What it’s like to live on Sydney’s most expensive street

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It’s been the home of prime ministers, real estate tsars, media bosses and some of Australia’s most successful businesspeople.

Yet part of the joy of living on the most expensive street in the nation’s richest suburb – and one of the 10 most exclusive streets in the world, according to billionaire.com – is that it is also intensely private.

That is part of the true appeal of apartment living on the one-kilometre-long Wolseley Road in Point Piper – Sydney’s “dress circle”, where the exclusive, high-security buildings hide just as many secrets as the street reveals.

“Wolseley Road is probably considered the most expensive street in the whole of Australia,” says local agent and Highland Property director Bill Malouf.

“At the moment, I know of [at least three luxury] apartments up for sale: one for around $20 million, another waterfront for $17 million and another one around $13-14 million.

“Everyone just loves living there. It’s the views of the harbour and the Opera House, the quality of the light, the prestige of the area and its proximity to the CBD.”

Wolseley Road in Point Piper is considered one of the most expensive streets in the world.

While the median house price for the street sits at an astonishing $45 million, up from $33 million the previous year, according to Ray White Group data, the apartment price record was set in February this year.

The dual-level penthouse at Vilon – a new boutique block of six whole-floor apartments at 23 Wolseley Road – sold for $22.5 million to property developer Fedor Czeiger and his hardware-owner wife, Elizabeth. Others in the building were snapped up for prices in the region of $16 million, Malouf says.

Now occupants of the growing number of apartment buildings on the road can enjoy the stellar harbour views that were once limited to those who had waterfront mansions.

Over time, those residents have included former prime minister Malcolm Turnbull and his businesswoman and politician wife, Lucy Turnbull; Westfield chairman Frank Lowy; global media superpower Lachlan Murdoch; Hungry Jack’s owner Jack Cowin; recruitment whizz Julia Ross; and the former chief executive of Primo Group and co-owner of the Western Sydney Wanderers A-League football club, Paul Lederer.

Let’s not forget Aussie Home Loans founder John Symond. His Wingadal mansion is on the largest land holding off Wolseley Road and has been for sale, on and off, for more than $250 million.

There are more apartments to come. The nearby Piper development of 14 luxury two-, three- and four-bedroom apartments is being delivered by developer Fortis and Dare Property Group, a partnership between long-time locals Charles Mellick and Danny Avidan. The penthouse is priced at between $16 and $16.5 million.

Others lie just off the horizon, with plans to amalgamate apartments on the street into mega residences, such as the four units in a single block at 36 Wolseley Road, which are on offer for about $50 million.

TRG agent Marcus Botte, who is handling the sale, says the eventual buyer might demolish them and build something even more fabulous in their place.

“There’s a lot of interest, and Wolseley Road is always popular,” he says. “The market is now very buoyant and there’s a lot of demand.”

That optimism is echoed by Malouf, who says, “This winter has been extremely quiet with the wet and cold affecting the marketplace and keeping numbers down. But that will all change as we go into September, October and November.”

This article was originally published by Domain.com.au. Reproduced with permission.