Second Palm Beach Scali family acquisition along Snapperman Beach
The Nick Scali furniture retail family, not only emerged as the $7.5 million buyer of Bukutilla, the seven bedroom home on Snapperman Beach at Palm Beach late last year, but now has bought the adjacent holding.
Both properties, on Sydney's northern beaches peninsula, were bought from property developer Denis O'Neil who sold his Walter Barda-designed house on Iluka Road (pictured above) mid-2013.
The adjoining caretaker's cottage and garage on 590 square metres had remained listed through LJ Hooker Palm Beach agents David Edwards and Peter Robinson.
It was October 2012 when the expanded trophy offering first hit the market and O'Neil, the keen yachtsman, offered the 1112 square metre holding with $14 million plus hopes for the pair.
That was $8 million plus for the large residence and more than $6 million for the adjacent block. ?The main house was bought in the name of Elliott Scali, the online project management at Nick Scali Furniture, the young son of Anthony and Donna Scali.
The recent smaller block purchase was snapped up at $4.43 million in the name of Nic Scali.
RP Data puts the suburb's median house price at $2.15 million, up 30% over the year, a reflection of the increased sales activity rather than any price fillip.
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