A Vaucluse mansion owned by a household behind a $100m resort empire has simply hit the market and it’s described as “one in all Sydney’s grandest residences with iconic vews”.
If the house achieves its $30m worth information, it’s set to smash the file for an Australian residence offered at public sale.
And the present file holder is simply down the road — when it went below the hammer in 2020 it was in such demand that it offered $10.46m over the reserve to realize $24.6m.
This week’s itemizing, ‘Panorama’, is a four-bedroom residence with-wet edge pool and spa on a 1070sqm block at 48 Vaucluse Rd, listed for personal public sale on June 14 by way of Bradfield BadgerFox brokers Alex George and Peter Leipnik.
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It’s been has been the house of the Balagiannis household — whose resort steady contains websites within the Sydney CBD equivalent to Mr B’s, Albion Place Resort and Chamberlain Resort and lots of others throughout Australia — for almost 30 years.
“It has unimaginable scale and is the closest personal residence to Strickland Home — houses in that part of Vaucluse Rd, backing onto Carrara Rd, simply don’t come up,” George mentioned.
The design of the house appears to be like beautiful — with its dome paying homage to a spaceship on the entrance and people ceiling heights extra like a cathedral on the rear.
And it’s been named Panorama for an excellent purpose — there are panoramic views from Rose Bay over the town skyline, Opera Home and Harbour Bridge.
The earlier public sale file for a home was $24.6m, when 42 Vaucluse Rd, offered in 2020 by way of Michael Pallier of Sotheby’s.
Property data present Reserve Resorts boss Nick Balagiannis transferred his half share of the possession of the beautiful residence at No.48 Vaucluse Rd to his spouse, Susan Balagiannis, in April.
They’d purchased the property for $3.21m in 1994 however have since rebuilt.
In 2020, the Balagiannis household had been on the centre of a court docket row, through which Nick ousted spouse Susan, daughters Mary and Angelique and son-in-law Dimitri Kentrotis off the corporate board in June of that 12 months.
A Wentworth Courier report on the time featured Justice of the Peace, Ross Hudson, recapping the household feud: “In abstract there’s unhealthy blood, a $21m debt and a $60m sale of property they didn’t agree on,” he mentioned.
One household’s misfortune appears to be like to be the consumers of this property’s acquire: attaining an unimaginable residence with iconic views in probably the greatest spots in Vaucluse.
The agent that offered it to the household again in 1994, the veteran agent Peter Anderson, remembers the property fondly. “It’s probably the greatest areas in Vaucluse — proper subsequent to the park and people unimaginable views!”
He says that $3.21m was thought of an enormous worth on the time.
How issues change, eh.
The $3m of 30 years in the past is at the moment’s $30m.