Another eastern suburbs property record looks set to be smashed, with one of Maroubra’s largest landholdings coming onto the market this week.
The five-bedroom waterfront house, listed for expressions of interest, is expected to top the suburb’s $14 million price record set by a non-waterfront property earlier this year.
The Liguria Street property is being marketed without a price guide through Nader Hotait of Ray White Maroubra and South Coogee and Michael Pallier of Sotheby’s International Realty.
Mr Hotait expected the property could set a new suburb record for a single block and also sell for more than the price paid in other comparable sales: two neighbouring Maroubra blocks sold for $16.7 million in April, and the “Coogee Castle” sold for about $17 million last month, setting a new record for South Coogee.
“I think [the result] will be in high teens, potentially up to $20 million,” Mr Hotait said. “Having 1400 square metres, with two frontages right on the ocean, is unique and hard to come across.”
The four-storey home has ocean views throughout and offers plenty of space, with five bedrooms, four bathrooms and parking for up to 12 cars. It features multiple living areas, a large kitchen with Miele appliances, a home office, a cellar, a billiards room and a lift.
Outside are multiple terraces from which to take in the view, an infinity pool and spa, and a manicured lawn that flows out to a private rock area on the water’s edge.
Records show the property last sold for $3.1 million in 2003, with the new home completed in 2004. It has been a family home since, with several upgrades made in more recent years and the owners now selling to downsize.
Mr Hotait expected to see both local and international interest in the property, noting a growing number of eastern suburbs buyers had been casting their gaze further south, particularly since the start of the year, in search of better value and larger waterfront blocks.
The sale comes after a string of high-end deals in the east, with home owners cashing in on the region’s soaring house prices, up 12.4 per cent over the year to March to a median house price of $3,147,500. In Maroubra itself, the median house price was up 19.4 per cent year-on-year to $2.15 million.
The expressions of interest campaign closes on July 22.