Wealthy downsizers love Darling Point, as evidenced by the soaring median prices Sydney’s well-heeled are willing to pay.
But for empty nesters, the idea of swapping a grand family home for a luxury apartment sometimes loses its appeal when it comes with the spectre of spending the rest of your life dealing with a body corporate.
“Body corporates are no big hassle, usually, but if you’ve never dealt with one, the idea can be a turn off for some people,” said Ben Collier of The Agency.
Against that backdrop, Darling Point is rich in apartments but not houses.
Australian Bureau of Statistics data shows more than 87 per cent of dwellings in Darling Point are apartments, leaving just 220 houses and terraces to the 1624 apartments.
And that’s what makes the few houses and terraces of Darling Point so prized.
Take the Gothic Revival mansion Swifts owned by the private health care boss Dr Shane Moran, the antebellum-style trophy home Glanworth owned by billionaire Kerry Stokes or the Craigend waterfront mansion owned by expat Hollywood studio producer Bruce Davey – all three among Sydney’s most expensive homes.
“It’s no secret that the pandemic has seen a big swing back in favour of houses over apartments, so developers are countering that by ensuring luxury apartments are spacious, but they’re not making more harbourfront land or houses, which makes smaller free-standing homes increasingly popular,” Collier said.
Indeed, Domain Data reflects that with the median house price across the east’s harbourside suburbs soaring a staggering 14.9 per cent to $3.6 million in the 12 months to March, while apartment medians rose just 0.7 per cent in the same period.
And it is into this market that the free-standing house of property investor Rosanne Burkhart hits the market.
The Goomerah Crescent residence was purchased in 2004 for $5 million from trophy home trader Louise Zavattaro, and in 2012 scored a major renovation and redesign that saw another level added to create a top-floor parents retreat and space designated for an internal lift.
Set behind a double garage for privacy, the free-standing house is billed as having three bedrooms, but it is more like three suites, given every bedroom comes with its own en suite and dressing room.
What makes Burkhart’s home all the more prized is its position on the western side of the peninsula, where it captures views of Garden Island and the Harbour Bridge, on show from every room in Goomerah Crescent house.
Collier is currently selling the home with a price guide of $14 million.