Ah, Sydney’s Northern Beaches, a playground for the elite, a paradise for surfers, and lately, a hotbed of some very interesting real estate transactions. And when I say interesting, I mean the kind that grabs headlines in the Australian Financial Review (AFR) and fuels dinner conversations among Sydney’s upper echelon. The AFR article dated 1st September 2023 calls this region “the insular peninsula,” but it’s not without merit. Three interwoven prestige sales have recently been inked here, totalling an eye-watering $39.25 million. As Northern Beaches Buyers Agents, we can confirm that these transactions only affirm what we’ve been seeing: Quality properties on the Northern Beaches are like hotcakes, selling fast, almost regardless of the economy or interest rates.
Case Study 1: The Roberts’ Palm Beach Abode
First, let’s discuss the Roberts family—Matthew Roberts, an ex-JPMorgan bigwig, and his wife Samantha. They recently acquired a property from Frank and Jan Boffa, a name closely associated with a hairdressing dynasty. Located on the prestigious Palm Beach Road, this luxurious $12 million property was built in 1934 and has an aura of grandeur about it. A pool, butler’s pantry, and jaw-dropping views from terraces make it the perfect weekender for the couple. The irony here is rich, given that this house will serve as a ‘weekender’ while they keep their primary base in Bellevue Hill. Talk about options!
Case Study 2: The Boffas’ Newport Beachside Bliss
The Roberts and the Boffas are not only tied through hair—erm, houses. Chris Boffa, Frank’s brother, and his wife Julieann purchased the Roberts’ Newport beachside property for $13 million. The home boasts six bedrooms, an 11.5-meter mosaic-tiled lap pool, and overlooks the splendid Newport Beach. The Boffas appear to be on a real estate shopping spree, having just sold their Pittwater-fronting property for $14.25 million. One might say when it comes to real estate, the Boffas are really making waves.
Case Study 3: Annie Cannon-Brookes’ Newport Venture
Continuing the interconnected saga, Annie Cannon-Brookes, recently separated from Atlassian co-founder Mike, acquired the Boffas’ Pittwater property. This expands her Newport footprint, as she already owns the property next door. With a 3000-square-meter land area, one has to wonder if she’s planning to build a tech incubator or just a really large garden.
Case Study 4: Justin Braitling’s Quick Exit
In an apparently unrelated event, Justin Braitling, the CIO at Watermark Funds Management, sold his Pittwater waterfront home for around $6 million just a year after buying it for $5.6 million. A profitable year, it seems, at least for waterfront real estate!
Case Study 5: Whale Beach’s Record Sale
Finally, let’s talk about Whale Beach, where a luxury hillside property sold for a suburb record of circa $14.4 million. Owned by BT’s former head of equities Mike Crivelli, and his wife, Susan, the property features everything from a steam room to a lap pool and has been designed with exquisite taste.
The Bottom Line
These real estate transactions tell us more than just who’s moving in and out. They show us that the Northern Beaches continue to be a magnet for high-end buyers, whether for their primary homes, weekend retreats, or investments. The connections between buyers and sellers, often extending beyond simple transactions, make these deals all the more interesting. It’s all a game of Monopoly but with real money and real properties.
This is consistent with our observations as Northern Beaches Buyers Agents. Quality properties here are more than just sought after; they’re in extremely high demand. Whether it’s the allure of the beach, the exclusivity of the enclave, or just the desire to be part of Sydney’s ‘insular peninsula,’ people are more than willing to open their chequebooks.
So, if you are contemplating whether or not to invest in the Northern Beaches, these case studies should tell you one thing: the market here is more buoyant than ever. Time to make your own splash!
