Kangaroo Point mansion sale smashes record for Sutherland Shire and St George

St George and Sutherland Shire residential price records have been smashed thanks to an almost $11 million sale of a mansion at Kangaroo Point.

Fairfax Media website domain.com.au reported on July 9 that the result tops just two other sales over $10 million south of Sydney Airport. 

The exact sale result to a local buyer remains undisclosed.

The three-level Kangaroo Point residence, built over two blocks of deep waterfront, was completed three years ago by Celeste and Joseph Steiger, an electrical engineer who runs electric and mechanical servicing company Industrial Electric.

The double block of 1821 square metres has been held by the Steiger family for about 40 years and in Joseph Steiger’s name since 1986 when it was sold by the family company for $495,000.

It was listed last November with $12 million hopes with another agent but was sold off-market by DJW Property.

The six-bedroom residence is set on the east-facing side of Kangaroo Point Road and has a private beach, jetty, pontoon and boatshed.

Internally there is about 900 square metres of living space with an internal lift, formal and informal living and dining rooms, a heated swimming pool, double garage and a grand porte-cochere entry.

domain.com.au reports that a previous high of $10.85 million was set in 2005 by the Kangaroo Point property known as Waterview, up the road from the Steiger home, when it was bought by company director Allan Botros. But it was sold two years later for $6 million to boss of Glad Cleaning company Nick Iloski and his wife Lucy.

A waterfront house on Cronulla’s Darook Park Road was sold for $10.3 million to Sonya Boxall, wife of UBS co-head of equities Steve Boxall.