A $29.8 Million Retreat On The Deep Water At Sydney’s Point Piper

Not all waterfront property is equal.

A treasured find on Australia’s Sydney Harbor is this vintage boatshed. But it’s not the quaint green-shingled structure that makes it valuable.

It’s the fact that the lot is on coveted deep water, which provides sufficient mooring for luxury yachts. The 21,237 square feet of land, with 131 linear feet of waterfront, is one of the largest privately owned marina facilities in the area that is attached to a residence.

The asking price of $29.841 million may raise the eyebrows of outsiders, but it is in line with what deep water properties command in Point Piper. Long ranked among Sydney’s most expensive suburbs, the area last year saw a mansion on the water sell for $95 million.

Yet this is more than just a place to park a yacht and avoid the expense of a commercial marina. The property has two boat docks, four moorings, parking for seven cars, workshop space and the residence itself.

The boatshed’s entry level, a modernized voluminous space with an open plan living area, dining room and kitchen, takes in views of the bay, marina and surrounding communities. White-painted beam crisscross the vaulted ceiling.

There are two bedrooms and a bathroom on this floor. Stained-glass tops some of the windows, a treatment that is repeated on the lower level.

Above the main living space is the loft-like primary bedroom with an en suite bathroom, a walk-in closet and additional storage.

The ground floor represents a return to the original vintage vibe. The open warehouse-style space has plenty of room for water toys, spare boat parts and tinkering.

The rustic, cavernous room has a well-worn wooden floor, unfinished walls, an exposed-beam ceiling and strings of market lights. A double sink sits below a bank of four windows.

A paved terrace, a stand-alone changing room and a swimming pool and spa surrounded by lawn fill the waterfront yard, which can be reached from the home’s lower level or by way of stairs that descend from the driveway. Mature and tropical landscaping, including palm trees strung with white lights, creates a buffer to the neighboring homes.

Nearby are yacht clubs, dining and shops.

Ken Jacobs of Private Property Global, a Forbes Global Properties partner, is the listing agent 29A Wunulla Road, Point Piper, Sydney, New South Wales.

Surrounded by homes and mansions, the property can be enjoyed as-is or rebuilt to a new owner’s specifications.

After all, there’s only so much waterfront.

This post first appeared on Forbes.com. To see the original, click here.