Malaysian-based billionaire lists $50m Watsons Bay waterfront home he visits just twice a year

2 weeks ago 7

32A Pacific St, Watsons Bay has hopes of $50m in an expressions of interest campaign.

The landmark, end-of-the-line Watsons Bay waterfront home owned by Gee Soon Low, of the billionaire Malaysian family behind property developers the Low Yat Group, has come to market with hints of a $50m price tag.

Interested parties are invited to make offers via an expressions of interest campaign by April 23 through Michael Pallier of Sotheby’s International Realty and Steven Zoellner of Laing + Simmons Double Bay.


Home and Away star’s bargain buy

‘Jelly pool’ waterfront sells for $30m+

The lights might be on, but usually no-one’s home.

The house was rebuilt in 2017 by the owner, the youngest son of a property magnate.

Despite the enviable location of the six-bedroom, seven-bathroom house, its postcard views of the city and private jetty, the Malaysia-based owner rarely stays at the property.

Neighbours say the home is occupied only a couple of times a year.

The last house on the coveted Pacific St cul-de-sac, it previously traded for $2.7m in 1994.

However the residence was completely rebuilt in 2017 by Soon, the youngest son of late property magnate Tan Sri Low Yow Chuan, often referred to as the Malaysian “father of tourism”.

The property last traded for $2.7m in 1994.

The home is at the tip of the Watsons Bay headland only 100m from from the beach.

The 803sq m block sits next to the secluded Green Point Reserve at the tip of the Watsons Bay headland only 100m from exclusive Camp Cove Beach surrounded by neighbours such as money guru Mark Bouris, billionaire Steven Lowy, as well as the home of mining magnate Chris Ellis and venture capitalist Sandrina Postorino.

Read Entire Article