If you think housing prices couldn’t get any crazier, take a seat.
A newly built home in Fairy Bower has sold for a reported $35 million. Clarke & Humel, who sold the property, is being tight-lipped about the final price but with the property listed at $35 million and the vendors being ‘happy’ with the final outcome, all signs point to price achieved.
The home at 44 Bower Street has uninterrupted views of Shelly Beach, Cabbage Tree Bay, Manly Beach and as far north as the Central Coast.
“It’s the first time in decades a brand new, architecturally designed home along that north-east cliff front has been on sale,” Cherie Humel, Principal at Clarke & Humel told Manly Observer on explaining the high price.
Clarke & Humel pitch themselves as specialising in high-end property sales, with Cherie as an architect and her husband, Michael Clarke, boasting the title of most experienced and highest selling agent on the Northern Beaches. This sale won’t hurt the status.
“There were five interested parties, both local and overseas, and it sold within two weeks on the market,” Cherie reveals.
“Though the price is confidential, the vendors are delighted with the outcome and the buyers are ecstatic with their amazing new home.”
Unfortunately, the names of the buyers have not been released.
News.com.au reported that the five-bedroom, four-bathroom home was owned by Justine Acret, wife of Chris Acret, the co-founder of mortgage broker Smartline which was bought by REA in 2017 as part of a $67 million deal.
Acret bought the leasehold land (most of Bower St is owned by the Catholic Church) in 2018 for $14 million. Pocket change, really. She commissioned Blanchfield Architects for the open plan and high ceiling design and Dangar Barin Smith for the landscape gardens.
Back in 1992, the home was purchased for a measly $715,000.
While the sale beat the previous street record held by 77 Bower Street (which sold for a reported $25 million last year), it is only awarded a red ribbon as the second most expensive home on the Northern Beaches.
The blue ribbon goes to Anakela at 56-58 Iluka Road, Palm Beach which was sold in 2022 for $40 million to Ian Malouf. Anakela is Malouf’s holiday home. Let that just sink in.
Malouf is titled as Australia’s richest garbo after selling Dial-a-Dump in 2018 for $578 million to Bingo Industries. Anakela is the third Palm Beach purchase for Malouf, who also owns the cheap neighbouring homes on the same street (one for $18.6 million and the other for $20 million). Those are just his homes on the Northern Beaches, this article would be far too long if we listed the others.
Meanwhile, a property in Avalon Beach is eyeing off Anakela’s record. The home at 6 Cabarita Road hit the market in 2022 with a reported $50 million price tag. However, the price range is now between $40 to $45 million.
If you aren’t a fan of the bends… 11 Oyama Avenue in Manly is on sale for a reported $25 million. It’s listed as “a developer’s dream”, a real doer-upper…
