Waterfront House Overlooking Sydney Harbor Lists For A$50 Million


A mansion overlooking Sydney Harbor went on the market Monday for A$50 million (US$37.7 million) – the first time it’s being offered since it was built more than 80 years ago.

Located on Point Seymour in Vaucluse, an affluent eastern suburb of Sydney, the five-bedroom, four-bathroom home is the most expensive home on the market in Vaucluse, according to the record list. The curving facade and numerous balconies frame far-reaching views of the water from almost every room, according to the listing by Michael Pallier of Sydney Sotheby’s International Realty.

“Point Seymour is an iconic Sydney property, in the best harborside location,” Mr Pallier said in an email. “The house is perfectly positioned, due north, with absolutely deep waterfront and no neighbors on three sides of the land.”

Located on a cul-de-sac between the idyllic Parsley and Vaucluse coves, the property offers breathtaking views and direct access to Sydney Harbour, according to the listing.

The house belonged to the Bracey family, who owned a general store in the area, since it was built by Horace Edward Pearce Bracey in the late 1930s. He spent the equivalent of A$4,220 on the land, according to… realestate.com.au† It has been passed down through the family and the last owner was Margaret Gwyneth Bracey, according to public records. She died last year at the age of 96.

The residence is built in the P&O style, a version of modernism that was popular in the 1930s. Also known as nautical-deco, P&O-style homes were inspired by the popular Pacific and Orient Line luxury cruise ships, including the Queen Mary and Queen Elizabeth, according to a 2007 article in The Sydney Morning Herald†

Structures built in the style often have curved walls, glass bricks, flat rooflines, and steel-framed portholes. Inside, they have clean lines and simple finishes.

Outside, the house is surrounded by manicured lawns and vistas overlooking the water as photos show. There is parking for up to four vehicles.

Vaucluse has seen prices rise nearly 12% over the past five years, and according to realestate.com.au, the median price of a property there was A$7.9 million in February.

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