This article is from the Australian Property Journal archive
PRESTIGE property could be joining commercial assets in changing hands at a discount, with a Northern Beaches estate selling for $14 million after initially being listed for $20 million in 2023.
Chateau Narla at 8 Narla Road in Bayview comprises a 4,110sqm six-bedroom, 10-bathroom house with a pool, tennis court and landscaped gardens on more than one acre of land with views over Pittwater.
Darren Curtis from Christie’s and Greg Griffin from Belle Property Avalon managed the sales campaign on behalf of the vendor, Glenn Botha, CEO of Thompson Controls.
The $20 to $22 million asking price in the campaign in May last year may have been ambitious with the mansion last selling for $4.55 million in 2016.
The Northern Beaches suburb of Bayview has a high median house price of $2,920,000, though has experienced a 1.0% downturn over the last 12 months.
With the suburb record set at $16 million in 2021 by a Michael Suttor-designed home at 1768 Pittwater Road, purchased by Tony Nicol, chairman and co-founder at software and data company Visual Cortex.
