After three years on market, Mosman house sets Shellbank Avenue price record

After three years of sitting on the property market, a Mosman waterfront residence sold this week for a street record price. 

Selling agent Richard Simeon from Richardson & Wrench Mosman would not reveal the sale price for the Shellbank Avenue house, but confirmed it fetched a street record price. 

The street record was  house two doors along - $11 million in 2005. 

The latest sale was by Shane Smyth, CEO of Cover More Insurance, who renovated after paying $9.2 million in 2007, and then listing it with $14 million plus hopes.

The residence comprises of 1,012 square metres, designed for grand -scale living and entertaining, with four huge living areas. 

The home also has three kitchens, two lifts, seven bedrooms and seven bathrooms and has a separate self-contained apartment. 

The outdoor facilities include a swimming pool with a swim-up bar, deep waterfront boating facilities such as a pontoon and a large mooring pen. 

The property sold to a Sydneysider after a race to the finish line with another potential buyer from China competing. 

Another Shellbank Avenue waterfront property sold last week for $10.1 million to a retired West Australian mining executive.