The home known as ‘Gaelforce’ has sold two months after it was listed with a $19.5 million price guide and is perhaps one of the best deep waterfront spots in Palm Beach, Sydney.
Selling agent Peter Robinson, of LJ Hooker Palm Beach, would not give an exact price but said the property sold for around its price guide of $19.5 million.
Robinson said interest was high for a property with such a price tag.
“We had 28 groups inspect it, eight groups take a contract and three groups who offered once we got to the closing of the expression of interest, for a property of that level, it is very strong,” Robinson told The Market Herald Fancy.
“We have stronger demand in Palm Beach and Whale Beach than we have seen for a long time, it comes down to the fact that a lot of people, Sydney based, want a weekender that is close enough to home but feels far away, and that is what Palm Beach is about.”
The owners, London-based Gael and Francesco Boglione rented out the property as a holiday spot, which during the peak period would be rented out for $35,000 a week.
When the couple discovered the 1940’s Spanish mission-style abode in 2006, they purchased it for $5.5 million and got to work restoring the property while keeping its original ambience and atmosphere intact.
995 Barrenjoey Road, Palm Beach enjoys seven bedrooms, seven bathrooms and its own private jetty, boat shed, slipway and waterfront pool.
From the design and construction to the built out and decor, this property is an ode to peaceful and relaxing waterfront living, and it was sold almost entirely.
The top-floor master king bedroom has spectacular views, an ensuite bathroom with light fixtures reclaimed from an Italian cinema, a huge walk-in closet, stunning artwork, and its own private terrace.
Another standout, ‘Tree House’ bedroom is a beautiful refuge for guests or family and is nestled among the trees with a private balcony and a bath overlooking Pittwater.
The bathrooms are a blend of reconditioned antiques and top-of-the-line bathware imported from England, with fixtures from Catchpole & Rye.
Rounding off the abode is a media room with a custom made sofa bed and ensuite, an expansive open plan kitchen with top of the line European appliances and an office.
A reevaluation of life after the brunt of the COVID-19 pandemic in 2020 has also shifted people’s expectations, and Robinson said more people are looking to live in Palm Beach and the surrounding areas as they can now work from home.
“There has been a shift of thinking to enjoy your lifestyle then have the convenience of being close to a city,” he said.
“I have been up here 18 years selling and this is the lowest amount of supply we have had at any point in that time, for the same reason people want to buy here they don’t want to sell.”