Over the last few months model Megan Gale has made a habit of selling property with the latest being her $2.3 million Melbourne waterfront mansion. As she acclimatises to life with her young son it seems that she has built up a multi-million dollar war chest for the future. The Melbourne property was bought for $2.3 million less than five years ago but the famous model has decided to sell.
The five bedroom property was only put up for sale earlier this year and there are suggestions that a private deal has already been agreed with speculation it is in the region of $2.5 million.
The property itself is situated close to the banks of Melbourne north’s Maribyrnong River with exquisite views in this beautifully decorated, spacious and eye-catching home. It will come as no surprise to learn there are five bedrooms and five bathrooms in this property not to mention the outdoor saltwater solar heated infinity pool. We can only guess that the spacious pool area was a favourite with the family looking to catch the rays from Australia’s infamous weather.
Tucked up in the wintertime
For many people Australia is all about sunshine and surfing but winter time has certainly been accommodated for in Megan Gale’s property. There is a rip roaring fireplace, a relaxing theatre room and for those with an interest in home cuisine, a “full imported Italian kitchen”. There is a beautiful finish to the kitchen which has a walk-in pantry and porcelain countertops. Can you imagine cooking in that kitchen?
The main living areas in the property are dominated by the dark hardwood floors, spacious design and eye-catching furniture. Foldaway glass doors also create a seamless connection between the indoor and the outdoor which is perfect if you are entertaining. It is the ability to put together eye-catching, colourful and creative furniture yet give a spacious and relaxing look which makes this particular area standout.
As we touched on above, this property has five bedrooms with a stunning view over the banks of the river Maribyrnong. Once you have woken up in the morning you can spend as much time as you like on the balconies enjoying the view. The large plain glass windows complement the bedrooms and make them look even bigger and more spacious than they already are.
Is the Australian luxury property market topping out?
As well as her Melbourne home, it has been revealed that Megan Gale recently sold her Palm Beach property for $3 million together properties in Perth, Bondi Beach and Tamarama. While no details of the private Melbourne sale are available experts believe Megan Gale would have made a small profit. It does beg the question, after investing so heavily into the Australian property market, more towards the luxury end, does Megan Gale believe the market is starting to top out?
Experts have been attempting to talk down the Australian real estate market for many months now with little success. There is a feeling that some property markets have begun to “overheat” and maybe Megan Gale is calling the top of the market? Time will tell but it is worth noting that while these properties sold, did the Melbourne development achieve its original asking price?