The prestige market was on fire during 2016. Here's the top 10.
The Point Piper trophy home of luxury car importer Neville “Croaky” Crichton has sold for more than $60 million, kick-starting a strong start to the year for the trophy home market.
The buyer’s identity remains shrouded in secrecy but it is tipped to be an overseas buyer given settlement remains contingent on approval from the Foreign Investment Review Board.
Crichton’s sale will serve as a boon to the trophy home market at a time when some of Australia’s most expensive real estate is for sale, including the mega-mansion of Aussie John Symond next door for well in excess of $100 million.
Neville Circhton’s Point Piper home has sold for more than $60 million. Photo: Brendan Esposito
The result puts it in the top three residential house sales nationally, topped by the $70 million record set by the Vaucluse mansion La Mer that was sold by James and Erica Packer in 2015.
The nearby waterfront mansion Altona is expected to retain its billing as the second highest house sale following its sale late last year for more than $60 million.
Crichton’s Tuscan-style residence, Portofino, made headlines in 2011 when it was rented by Microsoft co-founder Bill Gates and his wife Melanie at $25,000 a week.
The Point Piper trophy home is now Australia’s third-priciest pad. Photo: Brendan Esposito
The three-level residence has six bedrooms, a gym, private jetty and is set on 1500 square metres at the end of Wingadal Place cul-de-sac in a sheltered inlet with gun-barrel Harbour Bridge views.
Crichton bought the property in 1994 for $5.9 million from helicopter pilot Bruce Rose and his wife Pam and later built the existing mansion.
The Roses bought the property in 1962 from the Hordern family for 18,000 pounds.
Neville Crichton. Photo: Anna Kucera
When owned by the Rose family the property held the only private helipad in the eastern suburbs thanks to 7am-to-sunset helicopter landing rights.
Crichton and his girlfriend Nadi Hasandedic were regularly spotted on the look-out for a downsizer penthouse last year, and made an early offer of more than $20 million for the Finger Wharf penthouse of Russell Crowe.