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SCMP Reporter

SALES of prestige residential property in Australia have continued to breathe life into the market, with several million-dollar homes finding new owners.

    Three non-waterfront Sydney properties all fetched more than A$1.5 million (HK$7.8 million) at auction, while Vailima, on Brisbane's millionaire's row, sold for A$1.2 million.

    After being passed in at auction on October 9 for A$1 million, the owners had three cash contracts on the table for the five-bedroom Vailima at 20 Dickson Terrace in Hamilton.

    Vailima - which neighbours the former home of failed entrepreneur and Majorca resident Christoper Skase - was bought in 1977 for A$95,000.

    In Sydney, Laing & Simmons at Double Bay had three sales of more than A$1 million, with five of its six properties up for auction sold.

    The sales included a restored stone home with harbour views built in the 1840s at 21 Ferdinand Street, which fetched A$1.95 million, and two houses also with views in the Eastern Suburbs.

    A five-bedroom three-storey home at 42 Bulkara Road, Bellevue Hill, with a swimming pool, sold for A$1.7 million and another five-bedroom house with a swimming pool at 38 Coolong Road, Vaucluse, fetched A$1.83 million.

    Less successful was a three-storey house on the Gold Coast, passed in at auction for A$1.81 million.

    Bidding at the auction of 85 Admiralty Drive, Paradise Waters, started at A$1 million, with only two bidders out of the 200-odd crowd vying for the property. The house was expected to fetch more than A$2 million.

    Entering the market was a National Trust-listed property, Farrington House, in Brisbane that the owners will sell and auction on November 20.

    Built in 1882 by a local biscuit manufacturer, Farrington House, at 39 David Street, Alderley, has 360-degree views over Brisbane from its hilltop location and agents expect it to fetch more than A$850,000.

    In the Adelaide Hills, registrations of interest have been called for an unusual property in the Bugle Ranges, which is being sold on behalf of Westpac as mortgagee.

    The property, Trenance on Bonython Road, features a nuclear fall-out shelter, partially completed museum and art gallery on its almost 60 hectares of land in addition to the Wistow stone and red-brick home that was constructed in stages since 1880.

    At Palm Beach, on Sydney's northern peninsula, Lady Joan Burton-Taylor - wife of the late businessman and company director Sir Alvin - is selling her summer residence, built in 1960.

    Refurbished in 1973, the house at 33 Rolston Road will be auctioned on November 23 and agents expect it to fetch more than A$850,000.

    The five-bedroom house is set on about 1,400 square metres of land with views north beyond the tip of Barrenjoey headland, and is one of a number of properties the Burton-Taylors held in the area.

    The prestige market in Melbourne is showing further signs of recovery, with the entry on the market of a five-bedroom house at 401 Glenferry Road, Toorak, which agents expect to fetch about A$1.2 million when auctioned on November 27.



Prestige sales out in front