Happy as Larry as Dover Heights trophy mansion sale sets new $8 million record

Happy as Larry as Dover Heights trophy mansion sale sets new $8 million record
Happy as Larry as Dover Heights trophy mansion sale sets new $8 million record

There was no black swan in sight, though a white swan painting hung on the dining room wall.

There's now a new $8.02 million record for Dover Heights after the six bedroom home at 246 Military Road sold at Thursday night auction.

The three storey home was sold through Ray White Double Bay agents Daryl Rosen and Jeannine Yates. About $6 million were the stated initial marketing price expectations.

The previous Dover Heights record stood at $7.1 million set in 2007. The same house resold at the lower $6.8 million when Channel 7 morning television host Larry Emdur bought on the prestigious cliff top in 2011.

The highest prior Military Road price stood at the $5.97 million when the Selim family bought the Ed Lippmann architecturally designed Butterfly House.

"No expense has been spared in the creation of this exquisite brand new tri-level masterpiece," the Ray White marketing suggested.

Capturing views over Sydney Harbour, it had been designed by the architect Julian Brenchley of Brenchley Architects, best known for their work on the Channel 9 renovation series, The Block over several series.

It came with six bedrooms and seven bathrooms.

There was a a resort-style rooftop terrace plus swimming pool, spa, sauna and steam room.

The 650 square metre block last traded at $2.7 million in 2008.

Competing Chinese Australian parties took the bidding on 246 Military Road well beyond the slightly vague low $7 millions on the market indications given by the Ray White auctioneer James Keenan.

The bid tally got to 58 bids with four parties all up seeking the property after the $6 million opening bid. The underbidders were represented by David Cohen from the hastingsproperty.com.au buyers agency.

Dover Heights has featured high on the radar of Chinese buying interest. A recent survey put it in fifth place in Sydney's top 10 most searched suburbs on the juwai.com website.

1) Sydney

2) Turramurra

3) Vaucluse

4) Mosman

5) Dover Heights

6) St Ives

7) Drummoyne

8) Hunters Hill

9) Parramatta

10) Darling Point

"Just witnessed a Chinese War for a new house on main eastern suburbs road with bus stop out front sell for $8.02m! Completely nuts!," one auction attendee tweeted.

Eclipsing the Surfers Paradise office traditional status, the Ray White Double Bay team currently sits as the top selling office within the entire Ray White Group.

Its 20 strong sales team secured $119 million in sales during March.

"It is significant that this outstanding figure was achieved across a wide range of sales and prices, its not just a small handful of sales," agent Craig Pontey said.

"What this indicates to me is that the strength of market activity is now more widely spread, than might have been the case six or 12 months ago.

"This is a positive because if activity is widespread across the entire market it does help to indicate a generally health market with more people on the move, selling and trading up," he said.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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