Mediterranean-style Portsea pad sells twice in 12 months
A glamorous Portsea property with a touch of the French Riviera has sold for the second time in a year.
The 3732 Point Nepean Rd home, described as an “iconic limestone chateau” dating from the early 1900s, changed hands on April 1 for an undisclosed multimillion-dollar sum.
The vendors owned it for just 12 months, having paid $6.1 million for it last April, according to sales records.
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The four-bedroom, four-bathroom home on 975sq m was listed in 2018 with a $7 million price tag but the end result fell short of that sum.
RT Edgar Portsea agent Ilze Moran declined to disclose the details of the recent sale, with the property advertised with a $6.5-$7 million price guide.
It is understood the sale was prompted by a change of plans for the owners.
The tri-level property had been extended and given a Mediterranean makeover by previous owners who travelled regularly to France, Ms Moran said.
“They loved that look and feel and were keen to replicate it,” Ms Moran said.
“It’s all been done sympathetically to the original structure and the surroundings.”
A large underground cellar is a highlight of the residence which also features vaulted ceilings, exposed beams and limestone walls.
It also boasts a pool and takes in vistas over Weeroona Bay and Portsea Pier from north-facing terraces. It also has direct beach access.
The Portsea median house price was $2.05 million in the year to last December, according to CoreLogic figures. The median price rose 5.8 per cent during the period with just 44 sales reported.
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