Marist Brothers waterfront estate may have broken Drummoyne record
The Marist Brothers have claimed one of the highest sales ever in Sydney’s inner west after selling a historic waterfront estate.
On 3000sqm in Drummoyne, Melton, had a $12 million guide and sold in a secret deal following an expressions of interest campaign.
The Agency’s Tony Laing and Michael Laing were unable to speak about the sale and could not confirm to the Inner West Courier the sale price or if it sold around the guide.
If it did sell around the guide, it means 14 Drummoyne Ave could challenge the $12.2 million Drummoyne record set by hotelier and race car driver Rod Salmon in 2017.
Melton could also be in the top three highest sales recorded for an inner west residential property, with the current record set last year after property developer John Gobbo paid $14.25 million for a waterfront mansion in Birchgrove.
A religious order of the Catholic Church, the Marist Brothers have owned the Drummoyne compound for 70 years. It comprises of a three-storey mansion and another two-storey building, and has been used as a residence and offices of the order.
The property sits on the Parramatta River and is one of the largest private landholdings in the inner west.
While the identity of the buyer remains unknown, a mixture of trophy home hunters and developers are believed to have shown interest. The property has R3 Residential zoning, which permits the owner to build a mansion or explore options such as a school, accommodation or residential redevelopment.
Melton was marketed as “a never to be repeated opportunity” with a roof top turret offering views of the Sydney skyline and over the Parramatta River.
Property records reveal the Drummoyne property, which occupies four titles, had been under the ownership of the Trustees of the Marist Brothers who also own at least 80 other properties, from a one-bedroom apartment in Potts Point to a number of schools.
It is understood the order’s focus as a property player is to provide accommodation for retired and ageing brothers.
The original three-storey Federation home has a wealth of character features and is configured to feature several sittings rooms, two kitchens, a TV area and a chapel.
The second building has 12 bedrooms, a library and a floor dedicated to offices. Other features include manicured gardens with a level waterfront lawn area, a boatshed and an enclosed tidal pool that is subject to a RMS lease.
Marist Brothers is an international religious order founded in 1817 by a French priest.
This article from the Inner West Courier originally appeared as “Marist Brothers claim one of the inner west’s highest sales ever after selling landmark estate”.