Point Cook has its first $3m home — and then some.
The glitzy waterside mansion straight out of a Miami movie at 19 Panorama Way, Sanctuary Lakes, has changed hands for a massive $3.2m in a private deal.
It’s the third time the house has set a new record for the outer western suburb, reclaiming the title after a hot opening half to 2021 in which that bar has been raised several times.
Sanctuary Lakes Real Estate director Fadi Saad has sold the dazzling four-bedroom pad on each occasion, and had it listed this time around for $3.3m-$3.5m.
It previously sold for $2.1m in 2013 and $2.33m in 2017 — marking an impressive gain for the vendors of $870,000 in just four years with this sale, without really lifting a finger.
“The buyers loved everything about the property — they just thought it was something very unique. They loved the location,” Mr Saad said.
“They felt it was a property that wasn’t comparable to anything else and if you didn’t buy this one you couldn’t go and buy something similar. It’s a very exclusive style of property: the position, the lake view, the fixtures and fittings; the entire package was a good deal for them and they increased their budged significantly to buy it because it was so different and special.”
An underground garage, swanky lakeside swimming pool with giant Buddha head, lush outdoor entertainment area and bar, and custom-made teardrop crystal chandelier are among the perks, as well as a slick fully stainless steel kitchen with three ovens.
The first floor is devoted entirely to the main bedroom suite and inspired by luxury hotels, with a motorised drop down projector and screen, walk-in robe and ensuite with dual vanities.
Head upstairs again to the ‘red room’ lounge area, reminiscent of a city club somewhere.
Mr Saad said the vendors had done “very little” to the property during their ownership and the massive sale was a reflection of the suburb’s market powering ahead.
He sold a 2506sq m vacant block at 32 Greg Norman Drive for a then suburb record of $2.9m at auction on May 1, raising the bar from recent record house sales of 22 Greg Norman Drive, $2.7m, and 9 Heron Way, $2.8m off market, in April, all of which he negotiated.
“I think what this is telling us is there is confidence in our marketplace,” Mr Saad said.
“People do see value and they do see the long term growth potential of the area, whereas in the older days it was a lot harder to convince someone to spend $1m, $2m, $2.5m — we’ve now got the first $3m-plus sale in the area and I think that could be the start of the next era.”
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