Canberra family purchases 8 Akame Circuit, O'Malley ACT for $4,550,000

On the market for the first time since it was built just over 10 years ago, 8 Akame Circuit, O'Malley was designed by prominent Canberra architect Terry Ring and built by local firm Creative Building Services.

With a porte cochère (covered driveway) and grand foyer to welcome guests, formal and informal dining spaces, a movie room and 4500-bottle wine room, homes as opulent as this don't hit the market often, selling agent Mario Sanfrancesco of Blackshaw Manuka said.

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"It's a spectacular home, it just has absolutely everything going for it," Mr Sanfrancesco said.

"Properties of this calibre are generally designed by the owners themselves to hold on to for what I call generational living, so they don't really pop up that often. But when they do, there's generally good interest."

With their children having left home, the vendors decided to list the two-storey property in a bid to downsize. But just as the home went to market, the ACT plunged into lockdown.

"Rather than withdrawing it from sale, together with the owner, we decided to just leave it out there and then wait until restrictions were eased," Mr Sanfrancesco said.

"As soon as that occurred we were able to start showing buyers through ... and that regained momentum immediately."

The property sits on a half-acre block and includes ample space for entertaining, including an alfresco dining space, outdoor kitchen, pool and spa.

Mr Sanfrancesco said the home not only appealed to the local market, interstate buyers were also among those wanting to inspect.

"The interest was really positive from the moment we put it on the market," he said.

"I had enquiries from all over Australia. I had a couple of virtual inspections for those buyers but in the end, the eventual buyer was a local family that had been searching for the right property."

According to CoreLogic data, the sale marks the second highest house price for the suburb. A seven-bedroom home at 15 Timbarra Crescent O'Malley still holds the top spot after selling in 2019 for $4.8 million.

The median sales price for houses in the area is $2,049,000.

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