10 May 2023 | 1 mins

Tamarama home listed for $50m sold, eclipsing coastal record - Financial Review

Tamarama home listed for $50m sold, eclipsing coastal record - Financial Review

One of Australia’s most significant coastal properties, Lang Syne, has sold after seven months on the market. The exact price remains undisclosed, but it was believed to be close to the bottom end of the $47 million-to-$52 million guide.

The sale has eclipsed records for both Tamarama and Sydney’s coast. The suburb’s previous high was $29.2 million; Bronte recently clocked a circa $30 million sale when AirTree co-founder Craig Blair bought Cygnet Capital’s Darien Jagger’s Tipper Avenue home.

Forbes

Dimity Griffiths has sold her iconic Tamarama home, Lang Syne.

Dimity Griffiths, Lang Syne’s 82-year-old owner, has lived in the 1920s Californian bungalow for 63 years. Her late husband, radio comedian Harry Griffiths, purchased the 1100 square metre landholding for £9750 in 1959.

“It’s been a wonderful part of our lives for so long, and the sale marks the end of an era,” said a statement issued by the family of the home, located on the headland between Tamarama Beach and Mackenzies Bay.

The buyer is yet to be identified, and gag orders surround the sale. Selling agent, Forbes’ Ken Jacobs, declined to comment, while Cohen Handler’s Simon Cohen, who is understood to represent the buyer, was not immediately available for comment.

Forbes

Lang Syne is located on the headland between Tamarama Beach and Mackenzies Bay.

Prestige agent Sotheby’s Michael Pallier, who recently negotiated two significant sales – one for $69 million in Point Piper and another in Vaucluse for $40 million – says the expat-driven prestige market remains strong.

“This year we have expats, migration and a low dollar,” Mr Pallier said. “Also, there are not many properties at the top end available for sale.”

The veteran prestige agents believe the Lang Syne purchase represents good value.

“To buy 1100 square metres in Tamaramara, the smallest suburb in Sydney, north facing on the water – it’s a pretty reasonable buy. It’s one of one, it’s a unique property,” Mr Pallier said.