Tamarama's secret sale of duplex for $20m opposite $45m Lang Syne – realestate.com.au – realestate.com.au

Stephen Nicholls, Property Journalist
Updated 24 Apr 2024, 4:20pm
First published 24 Apr 2024, 3:06pm
Gaerloch Ave, Tamarama sold for $20m, local sources advise.
A duplex opposite the nation’s most expensive beachfront house has quietly sold off market.
The duplex at 3 Gaerloch Ave, Tamarama — across from the old Californian bungalow Lang Syne that sold for $45m last May — fetched $20m when sold via Simon Exleton of Pillinger last week, local sources advise.
On a per sqm basis, the result is actually higher than for Lang Syne — the duplex (on a 400sqm block) equates to $50,000 per sqm whereas Lang Syne (on an 1100sqm block) is $40,000 per sqm.
No.3 is owned by Mike Charlesworth, former owner of the Central Coast Mariners and now CEO of London-based Mediatel.
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Views out over the ocean — and $45m Lang Syne.
The owner originally intended to one day knock down the duplex and build his dream home.
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He’d had the upstairs property for several decades and title documents don’t reveal what he paid.
But he bought the downstairs flat for $2,165,000 in 2012.
The plan was to one day build his dream home on the block, but now running his own highly successful telecommunications company in London, he won’t be returning.
He’d been collecting $3900 per week in rent for the two apartments.
A stylish kitchen opens to a terrace and deck.
And that makes three! Simon Exleton has sold three of the five top sales in Tamarama over the past three months.
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The $20m sale was no doubt helped by the record-breaking sale of Lang Syne, which was bought by New York-based adman David Droga, who is building a Luigi Rosselli-designed residence on the site that Exleton has predicted will be worth $100m when complete in 2026.
He should know, having sold three of the five top Tamarama properties in the past three months — including $30m for 20 Thompson St, $18m for 22 Kenneth St and now 3 Gaerloch Ave.
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