Wolseley Road is Australia’s most expensive street, and one of the 10 most exclusive streets in the world.
It’s in Point Piper in Sydney’s east – a suburb also home to Prime Minister Malcolm Turnbull, as well as more of 2017’s Rich List than any other suburb.
Meet Point Piper’s cheapest listing – a car space for $130,000.
Apartments in the street have scored multimillion-dollar prices of late, with 6/45 Wolseley Road selling for $4.9 million in March and investment banker Paul Uren paying $15 million for a waterfront duplex in the street last year.
But for those with shallow pockets there’s finally a way to buy in, with a tiny slice up for grabs.
Yes, it’s a car space – but arguably, a competitively-priced one. At $130,000 (or the nearest offer) it’s cheaper than the Potts Point space in “The Chimes” building that sold for $222,000 in June, and the $190,000 paid for another Potts Point space, in Challis Avenue, in February.
And it pales in comparison to the $400,000 asking price for a city car space in the Mantra 2 Bond Street complex in May.
The 20-square-metre spot has direct street access, according to agent Danny Doff from Laing+Simmons Double Bay. The owner has moved overseas and no longer needs the space, he said.
He said that while in Bondi such a carpark might fetch somewhere between $200,000 and $250,000, it was hard to find parking along Wolseley Road and there was already interest from local residents.
Well-heeled Point Piper has seen some spectacular sales.
“I don’t imagine it’ll be on the market for long,” Mr Doff said. “There’s a guy who wants an extra garage to put some bikes in and another lady who has a teenager who wants somewhere to put a car away.”
The last reported non-car park sale in the building was Unit 2, which sold for $1.25 million via private treaty in 2010.
Tightly-held Point Piper has seen some fairly spectacular sales this year, including the $70 million price paid for the Fairfax family’s Elaine estate to Atlassian founder Scott Farquhar, and the $33 million sale of Karyn Zamel’s glass-fronted home to Neville Crichton earlier in January.
The block on Wolseley Road. Photo: Google Street View
Domain Group data puts the average price of a home in the suburb at $17,206,460 based on nine sales in 2017, up from $11,593,750 in 2016 (also with just nine sales). The Sydney median over the September quarter was $1,167,516, according to Domain’s latest State of the Marketreport.