Stephen Nicholls, Property Journalist
First published 22 Oct 2026, 9:03am
Akuna, 20 Wolseley Rd, Point Piper, comes with a rare Chinese-style boathouse.
The owner of one of Sydney’s most unique waterfront homes has dropped the price guide $5m below what he bought it for just three years ago.
Point Piper’s Akuna, which comes with a rare Chinese-style boathouse, deepwater jetty, harbourside pool and is just around the peninsula from the residence of former Prime Minister Malcolm Turnbull, was bought by property investor Hoang Trang Do for $60m three years ago .
It’s now listed for $55m via The Agency’s Steven Chen.
“It’s a beautiful property and the vendor is very realistic,” Chen says.
“He can’t live in two houses at once.”
‘If I won Lotto, I wouldn’t be selling’
A harbourside pool and views of the harbour to the Bridge and Opera House.
Pictures offer a first look inside the home.
The Wentworth Courier broke the news last November that Do had quietly listed Akuna with a guide of $70m-75m with a different agency , having just taken the keys for the Elizabeth Bay Spanish Mission treasure Boomerang from trucking billionaire Lindsay Fox for $80m .
There were reports last month that another agent was doing a ring-around of senior executives and buyer’s agents trying to sell Boomerang for $100m, but it’s understood Do was never seriously considering that option.
However, despite its beauty, he’s ready to part with Akuna.
The recent official listing on public real estate portals offers the first pictures inside the Point Piper treasure, as although Akuna has traded several times over the past four years — Do bought it from former Sydney FC chairman Scott Barlow and then wife Alina for $60m in 2023 who’d bought it for $45m the year before — those sales occurred off-market.
But the home comes with plans for an extra floor and lift.
The pictures are a surprise as there’d been much discussion about its unrenovated state. We thought the worst!
But as these pictures show, as Chen says, the home is “perfectly liveable” — which some may say is just as well since it’s a $55m home, though in the Sydney trophy home market it’s more about location, views and block size than the state of the interiors.
After all, the Atlassian co-founder Scott Farquhar paid $71m for the 1863 former Fairfax mansion Point Piper waterfront Elaine in 2017 — who sold that for $130m in 2024 equalling the Sydney house price record — and that was unliveable.
There are five bedrooms and stunning harbour views.
RELATED: ‘I’ve been inside Elaine, and quite frankly it’s ugly’
Elaine, with its seven-bedrooms on a whopping 6,986sqm waterfront block, is now facing demolition to make way for a $300m aged care home.
Akuna, which has five bedrooms, was designed by Walter Barda and Richard Christian, with interiors by Michael Love and Thomas Hamel.
On a 758sqm block, the three-level home could certainly do with a makeover. It comes with approved plans by Brian Meyerson of MHN Design Union for an extra level and a lift.
But you can’t beat that rare heritage boathouse — only one other Sydney home, in Mosman, has one — its deepwater jetty and panoramic postcard views of the Opera House and Bridge or its location by Seven Shillings Beach.
Landmark home has price cut by a third
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