Eastern seaboard mansions and holiday homes are still in demand

4 years ago admin Comments Off on Eastern seaboard mansions and holiday homes are still in demand

Mansions and holiday houses across Sydney’s Palm Beach and Melbourne’s Toorak are still changing hands despite agents ­lamenting the lack of good quality listings on the eastern seaboard.

Political wife Jill Wran sold her redundant Palm Beach holiday house for $6.95 million to eastern suburbs property developer ­Andrew Wiesener.

The wife of late NSW premier Neville Wran had owned the beachfront three-bedroom and two-bathroom property in Waratah Road, Palm Beach, since 2009 when she purchased it for $6m, CoreLogic records show.

Mr Wiesener, who also owns a property in Sydney’s Watsons Bay and is the head of CrownLand Developments, made the purchase through LJ Hooker’s David Edwards, who declined to comment.

The Hobart-born Mr Wiesener purchased the 1930-built property on more than 600sq m through his company Rothmans Pty Ltd. He did not return calls yesterday.

In Melbourne, there were several large sales in Toorak last week with three mansions selling for hefty amounts.

A lavish six-bedroom mansion in Hill Street, Toorak, owned by Lisa Jane Blode, sold for about $15m to an Asian buyer through Kay & Burton joint managing director Michael Gibson and associate director Nicole Gleeson during the week. The property features resort-style grounds covering 1844sq m and was sold to downsize.

“You could move in and do nothing; there’s a pool and an amazing balance of proportion with interiors by the late Stuart Rattle,” Ms Gleeson said.

In a separate deal, Kay & Burton’s chairman Gerald Delany and Mr Gibson sold a five-bedroom Cross Street, Toorak, mansion at a private auction for just under $8m, sources said.

The vendor of the Victorian mansion, which is set on 1050sq m, was Future Fund board member Michael Wachtel and his photographer wife Linda Wachtel.

The buyer of the Cross Street property was Fraser Wilkinson, of Wilkinson Electronic Document Solutions.

Another mansion in Heymount Close, Toorak, owned by Paula Hansky, is close to selling to a Chinese buyer for more than $14m through Mr Gibson. The property features four bedrooms. There were two parties competing during the private auction.

“These are high-quality houses and they are being sought by people who want to live in those localities, the confidence in those markets is as strong as I have ever seen it. There is a shortage of properties, there is a bigger demand than there is supply,” Mr Delany said.

Reader comments on this site are moderated before publication to promote lively and civil debate. We encourage your comments but submitting one does not guarantee publication. We publish hundreds of comments daily, and if a comment is rejected it is likely because it does not meet with our comment guidelines, which you can read here. No correspondence will be entered into if a comment is declined.