A breathtaking oceanfront property in South Coogee is poised to make waves in the real estate market as it heads to auction next month.
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Located at 17-19 Seaside Parade, this architectural marvel comes with a hefty $16 million guide price, but industry insiders speculate it could surpass recent record-breaking sales in the area.
Potential Record-Breaker in South Coogee
The upcoming auction, scheduled for Saturday, October 19th, is being handled by Sydney Sotheby’s International Realty. If predictions hold true, this sale could eclipse some of South Coogee’s most notable recent transactions.
Earlier this year, two residences on Bunya Parade fetched $19 million, setting a high bar for the area. Additionally, the sale of tech guru Fred Schebesta’s oceanfront home, dubbed the “Crypto Castle,” for $16.85 million further exemplifies the booming luxury market in the region.
Property Highlights
Situated on a coveted oceanfront setting, this property boasts a rare 834 sqm double block. The architecturally exhilarating design is spread across four levels, offering jaw-dropping views of the Pacific Ocean. With six bedrooms and seven bathrooms, the home provides ample space for luxury living and entertaining.
One of the standout features is the home cinema with metallic cork walls, adding a touch of sophistication to movie nights. Multiple alfresco terraces provide perfect spots for outdoor relaxation and entertainment, while four carport spaces ensure plenty of room for vehicles.
The listing emphasises the property’s unique connection to nature. Residents can enjoy the privilege of watching migrating whales and playful dolphins from the comfort of their home, truly bringing nature to their doorstep.
Investment Potential
The property’s history suggests significant value appreciation over time. Last sold in 2008 for $4.8 million, its current guide price of $16 million represents a potential 233% increase over 15 years. This remarkable growth underscores the enduring appeal and investment potential of premium oceanfront properties in Sydney’s eastern suburbs.
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As the auction date approaches, all eyes will be on this South Coogee gem to see if it will set a new benchmark in the area’s luxury real estate market. The combination of its prime location, stunning design, and impressive features makes it a strong contender to break existing records and potentially redefine the upper echelons of South Coogee’s property market.
Published 25-September-2024
