Boom town keeps up the pace with $12.3m house sale
Author: Jonathan Chancellor
Date: December 1, 2006
Publication: Sydney Morning Herald (subscribe)
Perth's best-known house, built by the late Bond Corp lieutenant Peter Beckwith, has been sold for $12.25 million, just 18 months after selling for $7 million.
The price puts the six-bedroom, nine-bathroom Dalkeith palazzo, which overlooks but does not front the Swan River, equal second on Perth's prestige sales list. With the mining boom creating red-hot market conditions, Perth recently broke through the $10 million barrier, 19 years after Sydney. The isolated city's top sale now stands at $15 million for a cliff-top Claremont riverfront property.
Land profiteering has also begun at what was Perth's best-known property, Prix d'Amour, high on the hill at Mosman Park. After the house was demolished and the estate subdivided into 10 lots, an 804 square metre vacant block that sold last year for $3.6 million was resold for $5 million last Friday - a 39 per cent jump.
Only three years ago, Sydney's median house price was more than double Perth's, but the price gap narrowed to within 6 per cent during the September quarter. Sydney's top-priced property, the $28 million Altona at Point Piper, is still well above Perth's, however.
The Espie Dods-designed Beckwith mansion was built over four years in the late 1980s, reportedly at a cost of $9 million. The former Bond Corp chief lived in it for only a short time before he died from a brain tumour in July 1990.
The Jutland Parade house was first sold in 1996 for a record $8.5 million by Beckwith's widow, Valerie, after she struck a deed of settlement with his bankruptcy administrators. The buyer, the shopping centre developer Jack Bendat, who has just taken over the reins at the Perth Wildcats, sold it for $9.15 million in 1999.
It was bought by Michael Boyd, who built his fortune through Sonic Healthcare. Boyd hived off the riverfront croquet garden for $5.6 million in 2004 and then the house for $7 million in 2005.