Terrace jackpot! This home quadrupled in price in over a decade
The landmark five-storey property at 157 Victoria Street, was once a dilapidated boarding house, but has since been transformed into one of the most impressive private homes in inner Sydney.
Sold this month through Bresic Whitney, the sale highlights the extraordinary capital growth seen in tightly held areas of the eastern suburbs over the past decade.
With over 360 square metres of internal space, a 6-metre-plus frontage, and rare uninterrupted views of Sydney's city skyline, Harbour Bridge and Opera House, the property represents a rare convergence of scale, location and prestige.
View.com records show it last sold for $2,450,000 in 2012, before the current boom in demand for high-end, inner-city living hit its stride.
Located at the top of Victoria Street, an enclave locals refer to as the "Parisian end" for its leafy streetscape and village-like charm, the home sits among some of Sydney's most desirable addresses.
A canopy of London Plane trees, historic architecture, and proximity to celebrated dining spots like Ms G's and The Butler create a European-style ambience in the heart of the city.
View.com.au property expert and CEO of Cohen Handler Buyer's Advocates, Simon Cohen, said:
"It's an absolute beauty!
"My favourite part of the house is the wine cellar stocked with some great reds, and the kitchen which is modern and sleek and offsets the style of this Victorian terrace and brings it into the modern world."
The residence has been completely reimagined with a focus on luxury and light.
Multiple outdoor entertaining areas with views over Cowper Bay to the CBD, elegant interiors, and thoughtful restoration details blend 19th-century character with contemporary design.
Perhaps the property's most impressive feature is its exclusive outlook. It backs directly onto Embarkation Park, one of the city's hidden green spaces perched above Woolloomooloo Wharf.
With panoramic views extending across to harbour icons, the terrace offers a front-row seat to New Year's Eve fireworks and access to a peaceful park sanctuary year-round.
Cohen agrees: "The best part of the house is this epic terrace with the quintessential Sydney view."
Access to the city is just as spectacular. The Butler and McElhone heritage staircases are cut into the cliff, providing locals with a sneaky shortcut to the Domain, galleries, and harbourside paths and an excellent workout with a view.
In a suburb dominated by compact apartments and smaller terraces, homes of this scale are almost never available.
Agent Chris Breedon of Bresic Whitney East, who handled the sale, said of the property: "It's rare to find a property of this size and quality in Potts Point."
Breedon also revealed that the sale was the result of a longstanding relationship with the buyers, which ultimately made the deal possible. "The buyers were previous clients of mine," he said.
"Back in January they mentioned they were looking to upsize locally, and asked me to keep them in mind if the right place came up. If it did, they wanted to be among the first to know."
That opportunity came in March when the home was due to launch to market. Breedon immediately notified a shortlist of interested parties, including the eventual buyers, though they were overseas at the time.
"I wanted to show them straight away, but the timing didn't work," he said. "The home went to market but didn't find the perfect buyer. The owners were happy to be patient until it felt that way, so we paused the campaign."
The property remained on Bresic Whitney's private sales portal, which showcases exclusive listings not available elsewhere, keeping it visible to qualified buyers throughout the agency's network.
When the buyers returned from Europe over winter, the conversation picked up where it left off.
"They specifically asked if they could see the home and over about a fortnight they visited it several times,"
Breedon said. "They weren't active buyers in the traditional sense, but they'd remembered the home. And now, the timing was right."
With very few properties offering this combination of heritage, luxury, and views, it's little wonder one buyer was willing to pay a premium, and the vendor walked away with a multimillion-dollar windfall.
