A waterfront residence in Northbridge smashed the suburb record by more than 70 per cent when it sold on Saturday afternoon for about $15.5 million.

The trophy home was only on the market for a month before it was snapped up by an offshore buyer.

The result tops the previous high of $9.05 million set by the same residence when it sold in 2008 to Justin Reizes, who retired in March as head of equities giant Kohlberg Kravis Roberts.

View from the house at 57 Coolawin Road, Northbridge. Photo: Supplied

Reizes had listed the 1700-square-metre property with McGrath’s Michael Coombs and David Howe last month with initial hopes of $16.5 million following his recent resignation and the family’s move to Berlin. Robert Klaric, of The Property Expert, was brought in to help with negotiations on the deal.

There was strong interest in the property earlier this week, with half a dozen contracts issued and more than 70 groups having inspected the local trophy home.

Michael Coombs declined to comment on the sale despite a sold alert on the listing and a source saying there were competitive offers by about three buyers over the weekend.

Strong interest: 57 Coolawin Road, Northbridge was on the market for only a month. Photo: Supplied

It was previously owned by Jinwen Lin, a former director of Goldin Group, and Yu Lian Xu.

It is the third time the property has set a suburb high, having first done so in 2003 at $7.13 million when it was sold by Tenix executive director Robert Salteri and his wife Kelly.

Clearly there is much to recommend about the east-facing, waterfront residence. Set on a private beach with a boatshed and pontoon, it has landscaped gardens, swimming pool and an interior design by Hare + Klein.

Tops: 57 Coolawin Road, Northbridge sold for $15.5 million. Photo: Supplied

The result is the third highest on the lower north shore this year. The top result was in March at $16.5 million for the Cremorne waterfront residence of investment banker Campbell Lobb and his wife Susie when they sold to a buyer from China. Origin Energy’s outgoing chief Grant King and his wife Jenny then sold their Neutral bay trophy for about $16 million last month.