in 2017, cementing it well behind other listings at $65.25 million. If the owners were willing to let it go now, chances are we’d see it much higher up in the top 5 most expensive properties in Sydney.
#5. The Boyd Residence, Sydney
If you think apartments are the cheaper option, think again. The award-winning Boyd Residence penthouse was sold for $60 million in 2022. The penthouse provides oodles of space, spread across three levels with features you probably wouldn’t think to ask for, like the private elevator that opens to a glass wall with built-in champagne storage.
The stunning abode has collected accolades for both design and architectural excellence and offers a mansion-sized lifestyle in the sky.
With more multimillionaires now than ever before these high-profile properties are going to retain a lot of their value and remain a desirable trophy for celebrities and international billionaires looking to rub shoulders with the most exclusive property owners in Australia. Find out how much your property is worth today.
