Property of the Week: 26-27 Olola Rd, Vaucluse
Five bedrooms, harbour views, a lift, a tennis court, a wine cellar and accommodation for the live-in staff — this palatial home redefines luxury
2 min
A Sydney trophy home which has been no stranger to the property market in recent years has reappeared this week, listed with new agents and an amended price guide of $45 million.
The grand Vaucluse estate on coveted Olola Avenue is currently owned by shipping container king Arthur Tzaneros and his wife Maude who paid $32 million for the expansive 2266sq m estate just three years ago. Tzaneros is currently the CEO of Australian Container Freight Services Port Logistics.
Despite purchasing in 2021, but reportedly only settling on the prestige property in 2022, the
palatial residence was back on the market mid last year with $50 million to $55 million price
expectations. That 2023 listing of Olola Rd was likely prompted by Tzaneros spending $61.5
million for another luxury home in nearby Bellevue Hill last year.
Prior to the Tzaneros’ acquisition, the high profile house was on the market in 2018, when it
exchanged for $17 million, and 2012 when it fetched $8.5 million.
Now the extravagant five-bedroom home, complete with resort-style grounds including a pool and tennis court, is being marketed with co-agents Michael Pallier of Sydney Sotheby’s International and David Malouf of Highland Double Bay.
The vast compound sits opposite historic Vaucluse House and Vaucluse Park, featuring northerly harbour views out to The Heads and a long wish list of designer finishes.
A stately home with grand proportions, the elevated three-storey property has a winding private driveway to a large forecourt fit for multiple cars in addition to the six-car showroom garage.
An imposing foyer and gallery with herringbone floorboards and a statement staircase make a
great first impression, while formal rooms open up to a pergola and water views. This spacious ground floor footprint has multiple zones for entertaining and the sleek state-of-the-art kitchen features a huge marble island bench, big butler’s pantry, Miele ovens and an induction stovetop.
There is also a separate home office with external access on the same level.
Upstairs, five bedrooms all have their own ensuites with Calacatta marble surfaces and heated floors. The hotel-style primary suite is a home to a Hollywood-inspired dressing room, and a fireplace, and features balcony access with a harbour outlook, a deluxe bathroom with double showers and vanities plus an oval freelancing bathtub.
The converted attic is the ultimate retreat or guest bedroom with a wide terrace, kitchenette and bath ensuite.
For outdoor entertaining, the property also has a combined tennis and basketball court, a
swimming pool, an alfresco pavilion with integrated barbecue and bar fridge, a level lawn, as well as landscaped private grounds.
The long list of luxury features at the residence includes a five-person lift to three levels, a wine cellar, cloak room, two powder rooms and a self-contained street-level studio ideal for live-in staff.
Surrounded by VIP homes, the Olola Ave house is close to harbour beaches and sought after
schools.
26-27 Olola Rd, Vaucluse is listed with a $45 million price guide with co-agents Micheal
Pallier of Sydney Sotheby’s International Realty and David Malouf of Highland Property
Double Bay.
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Built as a forever home, Corazón combines wellness, luxury and architectural flair in one of New Farm’s most ambitious residential projects.
4 min
Although Corazón was meticulously built to be the Smout family’s dream home, the glamorous Brisbane residence is now seeking its next custodian.
The luxury New Farm property named Corazón, the Spanish word for heart, was always meant to be the Smouts’ forever home.
Becky, a teacher-turned-design specialist, and her property developer husband Francisco bought a pre-war timber home on the 810sq m site back in 2022 for $2.625 million. They then painstakingly transformed it into a luxury 21st-century residence.
The laborious process included a full year of negotiations with Brisbane City Council to secure approval for the now six-bedroom, nine-bathroom architectural landmark at 563 Lower Bowen Tce.
Plans for the family of five are taking another direction, and on June 13, Corazón will go under the hammer, marketed by Matt Lancashire and his team from Ray White Collective Luxury.
“This is the most incredible house I have ever seen. The quality of the build, the finish, this family poured their heart into this home for three years, and it shows in every single detail. There is nothing else like it in Brisbane,” he said.
Since the house is headed to auction, Queensland regulations prevent agents from publicly advertising price guides.
However, according to Cotality records, the current price record for New Farm is $25 million, set by a renovated home at 17 Julius St that sold for $25 million in 2025.
The top figure paid on Lower Bowen Tce was set in 2023, when a contemporary 503 sq m property at number 603 sold for $6.2 million.
Lancashire added that demand for luxury Brisbane property had never been stronger, as more cashed-up buyers seek designer homes close to the CBD.
Just this month, Lancashire and his colleague Josh Brown set a new suburb price record when Governess, an 1860s-era home in Paddington reimagined by local builder-developer Graya, sold for an undisclosed sum reported to be “more than” $12 million.
Corazón is an example of how the Australian prestige market is currently reflecting the high-end tastes of high-net-worth buyers.
Vanessa Rader, Ray White head of research, said the nation’s wellness economy – now valued at $141 billion and representing 7.8 per cent of GDP – was actually reshaping buyer expectations.
“The most significant transformation in luxury real estate is happening behind the walls,” Rader explained.
“Intelligent wellness design is no longer coming; it has already arrived in Australia’s premium property market, redefining luxury for a generation that values optimisation.”
Today, the spacious three-storey New Farm home has 963sq m of internal and external living space, crafted for Queensland’s long summers and laidback lifestyle.
Standout design features include a dramatic double-helix spiral staircase, 3m ceilings, curved glass and steel, off-form concrete surfaces, Venetian plaster walls, and a show-stopping solid marble travertine bathtub carved from a single block of stone.
The ground floor is an entertainer’s playground with a vast open-plan living and dining zone anchored by a sleek kitchen complete with a long eat-at island bench, a hidden buyer’s pantry, plus Miele, Gaggenau and Pitt appliances.
Floor-to-ceiling glass walls peel back to reveal a paved terrace featuring a full outdoor kitchen and an integrated Beefeater barbecue.
A heated magnesium-filled pool sits next to a grassed courtyard and fire pit, with an added wellness retreat space housing a sauna, an ice bath, and a bathroom.
The entry level also houses a separate media room, a wine bar, a guest bedroom with an ensuite, a mudroom-style laundry and a home office with built-in desks.
A private lift serves all floors, including the accommodation level, which has five ensuite bedrooms, as well as a first-floor retreat and study area. In the primary suite, there is a huge dressing room, strategically placed skylights and a lavish bathroom with a double shower.
As an added bonus for the kids, one bedroom has its own rock-climbing wall and suspended net cubby.
One more level up, and the rooftop lounge with a kitchenette has sweeping city skyline views and a grand terrace.
Security features at the home include facial-recognition entry, perimeter cameras, and a comprehensive internal and external alarm system. There is also a Crestron smart home system with Dali lighting control for more than 400 fittings.
Corazón has a three-car garage with a gym and parking for up to three more cars behind the security gates. The Lower Bowen Tce home is approximately 200m from New Farm Park, 400m from Merthyr village and 2 km from the Brisbane CBD.
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