Clontarf house sold by Cambodia's ruling elite for $32 million
A 1960s modernist house in Clontarf – not Point Piper – has sold for $32.18 million, almost three times what it last sold for in 2016 when it set a suburb record of $11 million.
Admittedly, it is now a seven-bedroom house on 3,000 square metres of beachfront reserve with a swimming pool and half basketball court.
Recently renovated interiors include opulent finishes by Fendi, Versace and Cavalli.
Even with the no-expense-spared works, the result offers a windfall to the vendors Madina Tao and Mongkol Phara, both members of Cambodia's ruling families.
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Word of the sale leaked from a source in China and a social media post on Thursday that trumpeted the sale for a "historical Clontarf record $32.18 million" – making it the most expensive house sale in the broader Manly area.
The only northern beaches properties to sell for more are the Palm Beach house purchased by former garbo Ian Malouf for about $40 million and Jennifer Hawkins' construction project in Whale Beach for about $30 million, both of which are yet to settle.
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The landmark residence was built in 1961 by the late husband and wife Amina and Franco Belgiorno-Nettis.
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For sale - 46 Gordon Street, Clontarf - see the full listing here
For sale - 24 Beatrice Street, Clontarf - see the full listing here
The latter was a renowned arts patron and co-founder of the construction and engineering giant Transfield.
The Belgiorno-Nettis family held the property until after Amina died in 2015, and it sold the following year to the progeny of Cambodia's political elite Tao.
Tao is the daughter of the late senior minister Seng Huor Tao, and Phara, whose father is the Minister of Land Management Chea Sophara.
Tao and Phara gutted the residence, redesigning the interiors and floor plan to include add-ons like a day spa, home theatre, gymnasium, sauna and a cheese room.
It was listed in June last year by BlackDiamondz Property Concierge's Monika Tu and Jad Khattar with hopes of $35 million to $38 million. Neither agent was available to comment at the time of publication.
There is no mortgage on title.
This article was originally published in The Sydney Morning Herald.
For sale - 6 Castle Rock Crescent, Clontarf - see the full listing here
