Stephen Nicholls, Property Journalist
First published 29 Oct 2026, 4:39pm
I arrive for my exclusive tour of the iconic Sydney waterfront home, Akuna, by boat, collected by the selling agent Steven Chen of The Agency.
He picks me up at the Rose Bay wharf and on the way we go past several other famous Point Piper residences, including the one owned by former PM Malcolm Turnbull, now worth as much as $150m; another owned by Aussie John Symond, who knocked back several offers of $200m+ before taking it off the market; and one Chen sold for $85m, the highest in Sydney last year, to billionaire Birkenstock heir Alex Birkenstock and his former model wife, Vanessa.
The house I’ve come to see is a relative bargain with its price guide of just $55m , down from $70m-$75m when it was available off-market last year with a different agency.
Fashion designer Amber Keating lists $22m mansion
I could get by with just the boathouse, with its waterfront position and iconic views.
The glistening harbourside pool looked inviting, even though it wasn’t a hot day.
And from the water, Akuna looks very impressive, particularly with its charming Chinese-style timber boatshed, built in the 1930s on Seven Shillings Beach, one of only two in Sydney (the other one’s in Mosman).
The rare boathouse is my first stop. It’s very basic, with just a tiny kitchen, but I could get by with just this, coupled with its waterfront position and iconic vew.
I ask about all the fishing rods stacked up against the wall — turns out the current owner, property investor Hoang Trang Do, who’d bought Akuna for $60m just three years ago, is a keen fisherman.
Lucky then his other waterfront home, the Art Deco treasure Boomerang in Elizabeth Bay, bought for $80m soon after he’d settled on Akuna, also has its own deep water jetty and pontoon.
As Chen says, Do doesn’t need to two waterfront homes, so he’s opted to sell the Point Piper house, even potentially for less than what he paid.
There are only about 55 waterfront homes in Point Piper and just six of them have water berths.
The lower level is devoted to guest accommodation — or it could be a teenager retreat.
But who knows, perhaps he won’t need to accept less. Chen has had a steady stream of high-net worth individuals and families through.
Three are particularly keen and he’s expecting the offers to start flowing in soon.
We enter the main house via a walkway alongside the pool, which looks inviting even though it’s not a hot day.
The three-level house was completed in 1990 and was designed by Walter Barda and Richard Christian, with interiors by Michael Love and Thomas Hamel.
The lower floor has a strong timber theme and features a huge entertainment area and bedroom opening to the pool and water views.
It would be a perfect area for guests or teenagers. There’s also a study, laundry, plant room and cellar.
The lounge room on the next level opens to a full-width terrace with THAT view.
The main entertainment area is up on the next level, with the formal living room, formal dining and kitchen all opening to a full-width terrace and those incredible harbour views.
Up on the accommodation level, two of the four bedrooms come with an ensuite (in fact the master has two ensuites and a huge walk-in-wardrobe), while the other two bedrooms share a bathroom.
The house is liveable as is, but no-one’s pretending it doesn’t need at least a makeover. The new owner will most likely proceed with the DA-approved plans for an extra level and transformation by Brian Meyerson of MHN Design Union.
They’ll also likely want to modernise the inclinator, which is the only access the street — Wolseley Rd, Australia’s most exclusive — and the garage, plus two others on a separate title further along.
Chen isn’t expecting Akuna to be long on his books with its current attractive price guide. After all, there are only about 55 waterfront homes in Point Piper and just six of them have water berths.
And it’s going to be particularly popular with all the other (wealthy) fishermen, worldwide.
Mum ditches $30m mansion for simple life
Help us improve your reading experience
Got a minute? Your feedback will help us build a better experience for you.
