Sold: Daniel Johns’ investment property delivers $2.39m profit

Daniel Johns has offloaded his long-held investment property in Merewether for $2.75 million.

CoreLogic records show the property at 31 Ranclaud Street has sold and earned the former Silverchair frontman a profit of $2.39 million.

Johns, 45, had just turned 17 when he purchased the beachside pad in 1996 for $360,000 in the wake of the success of Silverchair’s debut album, Frogstomp.

At the time, Merewether’s median house price was $293,593.

In 2024, the average sale price of a house in the suburb has climbed to $1.86 million, according to CoreLogic.

Listing agent Chasse Ede at Presence Real Estate took the property to market in February with an initial auction guide of $3 million.

It was re-launched in May with a revised auction guide of $2.6 million.

The $2.75 million result achieved a street record for Ranclaud Street, topping the previous $2.57 million record set in December.

Positioned 250 metres from Merewether Beach, the weatherboard home has four bedrooms, including a master with a walk-in robe and ensuite.

There are separate living and dining rooms, a kitchen, a study, a main bathroom and an attic.

The 635 square metre property on Ranclaud Street was the first real estate investment for Johns who bought a two-bedroom shack in a coveted spot near Merewether Beach for $645,000 a few months later in August 1996.

In 2000, Johns paid $1.4 million for a 1970s five-bedroom home with ocean views overlooking Merewether.

The sale follows Johns’ ex-Silverchair bandmate Chris Joannou’s house sale in Carrington in 2022.

Joannou sold his three-bedroom family home at auction for an undisclosed amount believed to be upwards of $1.6 million after purchasing it for $671,000 in 2014.

He bought an acreage on the Mid-North Coast.