Sunday, October 16, 2011

Palm Beach shack For Sale

Every summer a flock of paparazzi set out for ritzy Palm Beach at the very furthest end of Sydney's northern peninsular where local and international celebrities spend their lazy days in the handful of mansions available in the area.

Now the most famous house that usually hosts an international star over summer is up for sale-Kalua, the magnificent property owned by businessman Ian Joye can be yours for an asking price of over $25M.

The 1920s Caribbean style beach house is actually three separate houses on about 5,500sqm in the cul-de-sac at the prestigious southern end of the beachfront, nestled among the lush vegetation of historic Cabbage Tree Boat Harbour with filtered views direct across to the beach, bordered by tall Pines.

Only HRH Prince Charles' friend Bob Rose has a better property being right at the end with commanding views over the beach.

Kalua was once owned by the Horden department store family (they all had Palm Beach houses in the 1930s-the Graces, the Lloyd Jones while the Myers opted for Sorrento in Victoria ). Gazing over the azure waters of the Pacific it's secluded amid magnificent sprawling grounds and really hearkens back to a more stylish era when Eastern Suburbs' families would motor down for the week end and jostle over who could host the smartest  garden party.

These days Palm Beach is a bit of a film colony with Oscar winning director Peter Weir, actors Bryan Brown and Racheal Ward and Sam Neil all living in the area while the North Palm Beach Surf Club is used as a set for Home &Away.

Those who have rented Kaluha for $40,000 a week include Mick Jagger, John Cleese, Bono, Nicole Kidman,Tom Cruise, Rupert Murdoch, Paul McCartney and Billy Connolly.

If you are short on cash the vendor is offering 60% finance which means you could look forward to a monthly mortgage of about $120,000.