Australia’s Most Expensive Residential Properties

The ‘Trophy Home’ market continues its ascent.

By Terry Christodoulou 24/02/2022

The ascendance of prime residential property in Australia is reaching new heights, with new definitions of the term ‘trophy home’ being formed with every record-breaking sale. As new forms of luxury real estate and old-world mansions continue to draw intrigue from the international and local buyers alike, here, we’ve compiled the most expensive residential sales in Australian history.

One Sydney Harbour, Sydney, $140 Million

A deal alleged to be worth more than $140 million is the country’s most expensive residence. The fee is said to have bought the top three floors of the in-construction Tower 1 development of One Sydney Harbour at Barangaroo South. The purchase of both the two-storey penthouse and the sub-penthouse below of the Renzo Piano-designed building was said to be by a local who is expected to make the penthouse their home when completed in late 2023.

 

Fairwater, Point Piper, $100 million

In 2018, Australian tech-billionaire Mike Cannon-Brookes and his wife Annie bought what was at the time Australia’s most expensive house, Fairwater. The historic purchase ended more than a century of Fairfax family ownership. With the sale of the 1.12-hectare estate (the largest privately held property on Sydney Harbour), exchanging in just over two weeks for $100 million. The home was last traded in1901 for £5350 by Sir John Fairfax.

 

Edgewater, Point Piper $95 million

In 2020, the Wolseley Road property in Sydney’s blue-ribbon locale of Point Piper sold for $95 million, becoming the second most expensive house sale on record. The property, known as ‘Edgewater’ has a rare 40-metre harbour frontage, directly in front of the Harbour Bridge and Sydney Opera House.

 

Elaine, Point Piper, $71 million

Joining this list is fellow  Atlassian co-founder and billionaire Scott Farquhar, with yet another Fairfax family estate, Elaine. The historic property, which boasts 6986sqm in Sydney’s most expensive enclave features seven bedrooms and five bathrooms on Seven Shillings Beach.  Previously the home had been owned by the Fairfax family since 1891.

 

La Mer, Vaucluse, $70 million

James Packer’s off-market exchange for the vast, six-storey monolith in 2015 set an Australian house price record at the time. Set across 3345sqm, with views of Sydney Harbour, La Mer was sold to Dr Chau Chak Wing — owner of Chinese property development company Kingold Group — and features a glassed -in garden area, home gym, workout room, cinema with space or 20 people and a garage for 20 cars.

Phoenix Acres, Vaucluse, $65.25 million

The grand proportions of Phoenix Acres, Vaucluse is typified by its 81-metre-wide water frontage attached to a 3731sqm parcel with 6-bedroom, 6-bathrooms and a triple garage. Other luxurious amenities include the lavish master suite, tennis court, resort-style pools and grand dining room with harbour view terraces. The property was sold in 2017 to hotel mogul Dr Jerry Schwartz.

Ganeden, Vaucluse, $62 million

Ganedan, Point Piper

Rounding out the list is corporate lawyer John Landerer’s Vaucluse mansion, Ganedan, selling for more than $62 million in 2022. The exact figure on the sale will be left to settlement, with the home finally finding a new owner after three years on the market. The property, which is built on a consolidated site from three houses between Wentworth Road and Vaucluse Road also the second most expensive non-waterfront sale, following La Mer, further up this list.

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Welcome to Our New Winter 2024 Issue

Critical mass at Watches & Wonders fair in Geneva, a connoisseur’s guide to whisky, Naomi Campbell and more.

By Horacio Silva 02/07/2024

Time is of the essence in our new Winter 2024 issue. We showcase the highlights from the recent Watches & Wonders fair in Geneva, including the best in men’s and women’s haute horology and get to know the young social media stars shaking up the watch scene.

Every minute counts as we discover everything there is to know about whisky, sing the praises of timeless Naomi Campbell, and turn back the clock with a visit to the world’s best skin clinic for men.

