Revealed: A $70m "fixer upper" in one of Australia's richest suburbs

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.

A prominent Brisbane publican is calling last drinks on his long-held Hamilton Hill residence.

James Power, of The Norman Hotel in Woolloongabba, owns the sprawling estate at 33 Markwell Street.

After nearly 13 years, the towering residence is due to welcome its next custodians. Now empty nesters, Power and his wife, Jennifer, are moving on from their substantial six to seven-bedroom pile on 1376sqm.

While the pub baron might be downsizing, Power is reportedly upsizing his hospitality portfolio as he prepares to open The Norman Northside at Enoggera.

“We did a lot of entertaining at Markwell St,” Power said.

“The guest wing means it’s really set up for it, but we are basically empty nesters now, and it’s time for another family to enjoy it.”

The c.1930s Spanish Mission residence last changed hands in 2013 when the Powers bought it for $5.05 million. Fast-forward to 2026, and the period property is on the market via an expressions-of-interest campaign with Matt Lancashire of Ray White Collective Luxury. In keeping with Queensland legislation, no price guide can be published.

Lancashire said Hamilton is widely regarded as one of the capital’s premier suburbs, often ranked among the most expensive addresses in the city.

“Known for its elevated position, river views, and luxury homes, Hamilton is a top choice for affluent buyers,” he said.

High on Hamilton Hill, the historic house has sweeping views across the Brisbane River, Gateway Bridge and out to Moreton Bay.

Designed for the avid entertainer, the Brisbane house has a stately entry foyer and gallery, multiple formal and casual living zones with period fireplaces and French doors to several terraces, courtyards and balconies.

The interiors blend original character with sympathetic updates undertaken during a significant renovation in the early 2000s. There are high coffered 3.1m ceilings, wrought iron balustrades, arched openings, stucco finishes, Mediterranean-inspired terracotta tones, imported doors, and statement chandeliers. Modern touches include the kitchen with Miele appliances, a wine cellar, private gym, and steam room.

Outdoors, the resort-style pool is framed by a covered patio and pool house with a wellness centre, as well as established gardens producing citrus, herbs and chillies.

The ground floor is home to two bedrooms, a study and a bathroom, while upstairs the footprint features four bedrooms and a palatial main suite with a private balcony, a dressing room, and a marble ensuite featuring a double shower and a spa bath.

Down on the lower floor, an expansive rumpus room is the ideal teenager hangout, sitting next to the pool patio, plus an adjoining office or guest bedroom.

Extra bonuses of the Brisbane compound include a six-car garage, ducted air-conditioning, and a dumbwaiter servicing all three levels.

The famed shopping and dining precinct at Racecourse Rd and Portside Wharf is close by, as well as the riverfront and parklands. Ascot State School, St Rita’s and St Margaret’s are within easy reach.

The Hamilton home at 33 Markwell St, Hamilton, QLD, is offered via an expressions of interest campaign, closing on May 8 at 5 pm.

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.

A landmark Hamilton Hill residence owned by a prominent Brisbane publican is hitting the market after nearly 13 years, offering sweeping river views, grand entertaining spaces, and timeless Spanish Mission elegance.