Rabbitoh Latrell Mitchell spends $600k on retreat in home town
Latrell Mitchell has sealed the deal on a home town rural retreat, real estate insider Jonathan Chancellor reveals. The South Sydney Rabbitohs player used equity in his Sydney home to help fund his recent purchase.
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Latrell Mitchell, fined this week for breaching COVID-19 lockdown rules, spent $600,000 to buy his Taree-district retreat, with the paperwork revealing that equity in his Sydney home was used to help fund the recent purchase.
His 222ha cattle farm at Caffreys Flat, with a ramshackle three-bedroom stone and timber home, was secured in February.
Westpac documentation shows the purchase by the 22-year-old South Sydney Rabbitohs recruit coincided with a second mortgage taken on his home in Chifley.
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Mitchell had bought his first home in southeast Sydney for $1.45 million in 2018 shortly after the first of his two Sydney Roosters premiership wins. PRDnationwide agent Corrinne Olsen said at the time she had secured “an outstanding price”.
Taree-born Mitchell made headlines after images emerged of him enjoying a weekend with mates on the farm and a remote beach, some 200km away.
They were pictured drinking, firing shotguns, riding motorbikes and generally enjoying what he later described as a cultural weekend with close friends and family.
Mitchell is said to have spent much of the past few weeks training in isolation and working on his second property.
The farm, with frontage to the Nowendoc River, was listed last October at $750,000 through Lauders Real Estate Wingham.
About 80 per cent of the land is cleared, fenced into 16 paddocks and includes 13 dams. The land has a capacity to carry 90 head of cattle and there is a horse yard with a two-bay stable.
Mitchell is understood to have secured advice on the acquisition through accountants Lincoln Partners.
He signed on to Wayne Bennett’s Bunnies for two years in January, set to earn around $600,000 for pre-COVID 2020 on top of the $117,000 paid by the Roosters since November.
$4.5M WATSONS BAY WHISPERS
One of the current Sydney hot spots is Watsons Bay, not that there’s much selection.
Indeed, the last fresh listing in the tight-knit village was snappily sold for $4.5 million by entrepreneur Ken Dalley.
Since trading at $2.6 million in 2014, the 1840s Cove Street cottage has undergone a Durlach Block redesign into two pavilions, built around a courtyard.
There are whispers it will be the home of celebrated chef Guillaume Brahimi, who currently rents just a few doors away.
Raine and Horne agents Dion Markovics, Peter Starr and Chris Serrao secured the sale.
Meanwhile, Justin and Dom Hind, co-founders of the WiTH Collective advertising agency, have their home relisted. Perfectly timed for this month’s Belle cover, they’ve signed up Michael Pallier at Sotheby’s with $17 million hopes, having sought $15 million-plus last August. They bought it from Collette Dinnigan and Bradley Cocks in 2016 for $9 million and undertook a $5 million Weir Phillips Architects makeover.
STUNNING CHALET SALE DETAILS FINALLY REVEALED
Just as the snowfalls start at Thredbo, details of last season’s whisper-quiet record leasehold sale price have emerged.
The stunning alpine chalet Tussock officially fetched $4,499,000.
The mystery buyer of the contemporary Crackenback Ridge ski-in, ski-out abode was Audio Systems Logic founder Matthew Palavidis, who has a long background in the electro-acoustics industry.
It traded for $3.5 million in 2005 when bought by Multiplex construction company scion Andrew Roberts, who splits his time between Sydney, London and Perth.
Roberts bought it from architect Andrew Norbury and his then-wife Jane Parker, one of the founders of Country Road clothing.
Located on one of the highest blocks in the state, Tussock was marketed by Forbes Stynes Real Estate agent Michelle Stynes with $4 million to $5 million price hopes.
It was designed to be a soft edge between the village and the national park. With its construction costs put as $1.2 million, the five-bedroom pavilion residence features remote-controlled 15-zone underfloor heating, plus floor-to-ceiling windows looking out to snowgums and passing skiers. The ground floor of the home is essentially subterranean.
Recently, the most significant Thredbo sale was De Dacha lodge, set in the village overlooking duck ponds, which fetched $2.25 million.
The European alpine-style lodge was sold by former society model Fiona Campbell, who had pocketed $8000 a week as a peak-season rental.
It sold to the Punch family, having previously traded in 1994 for a record $810,000 from the village developers Lendlease.