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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At the northern tip of Point Piper, hidden from the street and positioned directly on Sydney Harbour, “Radford” combines cinematic views, rare waterfront access and a fascinating connection to one of Australia’s most storied estates.
The five-bedroom residence occupies land once belonging to Paradis Sur Mer, the celebrated three-block waterfront estate that made Australian property history in 1982. The original mansion became the country’s first home reported to have sold for more than $5 million—and may also have inspired one of its fastest and most profitable resales.
Property developer and yachtsman Bernard Lewis purchased the estate at auction for $5.25 million, only to sell it within hours to English betting magnate and thoroughbred breeder Robert Sangster. Lewis reportedly made a $500,000 profit in the process.
Sangster renamed the property Toison D’Or—French for “Golden Fleece” and the name of one of his racehorses—and established it as a Sydney base with his then-wife, Susan. The estate subsequently changed hands and identities again, becoming Paradis Sur Mer, or “Paradise on the Sea”, during Susan’s marriage to financier Sir Frank Renouf.
After another headline-making sale near the peak of Sydney’s late-1980s property boom, the original mansion was eventually demolished and the waterfront holding subdivided. “Radford” now stands on one of those prized parcels, carrying a thread of that extraordinary history into the present day.
Harbour views take centre stage
Designed by award-winning architect Victor Berk and constructed in the early 1990s, the three-level modernist residence has been planned around its exceptional position.
Panoramic views stretch from the Sydney Harbour Bridge across Shark Island and Rose Bay to Manly. A prized northerly aspect fills the home with natural light, while bedrooms and living spaces open to decks, balconies and terraces overlooking the water.
The main living areas flow to a broad alfresco entertaining terrace, sunny swimming pool and level harbourfront lawn. Beyond the garden, a private jetty completes the quintessential Sydney waterfront lifestyle.
Inside, generous proportions make the home equally suited to private family life and large-scale entertaining. The formal dining area can accommodate up to 14 guests, while a Gaggenau-appointed kitchen incorporates an island, walk-in pantry and casual breakfast area opening to the poolside deck.
A fireplace anchors the principal living space, complemented by high ceilings, travertine floors and expansive glazing that keeps the harbour present throughout the home.
A private sanctuary on every level
The main bedroom is accompanied by two walk-in wardrobes, a sitting area and an ensuite featuring a spa bath, separate shower and twin basins. Three further bedrooms each have an ensuite, while a gym with its own kitchenette, built-in storage and bathroom can serve as a fifth bedroom or private guest retreat.
Additional spaces include a fitted home office, an upper-level family area, sauna, two powder rooms and a substantial laundry. A lift connects all three levels, and the central staircase sits beneath an atrium-style glass roof fitted with an electric retractable blind.
Ducted and zoned air-conditioning, extensive storage and a security alarm add everyday practicality. Internal access leads to an oversized secure double garage, with additional driveway parking.
Set in an elite cul-de-sac on one of Australia’s most prestigious waterfront streets, “Radford” is close to Lady Martins Beach, Prince Edward Yacht Club, the Royal Motor Yacht Club, Rose Bay’s marinas and leading schools. Double Bay’s restaurants, boutiques and village amenities are only minutes away.
It is an exceptional harbourfront residence in its own right—but its connection to the record-breaking Paradis Sur Mer estate gives it a place within the wider story of Sydney real estate.
Property details
Address: Wolseley Road, Point Piper, NSW
Bedrooms: Five, including a flexible gym or guest suite
Bathrooms: Five, plus two powder rooms
Parking: Oversized double garage and additional driveway space
Key features: Northerly aspect, panoramic harbour views, private jetty, swimming pool, level waterfront lawn, lift, sauna, home office and Gaggenau kitchen
Architect: Victor Berk
Agents: Michael Pallier, Sydney Sotheby’s & Brad Pillinger, Pillinger
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