Elsewhere, we dawdle in Double Bay, the exclusive Eastern Suburbs enclave that is undergoing a renaissance, and spend time in a new Sydney parfumerie and a private gallery advising canny art investors.

On the travel front, we make haste while the sun shines and head to Rajasthan and Paris, before whiling away the hours in Mexico and Australia’s first truly private island. After all, time is the ultimate luxury. Make the most of it while you can.

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Many Happy Returns

Seeking bang for your artwork bucks? A new private gallery in Sydney is here to help investors.

By Belinda Aucott-christie 24/05/2024

When the Art Basel fair opens in Switzerland in June, it will do so with a certain swagger. Art currently tops Knight Frank’s Luxury Investment Index, with prices rising by 11 percent in 2023; by comparison, the values of rare whisky, classic cars, handbags and furniture fell. Transaction volumes are also on an upward trajectory; 39.4 million buys were logged globally last year, with figures more pronounced at the “affordable” end of the scale.

That doesn’t mean the action has stalled at the pinnacle of the market—far from it. In May at Christie’s in New York, Andy Warhol’s Flowers (1964), a huge 208 cm by 208 cm fluorescent silkscreen, fetched US$30.5 million (around $46 million), while Georgia O’Keeffe’s close-up oil painting Red Poppy (1928) secured US$14 million (around $21 million). Spring auction sales across the metropolis approached US$1.4 billion (around $2.1 billion), confirming the Big Apple’s reputation as the city whose art market never sleeps. 

In this context, the importance of how to invest wisely and ensure the sound provenance of your purchase comes into even sharper focus. Enter Jesse-Jack De Deyne and Boris Cornelissen, whose A Secondary Eye gallery functions are both a private space with rotating exhibitions, and somewhere serious investors can buy and sell with confidence.

Cieran Murphy

“We offer access to some of the finest works entering the secondary market in Australia and operate with a stringent provenance framework in place,” says De Deyne from the company’s top-floor space overlooking leafy Queen Street in Sydney’s Woollahra.

The gallery launched in May with a presentation of rare works by Rover Thomas, the late East Kimberley artist who represented Australia at the 1990 Venice Biennale—which will not come as a surprise to those in-the-know, as De Deyne specialises in Australian Indigenous art and comes to Sydney with a background as a director at Maningrida Arts & Culture in Arnhem Land, Northern Territory. Cornelissen, meanwhile, is a former contemporary art specialist from Sotheby’s in London and Hong Kong.

Rover Thomas, Desert Meeting Place, 1994 natural earth pigments on canvas

“We are most effective when a prospective client comes to us with a specific artwork in mind,” explains De Deyne. “They may have recently been to Canberra to visit the highly regarded exhibition of Emily Kame Kngwarreye at the National Gallery of Australia and there is a specific period of the artist that they are drawn to. Through our contacts, we may be able to help source available related works that would not necessarily appear at auction.”

Though A Secondary Eye was founded in 2020 in Brisbane, De Denye says the larger pool of collectors in Sydney drew him and his partner south. The new gallery’s private aspect seems to be a key selling point for the duo, who prize discretion above all else.

“Whereas auctions are publicly advertised, a private dealer can offer a work discreetly to a handful of clients without over-exposing it,” says De Denye. “And we can also present works in a more considered way through curated, high-quality exhibitions that tell the story of each work.”

Follow A Secondary Eye here for future exhibitions. 

 

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Aston Martin Just Introduced the $3.75 mil Valiant. Here’s Everything We Know.

Limited to 38 examples, the marque’s answer to a challenge from F1’s Fernando Alonso pairs a 734 hp V-12 engine with a manual transmission.

