Karala, the $25,000 Palm Beach peak season rental sold

Karala, the Palm Beach trophy home, sold pre-Christmas selling for $12 million, making it the highest sale in two years at the northern beaches suburb.

The seven-bedroom residence was bought by Mosmanites Silvana Marshall, wife of lawyer Richard Marshall, the former head of legal for mining giant Glencore Xstrata.

​Designed by architect Albert Hoggett, it was sold by Switzerland-based hedge fund manager Adrian Vanderspuy and his wife Vanessa, owners of the Oldenburg Vineyard in South Africa.

The Vanderspuys listed it with a $12 million to $12.5 million guide through David Edwards, of LJ Hooker Palm Beach in May. 

Set on Pacific Road, the 1700-square-metre property has been one of Palm Beach’s most expensive holiday rentals, regularly fetching $25,000 a week during the peak holiday season.