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| 60 Admiralty Drive, Paradise Waters |
A PARADISE Waters mansion in Australian appears set to smash price records after being placed under contract for a rumoured $8.7 million.
The stealth sale of 60 Admiralty Drive was confirmed yesterday by selling agent Nick Cole of Lucy Cole Prestige Properties.
The off-market deal, believed to involve an Asian family, may rewrite record books and could signal a recovery in the high-end property market.
While Mr Cole would not give details, he confirmed the price trumped previous sales records for Paradise Waters.
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| 60 Admiralty Drive, Paradise Waters |
The previous record was sale of $8 million set in 2004.
RP Data records show 60 Admiralty Drive sat quietly on the market for 701 days after it was first listed in April, 2012 with a $10.2 million price tag.
“It was listed originally for around $10 million and it sold in that vicinity. I’d consider it’s a record price for the area,” Mr Cole said.
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| 60 Admiralty Drive, Paradise Waters |
“The negotiations were very quick. The buyer recognised the quality and the position and wanted to snare the opportunity,” Mr Cole said.
Set on a 1094sq m riverfront parcel, the stunning residence rises four levels on a sought-after point position.
The 1449sq m floorplan is executed with luxury materials and comprises five bedrooms with ensuites, a home theatre and a large study. It has a riverfront pool, a 10-car garage, an internal lift, a pontoon and a wine cellar.
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| 60 Admiralty Drive, Paradise Waters |
The original brown brick house was bought for $2.52 million in March, 2003.
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