Revealed: A $70m “fixer upper” in one of Australia’s richest suburbs
A once-grand Vaucluse estate with knockout harbour views and a legacy as remarkable as its outlook hits the market for $70 million.
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The mid-century mansion at 38 Vaucluse Rd might not have the same street presence as its glamorous neighbours, but the $70m “fixer upper” still has all the right ingredients to be an enviable eastern suburbs estate.
If the old adage is true – and it’s all about location – then this 1400sq m dual access parcel with postcard views of the Harbour City’s heavy-hitter icons actually has it all.
With the Harbour Bridge and Opera House at centre stage, the outlook propels the listing into its multi-million dollar category, but the owners are also a talking point.
The original five-bedroom residence has been the home of 98-year-old philanthropist Isaac Wakil and his late wife, Susan, for the past 65 years.
Although the perfectly positioned Vaucluse home with the hefty price tag is impressive enough, the one-time high society couple have a history of making headlines with their rundown, yet eye-watering, portfolio.
For decades, the duo held onto several abandoned, but enviably placed properties, including the iconic Griffiths Teas building in Surry Hills and the Terminus Hotel in Pyrmont.
After building their wealth in the garment industry and then property, the pair, who had no children, began selling off their real estate in 2014. The huge cache of properties earned more than $200m, which all went to charity.
They donated millions to The Art Gallery of NSW, Opera Australia, St Vincent’s Hospital and the Sydney Jewish Museum. In 2016, the couple handed a record $35 million to The University of Sydney through the Susan and Isaac Wakil Foundation.
With their Vaucluse residence expected to be a “knockdown”, it could be the most expensive “land” sale in Sydney.
Despite predictions it could be bulldozed, the listing through Ray White Double Bay’s Elliott Placks and Riki Tawhara, depicts “grand interiors waiting modern refurbishment” and describes the homes as offering “character of a bygone era”.
As is, the unique two-storey house has a ground floor dedicated to everyday living and entertaining with a full-width balcony capturing the show-stopping outlook, a formal dining room, library, office, and three bedrooms, including a main with the landmark view and an ensuite.
The same level also houses two full bathrooms, a powder room and a garage.
Downstairs, there is an original kitchen and vast rumpus room with a bar and French doors opening onto a grand terrace, a level lawn with established palm trees, and a huge swimming pool facing the sweeping harbour panorama.
The property, which also has access to Carrara Rd, has two more lock-up garages below and is close to Hermitage Foreshore track, harbour beaches, and Kambala School.
Listed with Elliott Placks and Riki Tawhara of Ray White Double Bay, inspections for 38 Vaucluse Rd, Vaucluse are by pre-arranged private appointment.
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A rare 41-hectare Southern Highlands farm is on the market with a $10 million guide, as demand for prestige lifestyle estates continues to surge.
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A rolling 41ha parcel of farmland in the Southern Highlands, which last sold back in 2012 for $3.05 million, has come to market with a price guide of $10 million.
The sprawling rural estate, once featured in Highlife Magazine showcasing its colourful gardens, is listed with Anne Stone of McGrath Bowral through a private treaty sale.
Beyond the stately front gates and meandering driveway, the working farm consists of a five-bedroom main residence coupled with a three-bedroom guest cottage, as well as a private self-contained studio space.
Also known as Dragon Farm, the picturesque pocket sits 10kms west of Robertson and 47kms from the shores of Kiama.
Near the sleepy hamlet of Wildes Meadow, the provincial property houses 17 fenced paddocks, a championship-sized tennis court with a pavilion, plus a wellness area including a gym and steam room.
Just in time for the Australian Open, McGrath recently highlighted the value of a home grown tennis court in its 2026 Prestige Residential report.
The demand for lifestyle properties with sporting amenities has surged since the early days of the pandemic in 2020, with tennis courts proving to be a big hit.
Along Australia’s east coast, the study showed there were 71 prestige properties with tennis courts sold in the 12-months to October 2025.
New South Wales accounted for 46 per cent of those transactions, and the McGrath paper reported a price premium of 42 per cent achieved for listings with a tennis court during that period.
“Super-prestige properties equipped with tennis courts remain tightly held. Rather than being transacted for a premium they’re being land banked, as the increasing rarity of estates on large parcels will likely drive value over the longterm,” said McGrath research analyst, Michelle Ciesielski.
The main homestead at the Southern Highlands property makes the most of its panoramic setting with district views from three separate living areas and covered wraparound verandas.
Within the 323sq m footprint of the primary residence there is a modern country style kitchen, a central courtyard and main bedroom with a study nook and ensuite.
Ideal for visitors or live-in staff, the rustic cottage measures approximately 140sq m and has an open plan living zone with kitchen flowing through to a traditional veranda, plus three bedrooms with built-in wardrobes and one ensuite.
Beside the cottage an original dairy shed has been transformed into an entertainer’s space with an outdoor kitchen and the separate studio retreat dishes up more accommodation with an alfresco area and fireplace.
Additionally, the tennis court cabana is also set up with a kitchenette and wellness area.
Within the property there are established internal roads, cattle yards and multiple sheds to support livestock or equestrian pursuits.
Currently, the land is home to 35 cows, two bulls and 25 calves grazing across the lush fertile pastures.
The grounds features a potager vegetable garden, a woodland walk and a sculptural Celtic-inspired garden with a maze and two dams.
Listed with Anne Stone of McGrath Bowral, 100 Blencowes Lane, Wildes Meadow is on the market via a private treaty campaign with a price guide of $10 million.
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