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The Brighton house price record has been smashed with a $40 million-plus sale more than a year in the making \u2013 and the new owners may need even deeper pockets.<\/p>\n
Beachfront compound Teychel was listed with a price guide of $39.9 million to $43.89 million. It sold within that range, according to two sources who were not authorised to speak publicly.<\/p>\n
Set on an oversized block of 4500 square metres, the Moule Avenue residence \u2013 which has only had two owners in its history \u2013 was advertised as an opportunity to renovate or knock down and rebuild.<\/p>\n
It was last renovated in the 1970s and comes with bay views, a housekeeper\u2019s cottage, a swimming pool and tennis court, landscaped gardens, a study and a French-inspired sitting room.<\/p>\n
When it first hit the market last spring, it had a price guide of $46 million to $50 million.<\/p>\n
Agents on the listing were Kay & Burton\u2019s Ross Savas, Alex Schiavo and Jamie Mi.<\/p>\n
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The Moule Avenue residence has scope to renovate or rebuild.<\/span>Credit: <\/span>Kay & Burton<\/cite><\/p>\n \u201cIt is a very strong result for Brighton,\u201d Mi said.<\/p>\n \u201cWe don\u2019t know whether the buyer is going to develop a project or build a trophy home. Either way, it will be a trophy.\u201d<\/p>\n She remained tight-lipped as to the price and the identity of the buyer. The price will become public at settlement.<\/p>\n But a caveat was slapped on the title on Monday citing a purchasers\u2019 contract, public records show. The buyer is listed as corporate entity Finkland Pty Ltd. Finkland is owned by Anita Paterson and directed by John Troiano, who is managing director of Cinque Property Group. Paterson is a shareholder in entity Cinque One, of which Troiano is a director.<\/p>\n When Cinque Property Group was contacted by this masthead, Troiano was unable to comment.<\/p>\n The house last traded in 1971 to property developer Bruce Terry, and public records show the home was the deceased estate of the late Judith Terry.<\/p>\n Brighton\u2019s previous house price record was $31.6 million for the stunning waterfront residence at 39 Seacombe Grove, sold in 2022 by the estate of Beverley Barlow, who was a co-owner of the 7-Eleven empire.<\/p>\n Brighton\u2019s median house price is $3,072,500 as of the September quarter, according to Domain data.<\/p>\n<\/p>\n