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Royal Australian Naval Commander’s Longtime Home Hits Market for A$50M

The waterfront mansion has a private sea pool and a boat house

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A Victorian Italianate mansion in Sydney’s Elizabeth Bay, home to the officer-in-command of the Royal Australian Navy for over a century, has hit the market with an aspirational price of A$50 million (about US$39.65 million).

Dubbed Tresco, the estate was built in 1868 by noted Australian architect Thomas Rowe, featuring a sandstone exterior, a slate roof, bay windows and cast-iron balustrading.

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The government of New South Wales procured the property in 1902 to be used as a residence for its Naval Officer-in-Command at Garden Island in Sydney until 2004, when it was sold to a private buyer, according to Ken Jacobs at Christie’s International Real Estate, who co-listed the property with Brad Pillinger at Pillinger Real Estate earlier this week.

"There is a certain irony that whilst being located in the most densely populated square mile in the southern hemisphere, Tresco is one of Sydney’s most historic and beautifully preserved waterfront estates, offering a sense of space and tranquility so rare in cosmopolitan Sydney," Mr. Jacobs said.

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The nine-bedroom estate has a total of 3,326 square meters (about 35,800 square feet). Outdoors, the ultimate waterfront amenities include a private sea pool, a jetty, boat house and three deepwater moorings.

The current owners, bookmaker and financial investor David Waterhouse of famed racing clan, and his wife Janette, bought the property in 2004 for A$11 million (US$8.7 million), public records show. They couldn’t immediately be reached for comment.