House That! Cottesloe corner block could smash WA’s land price record with its potential $20 million price tag

Cottesloe looks set to smash the land price record with a property likely to fetch $20 million. The Pearse Street property includes a beautiful old home, but real estate agent Justin Davies believes the block will be purchased for a luxurious new build, or potentially for two or four homes on the site. The 1181sqm corner block is expected to sell for more than $20m, delivering a State land price record of at least $16,934 per sqm. The figure will surpass the previous record, also achieved by Davies, by nearly $2000 per sqm. The property is north-facing, with views over the ocean and the adjacent golf course, but protected from the south-westerly wind that can make some afternoons a little too blustery to enjoy. It is a rare offering considering only 49 properties in Cottesloe are on more than 1100sqm, and of those, only two have the all-important north-facing aspect with ocean and parkland views, along with rear access. The other one already has a new luxury home on it, prompting Davies’ expectation the old house on the block, pictured with the extensive solar panel system, will be bulldozed to make way for a modern build. The home was last sold in 1966, to wheatbelt farmer John Arrow and his wife Fleur Harvey. A memorial has been commissioned to celebrate the late Mrs Harvey, who was active in the community. Her father Cecil Harvey, has already been honoured with nearby fields named in his honour after serving on the local council for 40 years and as Cottesloe mayor from 1961 to 1974.