The ceiling for Sydney’s most expensive homes leaped into the stratosphere over the last couple of years, with the billionaire likes of Mike Cannon-Brookes and Scott Farquhar spending huge on Point Piper properties. Another rich-lister has just joined the trophy home party in recent months, with fashion empire builder Nicky Zimmermann purchasing 21 Coolong Road, Vaucluse, for what is understood to be a $60 million figure.
The remarkable beachfront property was on the market for 627 days according to Domain, but despite its lengthy time on the market, a title search on the property shows it traded hands in late October this year with Zimmermann and her husband Chris Olliver as the buyer. While the final price of the sale hasn’t been publicly disclosed, it’s understood that the original asking price of $60 million was achieved.
Previously owned by the successful Bain & Co investment banker Garrick Hawkins and his wife Evelyn, the couple originally bought the property for $3.55 million in 1987 from the late industrialist Sir James Kirby. Shortly after the Hawkins family purchased the property, a DA to demolish the original residence was lodged to make way for the Andre Porebski-designed home that stands to this day.
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Represented by Ken Jacobs of Christie’s International Real Estate, residence at 21 Coolong Road, Vaucluse, sits on a palatial 1,667sqm block, of which the mansion has claimed 1,398sqm across its substantial floorplan. The impressive waterfront home boasts six bedrooms and nine bathrooms, with space for four cars to park off-street and interiors of classical grandeur designed by Thomas Hamel.
In addition to the stately residence, the location of the home will give the Zimmermann family incredible access to the entrance of Sydney Harbour near the blue-chip Bottle and Glass Point. The property arrives with its own private jetty and slipway, as well as a boathouse and deepwater mooring for any larger vessels needing to drop anchor.
Set to be one of the most expensive properties sold in Sydney this year, 21 Coolong Road, Vaucluse, counts the whos-who of Australian rich-listers as its neighbours, including the likes of David Lowy (Westfiled), Leon Kamenev (Menulog), Marco Belgiorno-Zegna (Transfield), and industrialist Barry Smorgon. Despite the dip across much of the rest of the property market, the very top end of the real estate game appears to remain healthy.
