The beach shack on secures the beachfront’s reputation as the state’s premier address north of Sydney,despite being an almost eight-hour drive from the CBD.
McGrath’s Will Phillips would not reveal the exact sale figure,confirming only that it topped the 2020 high set when bought on the prestigious strip for $22 million from recruitment industry boss Geoff Morgan and his wife Ros.
Local sources are tipping a result of more than $22.5 million.
It is one of only 12 houses on the cul-de-sac fronting Wategos Beach,and records show it comes 25 years after it was bought by retired graziers John and Ilone Small.
It last traded in 1997 for $1.225 million when sold by the family of the late Eric Gilchrist,the grandfather to near neighbour and.
The Marine Parade house at Byron Bay sold on the weekend for more than $22.5 million.Domain
The Smalls’ house sale was closely observed by property watchers as a test of how the local prestige market would fare in the face of subdued growth on the North Coast last year. Phillips was quietly offering it to buyers late last year,with his Sydney-based brother Alexander Phillips on the listing,but it formally hit the market in January.
Values soared in the regional holiday hot spot after the pandemic hit in 2020 recording double-digit gains that out-paced even Sydney’s market boom,and the median house price in Byron has soared 61.6 per cent over the past five years.
Much of that rise took place in the first 12 months after the pandemic.
The three-bedroom house sits on a land size of 790 square metres.Domain
However,Domain figures show the North Coast’s broader housing market took a downwards turn last year. The median house price in Byron Bay now sits at $2.08 million,having fallen 17.8 per cent in the year to December compared to the prior year.
Meanwhile,Byron Bay’s exclusive top-end market has continued its upwards trajectory. In October last year the North Coast record was reset at $26 million for a hinterland property in Suffolk Park that was bought by a beneficial trust linked to.
The buyer of the Small family’s three-bedroom,three-bathroom house remains unknown,but they will join a who’s who of corporate identities on Wategos Beach. Among them are Deke Miskin,AfterPay co-founder Anthony Eisen,coal tycoon David Knappick,media man Antony Catalano,former Swisse Vitamins owner Stephen Ring and art collector Steve Nasteski.
There are 12 houses (and two hotels) that front Wategos Beach on Marine Parade,one of which was sold by John and Ilone Small (indicated).Supplied