Ken Jacobs Exceeds Australian Residential Records with Three Sales in August and September Totaling Over $97 Million

Posted by — September 15, 2015

1442343940DOUBLE BAY, NSW AUSTRALIA - Board of Regents member Ken Jacobs exceeded existing Australian residential records by more than 25% with the sale of the Packer residence in Vaucluse in August, with media outlets reporting a sale price of $70 Million. In September they exceeded the Hunters Hill residential record by over 65% with the sale of Cate Blanchett’s home, reportedly sold for around $20 Million. Last week they set a new record for Kiama Heights with the recorded sale of Pebble Cove Farm at $7.3 Million.

Media outlets report that the Packer residence was sold for around $70 Million, the highest ever for a property in Australia. The Packer estate occupies a total landholding of 3,700 square metres, with six bedrooms, parking for 20 cars and other high-end features including a wellness room, a 20-seat cinema, staff quarters and a sprawling gym and sauna complex.

Cate Blanchett’s home, Bulwarra, sold for around $20 Million, media reports claim, which exceeds property records for Hunters Hill by over 65%. The historic mansion in the lower North Shore suburb of Hunters Hill was significantly expanded and updated by Blanchett and her husband Andrew Upton. The boldly unconventional but undeniably deft overhaul reportedly cost the Upton-Blanchetts an estimated AUS $8 million and just about doubled the size of the original, circa 1877 sandstone manor house with the addition of an impressively modern, glass-fronted wing linked by a central stair hall with sculptural steel staircase.

A bold feat of architecture and engineering, Pebble Cove Farm is perched on a dramatic coastal headland and offers total seclusion and privacy. Unquestionably one of the South Coast’s most impressive private residences, the new structure takes pride of place on a 38.12 hectare oceanfront working cattle farm with direct access down to the cove. The expansive residence is constructed in a V shape around a sheltered courtyard, pool and sprawling cultivated garden. The property sold for $7.3 Million, a record for Kiama Heights.

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