Sydney’s ultimate beach home goes on sale for a record $50m: Cabarita Road Avalon Beach luxury property listed

uxury Avalon Beach estate “Celeste” has hit the prestige market just in time for Christmas with price expectations of around $50 million.

The north-facing, five-bedroom property has a 30-metre deep-water Pittwater frontage and views from the mouth of the Hawkesbury River to Palm Beach and beyond to Lion Island.Listing agent David Edwards, of LJ Hooker Palm Beach, says he’s never seen a prestige property of this calibre, noting the combined aspect, view, proportions and finish.

Mr Edwards said the property was gutted and rebuilt in the four-year renovation that cost more than $30 million. Mr Burton said the Yazbeks enlisted Sydney’s best subcontractors and sourced premium materials. “The level of detail in this house is pretty much unrivalled in anything I’ve worked on,” he said.

The property, which the yachting family purchased in 2002 for about $20 million, served as the residence of family patriarch and Australian business heavyweight Bob Oatley and second wife Val until his death in 2016. It remains in the family.If the $50 million price for Celeste is achieved, it would far outstrip the current northern beaches record offor Palm Beach property Beau Site Sur Mer, which sold to WiseTech billionaire and former AC/DC guitar technician Richard White.

Source: News Formal (newsformal.com)

Make it $500m. Equally as stupid. Can’t wait for this piece of Australian land to be sold off to foreign investors. Why don’t we have foreign ownership laws again?

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