A 1970s riverfront home in Dalkeith has been sold for $16.5 million, WA's highest residential sale price for this financial year.
A 1970s riverfront home in Dalkeith has been sold for $16.5 million, WA's highest residential sale price for this financial year.
Tzu Chao Pan and Beng Choo Lim sold the five bedroom, five bathroom house on 26 Jutland Parade through William Porteous Properties International.
Dalkeith-based real estate agent and director William Porteous sold the property, which boasts 2,372 square metres, to Anna Katarzyna Fry and Matthew James Fry in April.
Mr Porteous confirmed the price was the highest residential sale so far in this financial year.
“I’ve sold about four houses on Jutland Parade in the last year and they’re all younger people, in their mid-40s,” he said.
“They’ve got a lot of money and they’re all buying the blocks, and they’re all going to be spending $15 to $20 million building new houses.
“It used to be best street in Australia in the 80s and there was a lot of foreign money that at that time, poured onto the street. Chronologically, people get older, and they don’t get houses that big and they sell.
“Now is the time that they’re selling it and the new group of younger people are buying the properties and building the new houses.”
ASIC documents show that Mr Fry is a director and shareholder of AM Diagnostics, a Perth-based supplier and importer of rapid antigen tests.
Mr Porteous said the property had been on the market on and off for five years before suggesting it for the Frys and their children.
“The owner I know quite well and I just said to her, if she didn’t give me the listing I wasn’t going to work on it in a conjunctional manner," he said.
“So she gave me the listing and I was showing a property in Peppermint Grove to the Frys and they were talking about that (26 Jutland).
“I knew a lot about the property so I was able to explain to the purchasers what was going on and they bought it, they’re very happy and they’re going to pull the house down and build a new one.”
The property was last sold in 1998 for $3.7 million.
The Frys will be the newcomer in a line-up of millionaires living along Jutland Parade.
Meredith Jane McGarry, who spearheads property development company Yuki Yama, settled on a 1,969 square metre lot at 52 Jutland Parade late last year.
The site was understood to have been purchased from JJ Leach Group Founder Jeff Leach in a private sale.
Former WA governor Malcolm McCusker and his wife, Tonya, lived in a six-bedroom home on Jutland Parade since buying it for $20 million about 12 years ago.
Wealthy Singaporean businessman ABdul Rahim Valibhoy reportedly lives on the other side.
The block is also a short walk from the home of media mogul and billionaire Kerry Stokes.
Business News previously reported that the street was also home to Chinese-Indonesian billionaire heir and businessman Michael Hartono, APM Human Services International foudner Megan Wynne and the Franco family estate.