By Sean Evans 03/07/2024

Last summer, when Aston Martin unveiled the Valour—a $1 million-plus V-12 model with a manual transmission and limited to 110 examples—Aston’s Formula 1 driver Fernando Alonso was intrigued. Yet the former F1 World Champion challenged the British automaker’s bespoke division, Q by Aston Martin, with a commission that called for the Valour’s comely design but would be built as a lighter, more muscular, and more track-focused expression. The result was the extremely lithe and powerful Valiant.

Priced at what Aston Martin cites as “upwards of £2 million (more than $3.75 million AUD), the Valiant is, effectively, what you’d get if Alonso was allowed to design a homologated race car for the road. The Valiant’s output is owed to the same 5.2-litre, twin-turbo V-12 engine given to the Valour, though engineers have recalibrated it to squeeze out an additional 21.6 kW, bringing the total to 547 kW, while both models deliver 6,400 kgm of torque. And the six-speed gearbox employs a manual and mechanical limited-slip differential.

The 734 hp Aston Martin Valiant. Aston Martin Lagonda Global Holdings PLC

We recently got a sneak peek at the full carbon-bodied Valiant at Aston’s New York City showroom, and a number of the design flourishes leap out: those 21-inch forged magnesium wheels with carbon aero discs (inspired by the 1980 RHAM/1 “Muncher” Le Mans car); the Kamm tail, featuring that handsome ducktail sweeping up below the fixed wing; the quad-exit titanium exhaust; and the removal of the sides of the transmission tunnel in order to expose the linkages before rising to a gated shifter.

Only 38 examples of the Valiant will be made, and each has already been spoken for. Aston Martin Lagonda Global Holdings PLC

What’s happening within the chassis is equally artful. Take the mechanical limited-slip diff, selected over an e-diff due to its positive throttle engagement out of corners. “We carefully focused on the ramp angles of the diff to give optimum balance for stability on turn-in and corner exit,” says Simon Newton, Aston Martin’s director of vehicle dynamics. And no, it doesn’t have rev-match; drivers will, according to Newton, get “the full experience of working harder.”

The interior features carbon-fiber trim, a steering wheel developed specifically for the model, and a skeletonized transmission tunnel exposing the linkages for the gated shifter. Aston Martin Lagonda Global Holdings PLC

Then there are the Multimatic Adaptive Spool Valve (ASV) dampers, largely reserved for race cars like the Ford GT. The ASV units afford higher levels of response, simultaneously adjusting each corner unit in less than six milliseconds for optimal performance and handling. Newton cites the integration of the ASV dampers as the largest engineering challenge of the project, adding that now “it’s part of the fabric of the car.”

The real validation, though, will come when Alonso first hops into that custom Recaro seat and hurls the Valiant around an F1 circuit. “Fernando will drive it at Silverstone, and then we’d like to give him other environments, such as Nardò Ring [in Italy] and some tracks in southern Spain,” says Newton, who mentions that Alonso will also have road time in the test mule since “working on the road as well is a key part of the Valiant.” Newton is anticipating feedback around what Alonso loves most about a car, “a good front end with good turn-in response.”

The Recaro Podium seats have been customized to the car. Aston Martin Lagonda Global Holdings PLC

The fact that all 38 examples of the Valiant are already accounted for is no surprise. “A V-12 manual is increasingly rare, but demand is there,” acknowledges Alex Long, the marque’s head of product and marketing strategy. “In pairing [a manual] with our V-12, it brings alive the engine; you feel the torque in a completely different way than when a torque converter smooths it out for you.”

The Valiant, with Fernando Alonso behind the wheel, will be entered in the 2024 Goodwood Festival of Speed next month. Aston Martin Lagonda Global Holdings PLC

Long admits that developing this new V-12 power plant, which Aston will use through 2030, has been a “massive investment on our part, one we sweated over on whether to double down on,” but believes the team chose wisely, opining that “EV sports-car demand isn’t there.” More V-12 manuals will be emerging from Gaydon, per Long, though they will be in very restricted volumes.