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"Even though we live with shattered dreams, we must keep looking to the future." 13YARN 13 92 76 Lifeline 13 11 14 While some welcome the prime minister's focus on economic empowerment of Aboriginal and Torres Strait Islander people, others brand it a further step from truth-telling. Anthony Albanese has used his address at the Garma Festival in northeast Arnhem Land to unveil an economic partnership with the Coalition of Peaks and First Nations Economic Empowerment Alliance. "This builds on our commitment to the Closing the Gap Agreement, to its call for a new way of doing business and to the principle of shared decision-making," he told the festival audience at Gulkula in the Northern Territory on Saturday. The approach will allow traditional owners to advocate for infrastructure, housing and energy projects on their land and build equity beyond the land itself. 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"Even though we live with shattered dreams, we must keep looking to the future." 13YARN 13 92 76 Lifeline 13 11 14 While some welcome the prime minister's focus on economic empowerment of Aboriginal and Torres Strait Islander people, others brand it a further step from truth-telling. Anthony Albanese has used his address at the Garma Festival in northeast Arnhem Land to unveil an economic partnership with the Coalition of Peaks and First Nations Economic Empowerment Alliance. "This builds on our commitment to the Closing the Gap Agreement, to its call for a new way of doing business and to the principle of shared decision-making," he told the festival audience at Gulkula in the Northern Territory on Saturday. The approach will allow traditional owners to advocate for infrastructure, housing and energy projects on their land and build equity beyond the land itself. 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The Newcastle Cruising Yacht Club will be the beneficiary of $5 million in state funding to expand its berthing marina to accommodate up eight luxe superyachts in a move that it promises will be a boon for the regional tourism economy. Club CEO Paul O'Rourke said there were about 30 superyachts owned in Australia, but the country was a premier destination for repair and vessel maintenance in the Southern Hemisphere such that it was expected to account for some eight per cent of the global market by the end of the year, amounting to around 533 vessels. The funding is expected to be put towards building 200 metres of dedicated marina berth that is specifically designed to accommodate the larger vessels, with extra weight and power facilities. The move to expand the Newcastle marina on Hannell Street is expected to put Newcastle in a competitive stead with Queensland, long regarded as the Australian home for superyacht construction, and will represent the only such dedicated maintenance berth in NSW. Mr O'Rourke said, while Newcastle would not build the vessels, positioning the city as a maintenance hub for the yachts that are estimated to cost between $2 million and $5 million a year to run, would unlock the Pacific for European travellers and see tourism spending flow through the Hunter. "There are probably over 30 superyachts in Australia at the moment," he said. "But the key is there are 100 coming. There are a lot of superyachts in Europe that all want to come to Australia and the Pacific, and at the moment we don't have the Pacific facilities." "We regularly get phone calls from boats out in Tahiti that want to come to Australia and park up. We haven't got the facility yet." Minister for the Hunter Yasmin Catley said the NSW Government's investment of $5 million, to which the Newcastle yacht club would add 20 per cent of the overall $6 million build costs, made sense for the state's second city. "We are a maritime city," she said. "So, it makes sense for us to can have those yachts that can travel from as far far as Europe on their way up to Northern Queensland and to further places into the Pacific." "This will become their go-to stopover." The yacht club's Commodore, Barry Kelly, said the completed projected which is estimated to be about two years away, would be equipped to provide "medium-level" maintenance to the vessels, replacing parts and servicing engines and complex onboard systems, that would generate jobs in the region. "Superyachts spend about four times as much in the region as they do on the berthing," he said. "Our spend on maintaining this facility in the last financial year was about $800,000." The funding has been carved out of the NSW Regional Development Trust, which Regional NSW Minister Tara Moriarty said was to prop up merit-based projects that would create jobs and economic boons for regional economies. "We have made a big deal out of this new fund and this new way of investing in our regions," she said. "This is really going to make a big difference for the local economy." The $70 million Callisto - believed to have been the largest and most expensive yacht to visit Newcastle - was spotted in the marina in 2019. lt is owned by Barbados billionaire Derrick Smith who was reportedly a co-owner of the renowned Coolmore Stud, which has operations in the Upper Hunter, Ireland and the US. The Australian superyacht sector is estimated to have a fleet value of over $7.5 billion, with annual maintenance expenditure of over $575 million. Operational expenditure in Australia, including crew wages and berthing, is worth about $400 million. A proposal document for the project, seen by the Newcastle Herald, lists more than 400 vessels over 30 metres based in the Asia Pacific. The industry is said to support about 14,500 full-time jobs, paying about $1.2 billion in wages and salaries, and with Sydney reaching capacity, overflow was being directed to Queensland and Victoria. The yacht club's pitch to secure funding amounted to positioning Newcastle to cater to provide a state's-first and one-stop shop for the super rich to dock and have their vessels serviced, estimated to represent up to 1400 jobs. According to Superyachts Australia, the number of luxury vessels in NSW has increased by 52 per cent since 2021, with 17 accounted for in 2023. The economic impact of a visiting vessel was estimated to be about $1.34 million that year. The Newcastle Cruising