Southern Highlands prestige price point commanding strong sales: HTW residential
The Southern Highlands property market has a long history of attracting interest from the who’s who of corporate Australia and the prestige price point is still commanding some very strong sales, according to the latest Herron Todd White (HTW) residential report.
The report notes the highest reported sale for the year was of investment banker Mark Burrows’ Widgee Waa land holding in East Kangaloon.
The property is made up of 155 hectares and has allegedly traded hands for over $14.5 million to none other than tech billionaire and Atlassisan co-founder, Mike Cannon-Brookes.
"That purchase is the third property Cannon-Brookes has acquired in the Southern Highlands in the past three years.
"The entrepreneur purchased a 45 hectare property just up the road in 2018 for $5.35 million as well as a large land holding in Joadja in 2016, taking his total portfolio in the Highlands to over $20 million," the valuation firm said.
Other notable sales in the area included a $9.25 million purchase at 60 Bresnahans Lane in Avoca (pictured below).
The property is a 40 hectare holding with the main residence having a total living area of over 900 square metres as well as an indoor pool, full sized tennis court and a barn of over 450 square metres.
"The residence has changed hands twice in the past three years, achieving $8.1 million in 2017 and indicating that the prestige market in the Highlands has held fairly strong even as the general residential market deteriorated across New South Wales into 2018," the valuation firm said.
Looking forward to 2020, the local area currently has several high profile properties on the market including Beacon Hill (pictured below), the estate of the late Roddy Meagher, listed at a guide of $5.5 million.
The property sits off Old South Road enjoying district views.
