Hobart Trophy Home Targets $15m
A landmark Sandy Bay estate with deep history, riverfront position and resort-style grounds returns to market with record-breaking ambitions.
2 min
Sentosa in Hobart has already spent its time in the history books, but now the historic estate in Sandy Bay is set to shine again.
The period home, which sits on a large 2300 square metres riverfront block, made headlines in 2017 when the then century-old mansion sold for a Tasmanian record of $6.5 million.
Fast forward to 2026 and the 1917 trophy home is returning to the market with $15 million expectations – a figure that could set a brand new price benchmark for the Apple Isle.
Owned by Sydney investors, Piers Dawson-Damer and his partner Kim, Sentosa has been used as a Tassie holiday home for almost a decade. The pair bought the riverside residence from locals Wendy and Barry Turnbull, who had paid $815,000 for it in 1993.
The current sale is expected to easily eclipse Hobart’s record, which stands at $8.5 million. That benchmark was set when Point Piper-based Taswegian, financier Greg Woolley, bought historic Waimea House in 2011.
Interestingly, Woolley took the keys to Waimea House – also in Sandy Bay – from the Dawson-Damers, who themselves had paid a then-record of $6.06 million.
Co-agents, Forbes Global Properties directors Tracey Atkins and Robert Fletcher, are tasked with marketing Sentosa.
“Sentosa has been set up perfectly by its interstate owners to serve as a top-tier second home, with state-of-the-art automation, technology and security now in place that allow it to be run seamlessly from anywhere in the world,” Fletcher said, adding that the unique Hobart home has been turning heads since it landed online this week
“There is no question it merits attention locally and internationally – it is a true Tasmanian trophy.”
Taking its name from the Malay word for “peace and tranquility”, Sentosa is once of the city’s most iconic properties. Even early Australian aviator Charles Kingsford-Smith reportedly visited the estate when he honeymooned in Hobart with his second wife Mary in 1931.
With 270-degree views of the Derwent River and mountain backdrop, the house on Blinking Billy Point has given its owners a front-row seat to the final sprints of the Sydney to Hobart Yacht Race.
Now fully renovated, the arts and crafts era house has been restored to its former glory.
Fletcher said the Dawson-Damers wanted to respect the home’s heritage while updating the five-bedroom house for modern living.
The result is a blend of classic craftsmanship and modern luxury, all with a strong connection to the water.
There are many restored original details, like ornate cornices, lead-light windows, fireplaces, and intricate fretwork.
The renovation has also added several modern touches, including a new central staircase, updated joinery, sleek bathrooms, and an entertainer’s kitchen. Other modern features of the Sandy Bay home include advanced home automation and CCTV security.
Living areas include both formal and casual spaces, plus there is a grand main bedroom suite, all designed to capture uninterrupted views of the river and ranges.
Outside, the estate offers resort-style amenities, including landscaped gardens by award-winning designer Paul Bangay, with European-inspired green spaces, a statement water fountain, level lawns, and sandstone terraces.
Additionally, there is a fully equipped boat shed with a slipway right on the water’s edge.
Sentosa is close to beaches, popular schools, large parks, and Hobart’s CBD.
Sentosa at 650 Sandy Bay Rd, Sandy Bay is listed with price hopes of $15 million through an expressions of interest campaign with Forbes Global Properties agents Robert Fletcher and Tracey Atkins.
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Australia’s wealthy class is expanding fast, and Knight Frank says that a surge in billionaires is reshaping the nation’s luxury property market.
3 min
Australia’s luxury property market is being quietly reshaped by one of the most significant wealth expansions in the world.
According to Knight Frank’s latest Wealth Report, the country’s billionaire population is set to grow by 77 per cent over the next five years, rising from 48 to 85 individuals.
That surge sits within a broader wave of wealth creation. Ultra-high-net-worth individuals, those with more than US$30 million, are forecast to increase by nearly 60 per cent to over 26,000 Australians by 2031.
Globally, the pace is accelerating. The report reveals that 89 new ultra-wealthy individuals are created every day, a figure that underscores a structural shift in capital formation rather than a cyclical upswing.
For luxury property markets, this is not just a headline number. It is a demand driver.
Australia’s wealth story is increasingly underpinned by diversification across resources, finance, technology and services, creating a depth of private capital that is both mobile and strategic.
And mobility is key. The ultra-wealthy are no longer tied to a single market. Instead, they are operating across multiple global hubs, maintaining footholds in cities like London, New York and Singapore, while using Australia as a stable base.
In this environment, real estate becomes less about shelter and more about positioning. Trophy assets remain desirable, but capital is increasingly being deployed across the full risk spectrum, from long-term holds to value-add opportunities. For Australia, the implications are clear. As wealth expands, so too does the expectation of product, and the locations that can attract it.
The billionaire effect
While property remains central to wealth preservation, the latest data shows that capital is increasingly spreading across luxury asset classes, albeit with a more disciplined approach.
Knight Frank’s Luxury Investment Index recorded a modest 0.4 per cent decline in 2025, signalling a stabilisation phase after several years of correction.
But beneath that headline number is a more telling shift. Collectors are moving away from speculative buying and toward assets defined by rarity, provenance and cultural significance.
Impressionist art led the market, rising 13.6 per cent, buoyed by landmark sales including a US$236 million Klimt painting. Watches also performed strongly, up 5.1 per cent, driven by continued demand for brands like Patek Philippe and Rolex.
At the same time, more volatile categories have corrected. Whisky values fell 10.9 per cent, while parts of the fine wine market have softened following pandemic-era highs.
Perhaps the most notable trend is behavioural. Younger investors are entering the market through fractional ownership platforms, gaining exposure to high-value assets that were once out of reach.
For property, the parallels are clear. The same focus on scarcity, narrative and long-term value is increasingly shaping buying decisions at the top end of the residential market.
Global wealth
The growth in billionaires is not just increasing demand, it is changing where that demand is directed.
In Australia, Brisbane has emerged as one of a handful of global cities experiencing rapid change in its luxury positioning. The city’s transformation is being driven by infrastructure investment and the 2032 Olympics, with top-end apartment prices rising from around US$6 million to more than US$10 million in just 12 months.
Luxury price growth has remained steady, with Brisbane rising 2.1 per cent in 2025, while the Gold Coast recorded 2.8 per cent.
At the same time, buying power is tightening. US$1 million now buys 5 per cent less in Brisbane than it did five years ago, reflecting the upward pressure on prime markets.
The trend is not confined to capital cities. Regional lifestyle markets are also capturing attention. Geelong’s waterfront has been identified as one of the world’s hottest luxury residential markets, driven by a combination of coastal amenity, infrastructure and relative value.
In these markets, pricing is no longer the sole driver. Lifestyle, accessibility and long-term growth are increasingly shaping buyer decisions, particularly among globally mobile wealth.
Alternative luxury assets
Beyond residential property, high-net-worth individuals are continuing to diversify into alternative assets that combine lifestyle and investment potential.
One of the most compelling examples is vineyard investment. Knight Frank’s Global Vineyard Index highlights the Barossa Valley as one of the best-value wine regions globally, where US$1 million can secure more than 18 hectares of land.
Despite a 10 per cent decline in land values over the past year, the broader outlook remains positive, particularly as the global wine industry shifts toward premiumisation.
This “trading up” trend is seeing consumers favour higher-quality, provenance-driven wines over mass-market products, reinforcing the long-term appeal of established regions like the Barossa and Eden Valleys.
For investors, the appeal lies in the intersection of lifestyle and capital preservation. Vineyard assets offer not only production potential, but also a narrative — something increasingly valued in a market where experience and authenticity carry weight.
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