5 St Ninians Rd, Brighton has sold.
A beachfront mansion on Brighton’s Golden Mile has sold for about $24m, making it the biggest residential sale for the suburb this year.
Developer and director of CBD Development Group, Chen Guo Jing was revealed to be the seller, who the Sydney Morning Herald reported had six companies collapse during the pandemic.
Mr Jing once said that Australia “couldn’t survive” without Chinese migrants.
RELATED: Prahran pad blossoms into secret garden treehouse
$50k secret could get you a new home sooner
Jeremy Renner’s $19m ‘Star Trek’ recovery home for sale
His former seven-bedroom house at 5 St Ninians Rd was offloaded for just below its initial $24.95m-$25.95m price guide.
While Marshall White Bayside director Ben Vieth declined to comment on the sale price, but said it set a new residential benchmark for the suburb this year.
Unobstructed views of the bay.
Industry sources revealed the home sold for circa $24m to a local family.
CoreLogics records show the Brighton abode last changed hands for $13,500,888 in October 2015.
Morrell and Koren buyer’s advocate Matt Cleverdon said there were very limited chances to purchase waterfront properties on the Golden Mile.
“You may only get one of these waterfront opportunities a year offered on market,” Mr Cleverdon said.
The expansive beachfront property.
“When they come up, common sense often goes out the window for some.”
The expansive property spans across 1800sq m, and has unobstructed views of the bay.
Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest property market news delivered direct to your inbox.
MORE: Sell off: Melbourne has the most homes for sale since 2018
Risky renos Vic homeowners are doing to fight soaring costs
Max Walker’s ‘grotty mancave’ turned into secret speakeasy
sarah.petty@news.com.au
English (US) · 