The record-breaking sale of 12 Dumaresq Road for $55 million has shattered the Rose Bay house price record by $5 million, establishing a new benchmark for the prestigious harbour suburb. The Bruce Stafford-designed residence sold after a significant $20 million price reduction from its original $75 million asking price.
This transaction decisively surpasses the previous Rose Bay record of approximately $50 million set in 2018 when Brett Blundy’s Bayview Hill Road property was purchased by Lawrence and Sylvia Myers. Both record sales were handled by the same agency, Pillinger.
The property’s prime location offers direct access to Dumaresq Reserve and the waterfront, positioning it among Rose Bay’s most coveted addresses. With panoramic harbour views extending to the Sydney Harbour Bridge and city skyline, the six-bedroom mansion exemplifies the high-end architectural style that has increasingly defined Rose Bay’s premium real estate market.
Originally purchased for $26.9 million in 2014 by businessman Frank Qiang Geng and Juanjuan Zhao, the property has more than doubled in value over the past decade, highlighting Rose Bay’s strong performance in Sydney’s luxury property sector.
The sale comes as Geng and Zhao prepare to move to Point Piper following their purchase of the waterfront mansion “Rockleigh” for approximately $82 million, suggesting continued movement within Sydney’s eastern suburbs premium market.
While sales agents Brad Pillinger and Michael Pallier declined to comment on the transaction, the listing’s removal from realestate.com.au indicates the deal has been finalised after an earlier agreement at the reduced price reportedly fell through.
Published 21-February-2025
