Billionaire Dennis Bastas – who last week took control of MCoBeauty in a $500 million deal – and wife Georgina have bought a disputed Portsea property off-market and will add it to the adjacent lot they purchased in 2021 for $7.1 million, creating a one-hectare site.
A caveat lodged over the 5028-square-metre lot at 53 Wildcoast Road, Portsea, shows the Bastas couple has secured the property they lost out on to developer Fortis principal Charles Mellick in a heady mid-COVID auction in June 2021.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
