A historic Sydney estate, ”The Knoll,” has sold for $17.5 million-a staggering $15 million above the initial asking price-in a deal reflecting the city’s intensely competitive luxury property market. The Georgian revival-style home, located on Kent Rd in Vaucluse, was owned by the same family for six decades before its recent sale.
The record-breaking transaction underscores the continued demand for prestige properties in Sydney’s eastern suburbs, even as broader economic conditions create uncertainty. the sale price highlights the enduring appeal of large landholdings adn architecturally critically important homes in coveted locations, and sets a new benchmark for Vaucluse real estate.The property,designed in 1935 by Scott,Green & Scott for WA Freeman,occupies a ample 2536sq m block-larger than most non-waterfront estates in the area. Its elevated position overlooks the Royal Sydney Golf Club, a feature noted by agent Richard Dunn, who speculated a golf enthusiast might be drawn to the property.
“It would be perfectly suited to a lover of golf because you’re looking down across the recently renovated Royal Sydney Golf Club,” Dunn said. “The outlook is picturesque.”
The estate boasts spacious level lawns, established gardens, and a 15.2m pool. The previous owners had resided at the property for 60 years, representing one of only a handful of owners in the property’s almost century-long history.
Recent real estate activity in Sydney includes a separate sale involving a billionaire media family’s purchase of Iona for $37.5 million. Elsewhere, reports indicate significant rental price increases across several Sydney suburbs.
