Landmark Brighton pile sells after three years
The family of Bruce and Judith Terry have sold Brighton’s landmark unrenovated Teychel (pictured, top), nearly three years after it was listed.
The c4500 square metre holding at 16 Moule Avenue, on the north west corner of Seacombe Grove, is speculated to be trading for $30-$35 million, far less than the last guide $39-$42m – which was already a discount on expectation when it was listed – $46-$50m.
Businessman and lawyer Julius Colman and his wife Pamela, also both renown for their philanthropy, have a caveat on title.
That pair have held a c3900 sqm waterfront property two holdings from Teychel for a decade.
The properties are separated by a walkway giving beach access to a middle dwelling on a battle-axe shaped block.
Terry family shed another Moule Avenue home
Judith Terry died in early 2022 – 14 years after Bruce.
The family held multiple Moule Ave properties.
Two years ago, it sold #25 Moule Ave, across the road from Teychel – and where Terry and Judith parked most of their vast car collection – for $6.5m.
Last year meanwhile, the family’s Sorrento beach house – 6 Wrights Close – sold, for $8.15m.
Winds could have moved deal: sources
Kay & Burton is marketing Teychel as a renovation rescue or new-build site.
It is the first time the property has been listed since 1971.
Since it was developed over a century ago, it has only been offered three times.
Sources say recent winds which felled landmark trees on the west of the holding that part-blocked water views and potentially limited future development, could have contributed to the sale after 33 months (the Colman’s home, developed over 40 years ago but since renovated, is much closer to the beach and has unobstructed vistas).
Brighton’s record house price is $31.6m set in 2022 with the then-owners of 7-Eleven’s Australian license sold 39 Seacombe Gve.
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