Christies Beach mansion with $5m price tag set to smash record

The sale of a prominent SA businessman’s beachfront mansion is tipped to eclipse the record price for Christies Beach by more than $2.5m.

The striking property at 56 Esplanade, which was built by Charles Figallo, has hit the market with a $5m asking price.

Property records show the current record holder for a single house in the suburb is $2.3m, which was recently cemented when the residence at 69 Esplanade sold in September.

While a high price for the suburb, selling agents Calvin Lai and Eric Jem, of Belle Property Norwood, said it was much more affordable than many other beachfront homes on offer closer to the city.

MORE: Historic estate’s sale could end 135-year dynasty

56 Esplanade, Christies Beach.

56 Esplanade, Christies Beach.

56 Esplanade, Christies Beach.

56 Esplanade, Christies Beach.

One at Somerton Park, an old beach house on a 1193sqm block, changed hands in July for $7.65m, while another at Brighton, a modern residence on a 400sqm block, sold for $4.725m earlier in the year.

“This is a very rare opportunity to buy and it’s very good value,” Mr Lai said.

“There are some new builds in the area but they’re on a smaller land size.”

Mr Lai said there were large properties like it in the suburb and on the esplanade but they had older homes on them.

The cost of building a new property on them would be much higher than the asking price of No. 56, he said.

Mr Figallo, founder of mechanical engineering companies Basetec Services and NovaFast, has lived in the five-bedroom home for about three years.

“It took approximately three years to build and I finished it three years ago,” he said.

“It was a lot of hard work.

“I bought the land just by chance when I was driving past, it was an auction about 10 years ago.”

Property records show he paid $700,000 for the block with an old beach shack in 2014.

The new home spans two levels with the main living area, a theatre room, a bedroom with ensuite and study that doubles as another bedroom downstairs.

MORE: Two luxe homes for the price of one beachfront mansion

56 Esplanade, Christies Beach.

56 Esplanade, Christies Beach.

56 Esplanade, Christies Beach.

56 Esplanade, Christies Beach.

Upstairs, there are three bedrooms, including the master suite with a spa and access to a balcony, as well as a living area.

It also has an outdoor entertainment space with built-in barbecue and a pool in the backyard.

Mr Figallo said it was his dream home and building it was a labour of love.

“It’s just so beautiful here,” he said.

While he loved it all, Mr Figallo said the spa in the master ensuite was his favourite part of the home.

“You can sit in the spa and look at the ocean,” he said.

The home is a short walk to cafes, restaurants, shops and a playground on Beach Rd, as well as the Christies Beach entrance to the recently finished Witton Bluff Base Trail that leads to Port Noarlunga.

The post Christies Beach mansion with $5m price tag set to smash record appeared first on realestate.com.au.