CORNER HOUSE: This house at 11 Marine Parade, Wategos Beach has sold for $18.85 million.
CORNER HOUSE: This house at 11 Marine Parade, Wategos Beach has sold for $18.85 million. The Northern Star

What $18 million will buy on the Northern Rivers

IT'S probably one of the best-known homes at Wategos Beach, one that millions of tourists have walked or driven past with looks of envy.

According to Property Observer, the colonial-style property at 11 Marine Parade sold last month for $18,850,000 to F45 gym entrepreneur Adam Gilchrist (not the cricketer).

Known as the Wategos House, the six-bedroom property was available for rent during peak holiday season for a rumoured $31,000-a-week.

The sale came soon after news Hollywood actor Mark Wahlberg had become a key investor in Mr Goldberg's Australian fitness chain.

When the house last sold in 2006, it smashed the record for luxury home sales in Byron Bay - property developer Danny Goldberg paid $15.68 million.

Having gained $3.2 million in value since then, it shows an annual price growth of 1.5 per cent.

In 2007, Mr Goldberg applied to Byron Shire Council to knock down the house to construct a new double-storey house and swimming pool on the site, those plans however, did not come to fruition.

In 1999, the property sold for the-then amazing price of $2,091,000.

According to CoreLogic, the land value in 1987 was $280,000.

With "unbeatable outdoor living spaces”, the six-bedroom beachfront sits on 1406sqm, and its front terrace overlooks the beach with a custom-made table for 14.

The $18.85 million sale is a shot in the arm for the local real estate market during an uncertain time where vendors are nervous of buyers calling the tune.

According to CoreLogic, homes in Byron Bay*:

Change in Median Price (5 years) is 133 per cent

Annual Change in Median Price (10 years) is 8.2 per cent

Median Asking Rent is $900 per week

Median Days on Market is 108 days

  • Statistics are calculated over a rolling 12 month period.

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