Collaroy’s renowned Point House is poised to set a new suburb record, entering the market this week with an ambitious $26 million price tag. Nestled on the northern tip of the exclusive Collaroy Basin, this property has captivated locals since it first sold as a multi-million-dollar land parcel in 2018, and later as a $16 million architectural masterpiece by Peter Stutchbury in March 2021.
In less than five years, the landmark property has appreciated by an impressive $10 million, a remarkable feat considering Collaroy’s median house price stands at $3.51 million. This appreciation underscores the unique allure and value of the Point House, which boasts a north-east aspect and stunning coastal views.
From Vision to Reality: The Story Behind Point House
The Point House’s journey began when former Boston Consulting Group MD and partner Brad Noakes sold his Queen Anne style home in Clifton Gardens to acquire the property in 2021. However, the vision for this headland gem was initially conceived by oil and gas magnate Russell Staley. In 2018, Staley purchased a double block on Beach Rd for $15.5 million, aiming to create a trophy home that would redefine luxury in the area.
Real estate agent Brendan Pomponio of Belle Property had foreseen the potential for Collaroy, particularly the coveted Basin area, to host $20 million homes. His prediction is on the cusp of realization as the Point House, still holding the suburb record, is expected to surpass this benchmark once again. Pomponio is leading the current selling campaign through an expression of interest process.
“This is a once-in-a-lifetime opportunity, and when people consider building costs, turnkey is the way to go,” Pomponio remarked, noting the enhancements made by the current owner, including a gym, games room, wine cellar, and air conditioning.
The Unique Features of Point House
The distinctive five-bedroom, four-bathroom residence spans over 600 square meters of land and is replete with luxurious amenities. A gas-heated pool, ocean-edged garden, and innovative glass panels that invite sea breezes are just a few of the highlights. The home also features a chef’s kitchen, private gym, games room, double garage, and a suite of smart-home technology.
Designed for entertainment, the property includes several zones with bar and wine fridges, a firepit, temperature-controlled wine cellar, outdoor beach showers, and an automatic front gate. These features not only enhance the living experience but also set a new standard for luxury homes in the area.
Market Implications and Future Prospects
The listing of Point House at $26 million signifies a broader trend of escalating property values in Collaroy, driven by its desirable location and the exclusivity of properties like the Point House. As the suburb continues to attract affluent buyers seeking unique coastal retreats, the potential for further record-breaking sales remains high.
Experts suggest that the sale of Point House could catalyze further interest and investment in the Collaroy Basin, potentially leading to more high-value developments. This trend could have significant implications for the local real estate market, influencing pricing dynamics and buyer expectations.
As the expression of interest campaign progresses, all eyes are on the Point House to see if it will indeed set a new suburb record, reaffirming its status as a premier property in one of Sydney’s most sought-after locales.
