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All cashed up with nowhere to go, wealthy buyers target rural trophies
A new generation of personal buyers is breathing life into luxury regional properties as the pandemic puts a premium on domestic getaways.
The 10.1ha Casuarina Estate at 1023 Pokolbin Road, NSW, sold for $3.9 million.
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New life came to a Hunter region property that was once the base of celebrity chef Peter Meier when a Sydney buyer acquired the 10.1-hectare Casuarina Estate in Pokolbin, two hours’ drive from the NSW capital, for $3.9 million.
The family bought the collection of separate residences and function venue with swimming pool and 4.8-hectare vineyard at 1023 Hermitage Road to be a retreat for themselves and friends that – with 21 accommodation units in total – they could also rent out on Airbnb when they weren’t using it.
Mark McInnes among Melbourne elite to miss out on $22m Portsea sale
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Developer David Deague and retail boss Mark McInnes were two bidders who left empty-handed from the auction of a Portsea clifftop house on Saturday after it took just minutes for the property declared on the market at $16.5 million to sell for a whopping $22.2 million.
Damien Honan, the executive chairman of broker Honan Insurance, which in May sold a stake to US private equity firm TA Associates, walked away with the 1-3 Franklin Road property following a duel with the remaining rival bidder, after Mr Deague pulled out at the $20 million level.
Brand-New Oceanfront Mansion on Australia’s Southern Coast Is a ‘Modern-Day Masterpiece’
The house, which feels as though it’s suspended over the water, was built to withstand the conditions it faces being so close to the ocean By Catherine McHugh |
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Price: A$30 million (US$22.93 million)
Dubbed “Horizon,” this recently completed five-bedroom mansion is perched on a dramatic cliff edge on Australia’s Mornington Peninsula near Flinders township, about 45 miles south of Melbourne.
In 2015, the family of legendary Australian rules football coach Jock McHale put the property, which includes a 1920s homestead called Pinnacle Park, up for sale. According to listing agent Rob Curtain of Peninsula Sotheby s International Realty, developer Brooke Starbuck bought it, along with multiple adjoining titles.