Buyer’s $17.5m saving on Point Piper waterfront

31 Wunulla Rd, Point Piper had an asking price of $50m in May. It’s now sold for $32.5m. A waterfront home in Point Piper has sold for $32.5m — $17.5m or 35 per cent less than its original $50m price tag. The four-bedroom home on a 1,139sqm block with harbourside pool, jetty and boatshed at 31 Wunulla Rd was first listed in May with a guide of $50m. It’s owned by Chow Kwong Ching, son of the late Singaporean property developer Chow Cho Poon. The guide dropped to $41m-$45m in July and it sold on August 28 for $32.5m, multiple sources have advised. MORE: Top agent back in town, selling late mum’s unit The property last traded for $343,000 in 1977. It was sold as an empty shell. It has many attractions, including the harbourside pool. When contacted, the veteran sales agent Michael Dunn of Richardson and Wrench Double Bay, who has experienced many property downturns in a career spanning close to half a century, confirmed the sale but couldn’t disclose the result. He shared the listing with his son, James Dunn, who now works at Sotheby’s. It also has incredible harbour views. The kitchen has been updated. It’s going to be perfect for someone with a boaties lifestyle. The agent had the ...