Sydney's most expensive home hits the market

With an asking price of around $56.2 million, this opulent residence nestled in Sydney’s affluent eastern suburbs is looking to take the mantle as Sydney’s most expensive home.

Despite its sky high price tag, the ultimate Sydney pad does not sit on the waterfront. Instead your $56 million will be buying spectacular Harbour views and three levels of luxurious living.

Spread across 900sq metres the European-style villa comes with marble floors, a butler’s pantry, heated pool, a sauna, gym, cellar and staff quarters for the maid and nanny.

The five bedroom, six bathroom property also comes with his and her ensuites.

Located in Point Piper on Wolsely Rd, the property called Mandalay is currently owned by former tobacco CEO, William Webb. The property was also previously inhabited by well-konwn businessman Kerry Manolas and his family.

Current owners Webb and his wife Marijke purchased Mandalay in 2004 for a $20 million. The Webbs are currently not advertising the property within Australia because of an illness in the family, reports the Sunday Telegraph, but are open to offers from interested local parties.

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Mandalay is however being advertised on the international prestige property market where its listing sits next to mansions in Beverly Hills, New York and Paris.

Mandalay’s closest rival for the most expensive property in Sydney is another Point Piper property called Altona. With a current asking price of around $55 million, Altona has been on the market for more than two years.

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