Somerton Park beach home sells in whopping $7.65m deal

An old beach home on Somerton Park’s esplanade is set to be bulldozed following its whopping $7.65m sale.

The 1193sqm corner property with a two-storey 1960s-built house at 27 Esplanade attracted more than a dozen offers before selling in a deal that marks a new record for Holdfast Bay.

Property records show the previous top sale for a house in the council area was the South Brighton residence at 181 Esplanade, which sold for $6.375m in July 2024.

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The Somerton Park home at 27 Esplanade has sold in a $7.65m deal.

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The sale marks a record for houses in the Holdfast Bay council area.

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There were 14 offers for the property, which has an old beach home.

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Selling agent Brad Allan, of Allan Real Estate, said the buyer purchased it for the land and would eventually knock the house down.

“At some stage it will probably be subdivided and split up in the family,” he said.

“We had 14 offers on it, not all of them were at that price level but a few were in excess of $7m.

“It was a mix of developers and a couple of people looking at it for one home as well.”

Mr Allan said most of the interest came from South Australian residents but there were a few keen interstate buyers.

“The interstate interest was from Perth, Queensland and Sydney,” he said.

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The house will eventually be bulldozed.

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The buyer hopes to subdivide the property.

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It’s on a corner lot across the road from a park.

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On an elevated corner block with 22.86m of beach frontage, Mr Allan said its location, northerly aspect and position across the road from John Miller Reserve made it particularly appealing to prospective buyers.

He said properties like it were rare these days, which was also part of the reason it attracted so much interest.

According to property records, the sellers purchased the home in January 2013 for $2.76m.