Mansions of Shannon Bennett and Madeleine West
The former power couple have come out $16.6m ahead at sale time in just a few years of luxury deals.
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Shannon Bennett and Madeleine West have come out eight figures ahead at sale time in just a few years after deals for their Melbourne and Surf Coast mansions.
After three luxury home sales in four years, the former power couple is $16.6m ahead of what they paid for the jaw-dropping pads, less renovation costs.
The one-time Vue de monde head chef and regular on MasterChef’s latest sale with former partner West, a $24m Toorak mansion, attracted $8m more than what they paid.
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The high-profile pair paid $16m for the property in 2017 and completely renovated the home, with particular attention on the kitchen.
Hospitality bigwig Robert Zagame bought the lavish pad in a deal that took less than 36 hours to cement after the joint-head of Zagame’s hotels group first saw the home.
Celebrity chef Bennett is being urged by his agent to ditch Byron Bay and return to renovating in the state’s priciest postcodes.
Marshall White’s Marcus Chiminello brokered the latest deal and said he was pushing the chef to cook up another renovation in Victoria.
“I’m certainly encouraging Shannon to do it again,” Mr Chiminello said. “But I believe he’s very happy living in Byron Bay.”
Renovating might be the chef’s other calling, after he and West made almost $5m updating and selling 38 Cromwell Road, South Yarra.
Records show the four-bedroom mansion cost them $4.805m in 2012. They then snared $9.78m when they sold in late 2017.
Meanwhile, a Lorne property Bennett’s Vue Group bought for $380,000 in 2007 sold in 2018 for a whopping $4.025m, He established a holiday home on the site, which housed elites including rock royalty The Rolling Stones while they toured in 2014.
Bennett has split his life between Melbourne and Byron Bay for years, but with the NSW coastal hub now home to plenty of A-listers, including Hollywood heavyweights Chris and Liam Hemsworth, and Zac Efron renting a $22m home there as well, he’s been seen less and less in Victoria.
One of his few significant ties to Victoria, the Burnham Bakery and Piggery Cafe at the Burnham Beeches estate redevelopment in the Dandenong Ranges, has also run into difficulties with Heritage Victoria.
Last year Bennett revealed the historical protection arm of the government was seeking costly changes to plans he and business partner Adam Garrison have for the 1933-built property.
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Originally published as Mansions of Shannon Bennett and Madeleine West
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