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The four-bedroom, two-bathroom property was quietly shopped around off-market by David Malouf of Highland Property Double Bay.

While an $11 million price tag is typical for Vaucluse, it surpasses the previous record for a semi in the harbourside enclave, set last year when 4a Greycliffe Avenue sold for around $10 million.

The Old South Head Road semi occupies half of a 684-square-meter block, featuring a large terrace with views of the city skyline and Sydney Harbour Bridge.

Malouf also handled another headline sale recently — 5a Vaucluse Road fetched $17.3 million at auction, defying the current cooling conditions in Sydney’s high-end market. The renovated 1960s home attracted six registered bidders, with the opening bid coming in at $14.5 million before the hammer fell over $2 million above the $15 million price guide.

According to CoreLogic research director Tim Lawless, properties in the top 25% have shown the slowest growth over the past year as borrowing capacity and affordability impacted demand.

The Vaucluse Road property, previously featured as a “House of the Week,” is in original mid-century condition with multiple living areas, three bedrooms, a pool, sundeck, and courtyard.

Vendors Nagi and Kate Mikhail, who ran the World News newsagency in Darling Harbour, purchased it for $3.6 million in 2013 along with DA-approved plans by local architect Phillip Mathieson to modernise and enhance harbour views.

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If executed, the unique DA would create a 502-square-meter grand family home — a rarity, according to Malouf, as it would typically require a 1,000-square-meter block under current guidelines. The four-bedroom design includes an infinity pool, wine cellar, elevator, and security system with sweeping views of Sydney’s iconic landmarks.

Published 10-June-2024

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