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Property swap

A rare multimillion-dollar exchange deal in the beachside suburb of Dicky Beach has broken real estate records. WORDS: Steele Taylor.

A rare swap deal involving multimillion-dollar properties in the same neighbourhood has been formalised.

The owners of 10 Rooke Street, a stylish and modern mansion, and the owners of 37 Wilson Avenue, a vacant block on the beachfront, at Dicky Beach essentially exchanged territories.

The home on Rooke Street was bought for $4.8 million before the land on Wilson Avenue was purchased for $6 million, according to real estate data. It’s believed the former went for a suburb record, before it was outdone by the latter.

Ray White sales and marketing consultant Jason Jaeger says the arrangement was remarkable.

“You don’t see many swap deals,” he says. “It’s rare. There are lots of times where agents come close to lining up swap deals, but it hardly ever happens.

“It’s like chasing rainbows.

“I’ve been around for a while (more than 20 years) and have only done one other swap deal, and it was nothing like this one.”

The two-level home at Rooke Street, designed by Paul Currie, boasts four bedrooms, multiple living areas, an outdoor entertaining area with pool, gourmet kitchen with high-end appliances and huge butler’s pantry.

The vacant land at Wilson Avenue is in prime position.

The 610sqm block literally backs on to the beach.

It’s also not far away from Tooway Creek, local amenities including shops, cafes, restaurants, and parks.

It was owned by one family for about 40 years before being sold, with the new owners essentially paying the difference between the two properties ($1.2 million).

Mr Jaeger says both parties can not be happier.

“The people moving to the block of land – they can now build their dream home by the beach,” he says.

“There are not many vacant blocks on the beachfront, so the people moving there are so happy they can build their dream home there and raise a family there.

“They’re over the moon.

“The couple moving into the house (just 400 metres away) can move into a fully furnished house that has everything you could dream of, and they can do that straight away.

“Both parties have been able to find properties that absolutely suit their needs.”

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