Waterfront mansion could set Australian record

One of Australia's rarest properties – a 3731sqm mansion set on 81 metres of water frontage in Sydney's exclusive suburb of Vaucluse – is on the market for the first time in 25 years and is hoping to set a new Australian record.

Hoping for a tidy $71 million, the palatial home, known as Phoenix Acres, has six bedrooms, six bathrooms, a pool and tennis court, as well as a boathouse and jetty.

The current owner, Singaporean businessman Mr C K Ow, told realestate.com.au the house was more than just a waterside home. "It's a seaside resort self-sufficient with all country club amenities.

"Sadly, I do not spend sufficient time there to enjoy this jewel of a property as my travels take me to many other far reaches of the world."

The agent selling the property, Ray White Double Bay director Craig Pontey, said there was nothing like the extraordinary house on the market.

"What we have on offer is a true deep waterfront access home on nearly an acre of land in Vaucluse. It is nearly impossible to get an acre of land around the harbour in Sydney."

According to Mr Pontey, Phoenix Acres is in better condition than Double Bay mansion 'Elaine' which set a national record in April when it sold for $71 million.