A 1920s brick bungalow in the Sydney suburb of Tamarama that last traded for £9750 in 1959, has sold for what’s believed to be about $45 million.
Lang Syne, at 31 Gaerloch Ave, Tamarama, sold this week to an unknown buyer for not just a record on Sydney’s Eastern Beaches, but the highest oceanfront price ever in Australia, according to realestate.com.au.
Set on a 1100sq m block, Lang Syne has been held in the one family for the past 63 years and stands sentry on the point at Tamarama, offering spectacular views from the south head of Bondi, across Mackenzies Bay to Tamarama and Bronte.
Described by award-winning architect Bruce Stafford in the property’s marketing video ,with listing agents Forbes Global Properties, as “gold”, Lang Syne still retains many of its original features.
“This site is one of the greatest sites in Sydney,” Mr Stafford said.
“It’s a 180-degree spread, from South Head, all the way to North Bronte, and you’ve got all the surf breaks in between.”
Mr Stafford also praised the atmosphere at the property itself, which is spread across three blocks and is one of the largest privately held parcels of land in the Eastern Suburbs.
“You’ve got no one looking in on you, no one looking down on you,” he said.
“We’re actually in an urban setting, but it feels like we’re in the country.”
Ken Jacobs of Forbes Global Properties sold Lang Syne after listing it with a price guide of $47 million to $52 million.
The exact sale price isn’t clear, but it’s believed to be around $45 million, according to realestate.com.au.
Buyer’s agent Simon Cohen, of Cohen Handler, acted on behalf of the purchaser in the deal, but their identity also remains a mystery, with Mr Cohen unable to provide comment.
Lang Syne was built in 1924 by boot and shoe manufacturer George Wolf and last sold for £9750 in 1959 to Harry Griffiths.
Mr Griffiths, a radio personality who was part of a comedy sketch McCackie Mansions alongside Roy “Mo” Rene, died in 2014 at the age of 87, according to the Sydney Morning Herald.
His widow Dimity Griffiths has lived at the family home since they were married in 1963, raising their two daughters and two sons, while preserving the site from subdivision and overdevelopment throughout the family’s 64 years of ownership.
Before the pandemic property boom, the Tamarama house price record stood at $15.75 million set in 2019 by the house next door.
It has been reset a few times since, most recently at $29.2 million for an oceanfront block of apartments set on a block half the size of Lang Syne that was purchased by socialite Di Maloney to be redeveloped into a family duplex.
Bronte’s record was reset last month at close to $30 million by venture capitalist Craig Blair, topping the $29 million James Packer pocketed for his Bondi Beach bachelor pad in 2018.