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Is this Australia’s most expensive house?

38B The Crescent, Vaucluse is shooting for Australia’s record price.
38B The Crescent, Vaucluse is shooting for Australia’s record price.

THE owner of a Vaucluse waterfront mansion says his home is both "magical and irreplaceable" and his selling agents say it's set to break the $71 million price record.

The extraordinary 3731 sqm property at 38B The Crescent known as Phoenix Acres has six bedrooms, six bathrooms, a pool and a championship tennis court, with an 81 metre wide water frontage with boathouse and jetty.

The resort-like pool at 38B The Crescent, Vaucluse.
The resort-like pool at 38B The Crescent, Vaucluse.

The palatial residence has Harbour Bridge and city skyline views ... and even has its own
English pub!

"It's more than just a waterside home," Singaporean businessman Mr C K Ow said.

"It's a seaside resort self-sufficient with all country club amenities.

"Sadly, I do not spend sufficient time there to enjoy this jewel of a property as my travels take me to many other far reaches of the world."

The entrance to 38B The Crescent, Vaucluse.
The entrance to 38B The Crescent, Vaucluse.

Ray White Double Bay director Craig Pontey said Mr Ow's home is better than the Double Bay mansion Elaine, which set a national record in April when it sold to the 37-year-old co-founder of the software company Atlassian, Scott Farquhar, for $71 million.

"Elaine is on a beautiful piece of land but it needs some work.

"It not on the waterfront, it's beachfront.

"And then there's the Packer compound at 40 Wentworth Rd, Vaucluse, which sold in 2015 for $70 million and is also not a waterfront.

38B The Crescent, Vaucluse. NSW Real Estate.
38B The Crescent, Vaucluse. NSW Real Estate.

"What we have on offer at 38B The Crescent is a true deep waterfront access home on nearly an acre of land in Vaucluse so we are expecting it could to be the next Australian record."

Set on The Crescent, next door to the waterfront estate of Johnny Kahlbetzer, the site was a public park with a wharf and ferry service to Circular Quay before publisher Ezra Norton built his waterfront mansion, Albemere, on the site in 1966.

The residence was refurbished eight years ago with lavish marble and parquetry finishes.

He said there was nothing else like it on the market.

One of the lavish bathrooms at 38b The Crescent, Vaucluse.
One of the lavish bathrooms at 38b The Crescent, Vaucluse.

"It is also nearly impossible to get an acre of land around the harbour in Sydney," Mr Pontey said.

"There's only a handful of homes like it both on the lower north shore and eastern suburbs with that much land."

Mr C K Ow, who is the chairman and chief executive officer of Stamford Land Corporation Limited which owns and manages luxury hotels, commercial buildings and shopping centres in Australia and New Zealand, bought the estate through Mr Pontey 25 years ago.

Mr Ow was awarded an Order of Australia medal by former Australian Prime Minister Julia Gillard in 2011. Picture: Sam Mooy
Mr Ow was awarded an Order of Australia medal by former Australian Prime Minister Julia Gillard in 2011. Picture: Sam Mooy

"It is very hard to get anything else of this scale, grandeur and with such high ceilings, plus a championship tennis court and the waterfront facilities which are the biggest bonus," Mr Pontey said.

"Not to mention a full English pub too."

Topics:  editors picks property


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