Yacht Club will be the beneficiary of $5 million in state funding to expand its berthing marina to accommodate up eight luxe superyachts in a move that it promises will be a boon for the regional tourism economy. Club CEO Paul O'Rourke said there were about 30 superyachts owned in Australia, but the country was a premier destination for repair and vessel maintenance in the Southern Hemisphere such that it was expected to account for some eight per cent of the global market by the end of the year, amounting to around 533 vessels. The funding is expected to be put towards building 200 metres of dedicated marina berth that is specifically designed to accommodate the larger vessels, with extra weight and power facilities. The move to expand the Newcastle marina on Hannell Street is expected to put Newcastle in a competitive stead with Queensland, long regarded as the Australian home for superyacht construction, and will represent the only such dedicated maintenance berth in NSW. Mr O'Rourke said, while Newcastle would not build the vessels, positioning the city as a maintenance hub for the yachts that are estimated to cost between $2 million and $5 million a year to run, would unlock the Pacific for European travellers and see tourism spending flow through the Hunter. "There are probably over 30 superyachts in Australia at the moment," he said. "But the key is there are 100 coming. There are a lot of superyachts in Europe that all want to come to Australia and the Pacific, and at the moment we don't have the Pacific facilities." "We regularly get phone calls from boats out in Tahiti that want to come to Australia and park up. We haven't got the facility yet." Minister for the Hunter Yasmin Catley said the NSW Government's investment of $5 million, to which the Newcastle yacht club would add 20 per cent of the overall $6 million build costs, made sense for the state's second city. "We are a maritime city," she said. "So, it makes sense for us to can have those yachts that can travel from as far far as Europe on their way up to Northern Queensland and to further places into the Pacific." "This will become their go-to stopover." The yacht club's Commodore, Barry Kelly, said the completed projected which is estimated to be about two years away, would be equipped to provide "medium-level" maintenance to the vessels, replacing parts and servicing engines and complex onboard systems, that would generate jobs in the region. "Superyachts spend about four times as much in the region as they do on the berthing," he said. "Our spend on maintaining this facility in the last financial year was about $800,000." The funding has been carved out of the NSW Regional Development Trust, which Regional NSW Minister Tara Moriarty said was to prop up merit-based projects that would create jobs and economic boons for regional economies. "We have made a big deal out of this new fund and this new way of investing in our regions," she said. "This is really going to make a big difference for the local economy." The $70 million Callisto - believed to have been the largest and most expensive yacht to visit Newcastle - was spotted in the marina in 2019. lt is owned by Barbados billionaire Derrick Smith who was reportedly a co-owner of the renowned Coolmore Stud, which has operations in the Upper Hunter, Ireland and the US. The Australian superyacht sector is estimated to have a fleet value of over $7.5 billion, with annual maintenance expenditure of over $575 million. Operational expenditure in Australia, including crew wages and berthing, is worth about $400 million. A proposal document for the project, seen by the Newcastle Herald, lists more than 400 vessels over 30 metres based in the Asia Pacific. The industry is said to support about 14,500 full-time jobs, paying about $1.2 billion in wages and salaries, and with Sydney reaching capacity, overflow was being directed to Queensland and Victoria. The yacht club's pitch to secure funding amounted to positioning Newcastle to cater to provide a state's-first and one-stop shop for the super rich to dock and have their vessels serviced, estimated to represent up to 1400 jobs. According to Superyachts Australia, the number of luxury vessels in NSW has increased by 52 per cent since 2021, with 17 accounted for in 2023. The economic impact of a visiting vessel was estimated to be about $1.34 million that year. The Newcastle Cruising Yacht Club will be the beneficiary of $5 million in state funding to expand its berthing marina to accommodate up eight luxe superyachts in a move that it promises will be a boon for the regional tourism economy. Club CEO Paul O'Rourke said there were about 30 superyachts owned in Australia, but the country was a premier destination for repair and vessel maintenance in the Southern Hemisphere such that it was expected to account for some eight per cent of the global market by the end of the year, amounting to around 533 vessels. The funding is expected to be put towards building 200 metres of dedicated marina berth that is specifically designed to accommodate the larger vessels, with extra weight and power facilities. The move to expand the Newcastle marina on Hannell Street is expected to put Newcastle in a competitive stead with Queensland, long regarded as the Australian home for superyacht construction, and will represent the only such dedicated maintenance berth in NSW. Mr O'Rourke said, while Newcastle would not build the vessels, positioning the city as a maintenance hub for the yachts that are estimated to cost between $2 million and $5 million a year to run, would unlock the Pacific for European travellers and see tourism spending flow through the Hunter. "There are probably over 30 superyachts in Australia at the moment," he said. "But the key is there are 100 coming. There are a lot of superyachts in Europe that all want to come to Australia and the Pacific, and at the moment we don't have the Pacific facilities." "We regularly get phone calls from boats out in Tahiti that want to come to Australia and park up. We haven't got the facility yet." Minister for the Hunter Yasmin Catley said the NSW Government's investment of $5 million, to which the Newcastle yacht club would add 20 per cent of the overall $6 million build costs, made sense for the state's second city. "We are a maritime city," she