As for the Valiant, the public will get an opportunity to see (and hear) it sprint up the hill at the 2024 Goodwood Festival of Speed, where it will be piloted by Alonso, of course. Deliveries are scheduled to begin in the fall.

Find out more about Aston Martin’s plans for the Goodwood Festival of Speed.

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Watches & Wonders 2024 Showcase: Jaeger-LeCoultre

New offerings from the estimable Swiss masters of complications.

By Josh Bozin 01/07/2024

If you were wondering whether Jaeger-LeCoultre could top its 2023 Reverso novelties—yes, we’re still dreaming about the Reverso Tribute Chronograph—you’d be wrong to doubt the 190-year-old watchmaker from the Vallée de Joux.

Okay, so we didn’t see any collector favourites in Reverso or Polaris models, but the brand did put on quite a show with four new reveals—the Duometre Heliotourbillon Perpetual, Duometre Quantieme Lunaire, Master Ultra Thin Perpetual Calendar, and Duometre Chronograph Moon—highlighting its more intricate, high horology skills as it sets out its stall for 2024.

The latter was one of the standouts of the fair. Unveiled in 2007 as a chronograph, the new piece has been reimagined as a celestial complication. Available in platinum, and pink gold, the new Duometre iterations come with an entirely new calibre, dial and case, and is an elegant expression of the company’s watchmaking ethos.

Jaeger-Lecoultre Duometre Chronograph Moon

The Calibre 391 introduces a fully integrated in-house movement that utilises a manually wound mono-pusher chronograph, a moonphase and night-day complications, as well as two power reserve indicators and a seconde foudroyante (flying seconds) display. Activate the mono-pusher and the hand runs to a remarkably precise one sixth of a second.

The new Master Ultra Thin Perpetual Calendar, on the other hand, will appease traditionalists with a refreshing update to its case and dial design. We get a new pink gold model with a midnight-blue sunray dial—as well as a significant increase in power reserve; 70 hours, to be exact.

jaeger-lecoultre.com

Read more about this year’s Watches & Wonders exhibition at robbreport.com.au

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Scent Items

Sydney’s new fragrance shrine is packed with olfactory messages in a bottle.

By Horacio Silva 01/07/2024

Anyone on tick tock knows that today’s status-obsessed youth is under the spell of fine fragrance. The more obscure, the better. Junior voluptuaries these days are bewitched by esoteric trails like Xerjoff Erba Pura and Creed Aventus. Not surprisingly, there has been an uptick in the theft of rare and expensive perfumes, with many department stores keeping them locked away. Libertine, a new temple to haute parfumerie in the stylish heart of Sydney’s Paddington, would benefit from hiring security guards. A boon to local devotees and anyone looking to broaden their scent IQ, the place carries Xerjoff and Creed, and a slew of other cult brands, including Amouage, Roja, Memo, Parfums de Marly and Mizensir. 

Libertine Parfumerie pays design homage to classical pharmacies. PHOTO: Anson Smart

It’s enough to drive a perfume apostle to distraction. Created by interior designer du jour Tamsin Johnson, the unisex store recalls classical pharmacies down to the bespoke timber cabinetry and brushed metal railings. Stained oak French chiffoniers and marble plinths teem with flowers, candles, room diffusers and, of course, the world’s finest perfumes. 

A lush courtyard offers respite from the perfumed splendour, and opens onto a section in the back that serves as an event space and stocks limited-edition fragrances (some selling for up to $3,500) alongside a selection of curios and homewares.

Owner Nick Smart wanted “to create a space that hasn’t been seen in Australian beauty retail”. With his new 200 m² flagship, Smart has exceeded his ambition, creating an unrivalled olfactory adventure that is so dizzying, it occasionally resembles overeating chocolate. Or spending too many hours on TikTok.

Libertine Parfumerie, shop 6/134-140 Oxford Street, Paddington, NSW, is open from 10.00 am–5.30 pm, seven days a week.

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