A duplex opposite the nation’s most expensive beachfront house has quietly sold off market.
The duplex at 3 Gaerloch Ave, Tamarama — across from the old Californian bungalow Lang Syne that sold for $45m last May — fetched $20m when sold via Simon Exleton of Pillinger last week, local sources advise.
On a per sqm basis, the result is actually higher than for Lang Syne — the duplex (on a 400sqm block) equates to $50,000 per sqm whereas Lang Syne (on an 1100sqm block) is $40,000 per sqm.
No.3 is owned by Mike Charlesworth, former owner of the Central Coast Mariners and now CEO of London-based Mediatel.
MORE:
Beachfront dump sells for $30m
Historic Art Deco site up for sale
MORE: Troubled OnlyFans star’s $12m family mansion for sale
He’d had the upstairs property for several decades and title documents don’t reveal what he paid.
But he bought the downstairs flat for $2,165,000 in 2012.
The plan was to one day build his dream home on the block, but now running his own highly successful telecommunications company in London, he won’t be returning.
He’d been collecting $3900 per week in rent for the two apartments.
MORE: Ricki Lee moves in at Delta’s
The $20m sale was no doubt helped by the record-breaking sale of Lang Syne, which was bought by New York-based adman David Droga, who is building a Luigi Rosselli-designed residence on the site that Exleton has predicted will be worth $100m when complete in 2026.
He should know, having sold three of the five top Tamarama properties in the past three months — including $30m for 20 Thompson St, $18m for 22 Kenneth St and now 3 Gaerloch Ave.