This article is from the Australian Property Journal archive
SYDNEY developer Michael Teplitsky is expecting around $50 million for one of the last major developable waterfront sites in Sydney’s exclusive Darling Point, which is tipped to attract interest from local and international developers to high-net-worth individuals.
The 1,000 sqm-plus property at 77 Yarranabbe Road comes with DA approval for four luxury apartments designed by Koichi Takada.
Teplitsky has over time acquired the site, which is currently configured as a block of four apartments, and boasts absolute harbour views including back to the CBD.
Colliers’ Matthew Meynell, Miron Solomons and Matt Pontey have the listing in conjunction with Julian Hasemer and Caldwell-Eyles of 1st City.
“Buyers for new, high-end apartments on the eastern suburbs waterfront have never been spoilt for choice, it’s virtually impossible to find. The astute developer now has a significant opportunity to capitalise on this extremely rare, DA-approved opportunity,” Hasemer said.
“Once this KTA-designed masterpiece is completed, these 4 luxury, whole-floor waterfront residences will be highly sought after, they will command the highest prices ever paid for apartments in the east.”
Solomons said Yarranbe Road is a landmark destination that is home to some of Sydney’s most high-profile names, while Meynell opportunities of this size and scale directly situated on the waters of Sydney Harbour seldom come to market and the site represents “one of the most attractive listings to hit the market so far this year”.
The eastern suburbs high-end prestige market has continued to outperform. Luxe developments such as ODE by Top Spring in Double Bay have hit close to $100,000 per sqm, while a trophy home on the eastern side of the point on Lindsay Avenue last year sold for $60 million.
Expressions of interest for 77 Yarranabbe Road close 10th May.
The listings comes days after the Darling Point home of bespoke tailor Patrick Johnson and his designer wiFe Tamsin Johnson hit the market. Through TRG and Highland Double Bay Malouf. The 1920s-built house was bought in early 2020 for $10.05 million and has undergone a transformation since. Period textures have been refined and the four-bedroom, five-bathroom residence boasts ornate ceilings. It is on an 892 sqm block with views over Double Bay and Seven Shillings Beach.
Last month, Domain reported that Olympic gold medallist Mark Kerry and his interior designer wide Lynda were tipping their rebuilt five-bedroom Darling Point residence to the market with expectations of up to $40 million.
