36 Ocean Rd, Palm Beach has a price guide of $42 million.
A charming beach hideaway owned by hedge fund manager Mike Messara, who runs the Caledonia Global Fund with Will Vicars, is betting $18 million on Ocean Rd.
A Palm Beach weekend trophy once owned by the late media legend Sam Chisholm is listed by Michael Pallier and Francis Egan of Sydney Sotheby’s International.
On the market with price expectations of $42 million, the luxury oceanfront home will hit a new benchmark for the suburb, currently valued at $40 million, held by Ian Malouf of the Iluka Rd mansion purchased in 2022.
Messara paid $24 million for the 2,560 square meter property in early 2020, just weeks before the world began to close in on the suburb, famous as the main filming location for Seven soapie Home and Away.
MORE:
The exact price of a record-breaking house in the East
A beach pillow by Susan Rothwell unfolds right onto the sand.
Considered one of Palm Beach’s most exclusive residences.
At the time, the house, known as Melaleuca, was listed by Chisholm’s Melbourne-based daughter Caroline Jumpertz, who unloaded the trophy beach house after 26 years of family ownership.
Sitting at the end of the beach at Cabbage Tree Boat Harbor, this five-bedroom, six-bathroom complex is considered one of Palm Beach’s most exclusive residences.
“This is the most beautiful beach house I’ve ever seen. It’s just incredible,” Pallier said, adding that while the prestige market is feeling downward price pressure, some homes are weathering the storm.
“I think these very special properties are still very desirable. It shows just by looking at the neighbors. It’s billionaires’ row. It’s a very valuable place.”
The expansive ground floor plan includes a central outdoor entertaining space with a spectacular deck, mineral pool, spa and poolside powder room.
There are five charming bedrooms.
And six marble bathrooms.
MORE:
Michael Clarke won $5 million
The resort-style estate is surrounded by VIP residences such as billionaire Gretel Packer’s $24 million home and the Kalua estate, which sold to retired car salesman Laurie Sutton in 2012 for $23 million to $25 million.
The Susan Rothwell-designed beachside at 36 Ocean Rd has been extensively renovated during its seven years of ownership.
The new kitchen includes a handmade French Lacanche oven, a 5m marble island with integrated butcher block and a commercial cool room, while the bathrooms have limestone heated floors.
The expansive ground floor plan includes a central outdoor entertaining space with a spectacular deck, mineral pool, spa and poolside powder room.
Another deck offers an alternative outdoor dining area, complete with a fire pit and expansive level lawn fringed with towering palms leading directly to the beach.
Modern upgrades include cedar shutters, refinished hardwood floors.
There is a boat shed and a self-contained guest suite with a separate entrance.
The first floor has a separate bedroom suite with a walk-in closet and living room, lounge or office, as well as an upstairs viewing deck with a sweeping panorama of the Pacific Ocean.
In addition, there is a self-contained guest suite with boat storage and a separate entrance.
Modern upgrades include cedar shutters, reclaimed wood floor tiles and Travertine & Limestone tiles, Heat & Glo instant gas fireplace, custom joinery, elevator, built-in daybeds, large laundry room with walk-in linen press and lots of storage.
There is also a double hall garage with external aspect.
Melaleuca is within walking distance of local cafes and the path to Barrenjoey Lighthouse.
Outdoor entertaining with ocean views.
Former owner Sam Chisholm was one of the most colorful faces in Australian media, leading the Nine Network in the 1970s and 80s until his death in 2018 aged 78.
In 1994, Chisholm bought a modest weatherboard house for $3.1 million, then commissioned a Rothwell design.
Before that, the property was the home of writer Morris West, author of The Devil’s Advocate and Children of the Sun, who sold it in 1978 for $195,000.
Messara is selling his beach house to spend more time at Caledonia’s New York office, but will keep his two properties in Awaba St, Mosman, which is currently being developed into a multi-million dollar complex.
MORE:
‘I see an opportunity’: A top agent lists his home
