A derelict waterfront mansion at 57 Cremorne Road in Cremorne Point has been listed with expectations of more than $12 million, presenting one of the suburb’s rarest redevelopment opportunities.
Background and Context
The partially demolished property sits on a 1,255-square-metre block, one of the largest in Cremorne Point. It has remained vacant for years, with residents recalling its long period of disuse. The estate borders the foreshore reserve and has direct access to the Cremorne Point Walk, ferry routes, and Sydney Harbour views.
The overseas-based vendor had initially planned to rebuild the residence but chose to sell after plans changed.
Development and Approval
The estate holds a development approval allowing for conversion into three luxury apartments across four levels, including a double-storey penthouse with a pool, a full-floor residence below, and seven car spaces.
The property is co-listed by Belle Property Mosman and Stone Real Estate Neutral Bay. Both agencies describe the site as offering flexibility for redevelopment, including a multi-generational compound or a single home, subject to council approval.
The auction is set for 12 November. A sale at or above the $12 million guide would make it Cremorne Point’s highest reported transaction of the year.
Market Standing
The suburb’s latest major sale was a five-bedroom home at 15 Kareela Road, which sold for $11 million earlier in the year. The local record remains $27.5 million, paid in 2022 for a harbour-view penthouse.
The site’s north-east orientation allows natural light and wide harbour vistas, making it one of the few remaining blocks of this scale on the lower north shore.
Community Sentiment
Local interest has been strong, with some residents welcoming the potential revival of the long-vacant site. Others expressed nostalgia for the property’s past and concern about possible overdevelopment. The discussion reflects a mix of heritage appreciation and redevelopment interest within the Cremorne Point community.
Outlook
With its size, harbour position, and existing DA, the property offers a rare opportunity for buyers or developers to secure one of Sydney Harbour’s largest remaining private waterfront parcels.
Published 3-Nov-2025