said. "So, it makes sense for us to can have those yachts that can travel from as far far as Europe on their way up to Northern Queensland and to further places into the Pacific." "This will become their go-to stopover." The yacht club's Commodore, Barry Kelly, said the completed projected which is estimated to be about two years away, would be equipped to provide "medium-level" maintenance to the vessels, replacing parts and servicing engines and complex onboard systems, that would generate jobs in the region. "Superyachts spend about four times as much in the region as they do on the berthing," he said. "Our spend on maintaining this facility in the last financial year was about $800,000." The funding has been carved out of the NSW Regional Development Trust, which Regional NSW Minister Tara Moriarty said was to prop up merit-based projects that would create jobs and economic boons for regional economies. "We have made a big deal out of this new fund and this new way of investing in our regions," she said. "This is really going to make a big difference for the local economy." The $70 million Callisto - believed to have been the largest and most expensive yacht to visit Newcastle - was spotted in the marina in 2019. lt is owned by Barbados billionaire Derrick Smith who was reportedly a co-owner of the renowned Coolmore Stud, which has operations in the Upper Hunter, Ireland and the US. The Australian superyacht sector is estimated to have a fleet value of over $7.5 billion, with annual maintenance expenditure of over $575 million. Operational expenditure in Australia, including crew wages and berthing, is worth about $400 million. A proposal document for the project, seen by the Newcastle Herald, lists more than 400 vessels over 30 metres based in the Asia Pacific. The industry is said to support about 14,500 full-time jobs, paying about $1.2 billion in wages and salaries, and with Sydney reaching capacity, overflow was being directed to Queensland and Victoria. The yacht club's pitch to secure funding amounted to positioning Newcastle to cater to provide a state's-first and one-stop shop for the super rich to dock and have their vessels serviced, estimated to represent up to 1400 jobs. According to Superyachts Australia, the number of luxury vessels in NSW has increased by 52 per cent since 2021, with 17 accounted for in 2023. The economic impact of a visiting vessel was estimated to be about $1.34 million that year.
7NEWS
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- 7NEWS
Working from home could be a legal right for millions of Aussies under new plan
A state government has revealed plans to enshrine the right to work from home for both public and private-sector employees. The premier behind the Australian-first push hails its as the next frontier in worker rights that would benefit working parents. However a legal right to work from home would be divisive and likely send jobs elsewhere, business groups say. The Victorian government has promised to introduce legislation in 2026 for the right to work from home on two days per week, in contrast to other states that want public servants to spend more time in the office. The proposed law would apply to all public and private sector employees in Victoria who can reasonably do their job from home. Details are yet to be worked through and Premier Jacinta Allan signalled the changes could come into effect under Victoria's Equal Opportunity Act, as private workplaces are regulated by federal laws. Allan promoted the plan as beneficial to both the economy and families, likening it to other significant workplace changes in recent decades including more women entering the workforce. 'There's been many, many gains over many, many generations that have supported women's opportunity to increase their workforce participation, this is just another important, big step,' she told reporters. Issues such as the definition of remote work, who can do it, how it would affect part-time workers and the types of businesses to which the law would apply, will be figured out through a consultation process. Allan said the decision had gone through cabinet and brushed off suggestions it could trigger a court challenge. The plan drew sharp criticism from business groups, with Australian Industry Group Victorian head Tim Piper describing it as serious government overreach that undermines business autonomy. He described it as 'pure political theatre' designed to wedge the opposition while also running counter to both global trends and business best practice. 'These policies foster an 'us versus them' dynamic, privileging some white-collar workers while leaving blue-collar employees with no choice,' he said. 'It's divisive, disruptive, and dangerous.' Victorian Chamber of Commerce and Industry chief executive Paul Guerra claimed businesses would move interstate and jobs would be lost if Victoria moved away from the legislated national system. '(Work from home) certainly works well in some contexts, but that should be determined by the employer in consultation with the employee,' he said. Allan promised to introduce the law in 2026 prior to the state election. Polls indicate Labor is on track to win a fourth term but the November 2026 poll will be the first as premier for Allan, who lags opposition leader Brad Battin as preferred state leader. Battin said working from home was a valuable option for many workers and families. 'We support measures that help Victorians enjoy a better work-life balance, and will review any legislation closely, to ensure it supports flexibility, productivity and personal choice,' he said. The federal coalition's push to end to working-from-home for public servants was partly blamed for its unsuccessful result at the May federal election, despite abandoning the policy before polling day. NSW Premier Chris Minns has described remote-work provisions as a thing of the past but stopped short of seeking an end to working from home, instead ordering public servants to work principally in offices. More than one third of Australian employees usually work from home but that number swells to 60 per cent of managers and people in professional services, according to the Australian Bureau of Statistics. The bureau says 43 per cent who work from home do overtime, compared to one quarter of those who do not.
