The palatial property has just sold for $9 million, which Berkely Residential real estate agent Bill Lyristakis believes sets a new ACT residential property sale record.
Awarded ACT House of the Year when it was built in 2000, the home is billed as “a residential estate of extraordinary beauty and refinement”.
Mr Lyristakis says the sellers are the same Canberra business owners who designed and built the property some 20 years ago on a parcel of land he found for them.
“I looked for years for the perfect block for the vendor; we looked at many homes, many land parcels prior to their purchase of this one,” he says.
“As soon as I showed them this parcel, their response was immediate: perfect block, elevated views, northerly aspect, sunny, bright. They couldn’t ask for better and proceeded to purchase at auction.”
As the current owners look to downsize, a local family has purchased the home with no apparent plans for significant alternations, according to Mr Lyristakis.
“They just love the home. I don’t believe they will be making any substantial changes to the property,” he says.
Set on 2816 sqm of elevated land with mature, sun-filled gardens, the four-bedroom plus study, four-bathroom residence has a reception hall, formal rooms with natural gas fireplaces, a lift, multiple entertainment areas, an expansive heated pool and spa, a tennis court, a drive through six-car basement garage, a cinema room and a temperature-controlled cellar in the basement.
Characterised by high ceilings, picture windows, expanses of marble, the substantial residence boasts uninterrupted northerly views from the Arboretum to Mt Ainslie.
Having been on the market for about a year and a half, Mr Lyristakis says the “outstanding result” proved the stability of the Canberra property market and the value of resolve.
“I’ve been selling real estate in Canberra for about 30 years and in my experience it has always been the case that quality property always sells well, even in down markets,” he says.
“That said, there’s nothing like commitment and perseverance to the cause.
“There was never any shortage of interest. Finding the right buyer and achieving the correct price just took some time.
“Michael Lyristakis and Simon Richards also put in an enormous effort. We’re very happy with the result, as are the vendors and purchasers.”
More images of the record-setting property can be viewed on Zango.