$57.5m for Bennett mansion unsurprising

The head of Western Australia's real estate institute was unsurprised to learn of the massive price paid out for the purchase of iron ore heiress, Angela Bennett's Mosman Park mansion, reportedly a national record at $57.5 million.

Real Estate Institute of Western Australia president, Alan Bourke said he knew the sale (to Mineral Resources boss Chris Ellison) had taken place in recent weeks but was unaware of the exact figure received for the palatial property.

"The number reported (a few weeks ago) was $56 million, so to hear it went for $57.5 million is a great sign," Mr Bourke told WA Business News.

"It's a great indication that the top end of the market here in Western Australia is so healthy."

Mr Bourke said the huge land holding at the site on Saunders Street as well as the 180 degree panoramic views, top location and other factors would all have added to the price tag.

"It's an unbelievable property," he said.

"We've got some significant real estate land values here in WA.

"Perth has always boxed above its weight with top end sales.

"Mosman Park and Peppermint Grove compare to Double Bay and Point Piper in Sydney for high end property values.

"It really shows the shift of the concentration of wealth into WA."

Calls to William Porteous, the agent responsible for the sale, were not returned to WA Business News.

Coincidentally, Mr Porteous is the husband of Rose Porteous, whose former husband Lang Hancock was the business partner of Peter Wright, Ms Bennett's father.