The Sell: NBA star Andrew Bogut offloads Zara, Mudgeeraba homes amid Kings role
Former NBA star Andrew Bogut's return to basketball has triggered a dramatic real estate shake-up, with the Kings assistant coach selling two multimillion-dollar properties.
NBA legend Andrew Bogut and wife Jessica have secured the sale of their redundant rural acreage at Zara in the NSW Tweed, along with their Mudgeeraba trophy home in the Gold Coast hinterland.
There’s been no sale price reveal, but there’s likely been a combined $10m plus tally.
The listings coincided with the NBA Hall of Famer heading back to Sydney and joining the Sydney Kings as an assistant coach.
The team has won three of its seven games since commencing last month, with Bogut hastily taking the reins mid-game last Sunday when coach Brian Goorjian was ejected by an NBL referee in their win against Perth.
Bogut owns a 10 per cent stake in the Kings.
“Being away from the game for five years, the itch to get back on the court was growing stronger with time,” Bogut said pre-season.
The Code Sports Crosscourt columnist Michael Randall has noted Goorjian has two seasons to run and, “while the Kings haven’t addressed anything publicly, it makes sense to prepare for the future”.
Given Bogut earned $A180m in an NBA career across 14 seasons, “Bogut’s not at the Kings for the pay cheque”, Randall suggested.
Raised in Melbourne’s outer southeast, Bogut, 40, is one of Australia’s most decorated basketballers, since being the top pick in the 2005 NBA draft when selected by the Milwaukee Bucks.
It was in 2021, having announced his playing days were over at the Kings, that the couple departed Sydney, and their inner-west Concord abode for their tree and sea-change.
The Concord house, with high ceilings just perfect for the 213cm (seven-foot) champion, sold in 2021 for $4.1m. They had bought the six-bedroom brick bungalow with extension in 2018 for $3.5m when he signed a two-year deal to play for the Kings.
The Boguts initially headed to Currumbin, in South East Queensland, where they pocketed $7.13m for a Paul Uhlmann-designed home overlooking the estuary in June, having paid $4.45m.
The couple then bought a 56-hectare Zara escape in 2023 for $4m and had sought to sell for $4.9m.
They have also sold their six-bedroom, five-bathroom Jared Poole-designed Mudgeeraba property earlier this month through Kollosche, having purchased for $6.45m in 2021.
They have yet to sell their Canungra property for its desired $2.5m plus.
WONDER WORLD OF MANY FOND MEMORIES
The longtime Darlinghurst home of author Joy Jobbins has been listed for auction by her daughter, child star-turned-TV reporter Sheridan Jobbins.
The two-bedroom, one-bathroom Chapel St offering, set on a 52sq m block, has $1.45m price guidance for its November 7 auction through Mark Matthews at LJ Hooker.
“It is a little gem of optimism and charm,” Sheridan said.
The two-level home, amid the Stanley St Georgian terrace precinct, was bought for $75,000 in 1983.
“Dad died in the late 1970s, and by the early 1980s Mum was ready to have one more go at home ownership,” Sheridan said.
“But the banks wouldn’t lend her any money. I was a presenter on Simon Townsend’s Wonder World with good proof of income.
“Mum proposed that we use her savings, $20,000, and my income to buy 20 Chapel St.
“She would live in the house, and it would return to me as a form of forced savings when she died. In this way, we bought her a home for over 40 years.”
It was in 2023 when Joy died – a few weeks short of her 96th birthday. Her two books, published in 2006 and 2017, told of her extraordinary life.
Shoestring was about her early married life and becoming an advertising executive for the Australian Wool Board.
A Life at the Palace: A Necklace of Anecdotes was about living in the then-ramshackle Elizabeth Bay waterfront, Berthong. The family were paying $80 a week in the 1960s after her husband, Henry, put an ad in the newspaper.
It read: “Wanted: family home in Sydney within 6 miles of the GPO – anyone’s old white elephant.”
The Albert music book family stepped forward, and as they also owned the adjoining empty Boomerang estate, the Jobbins family were its unofficial caretakers.
$23M PROPERTY PERFECT PRESCRIPTION FOR MARIO
Chemist Warehouse co-founder Mario Verrocchi seems set to emerge as the $23m wholefloor penthouse buyer in the boutique Hall & Campbell development overlooking Bondi Beach.
The Toorak-based Verrocchi had been intent on buying the sub-penthouse, but Goodman Australia chief and Wallaby legend Jason Little and wife Bridget have reputedly opted not to acquire the 285sq m fourth floor penthouse, which comes with 85sq m on the third floor, and 443sq m space all up.
They had been pinpointed as the $23m off the plan buyers in mid-2024.
Meanwhile, Verrocchi, who has an estimated $7bn plus wealth, has apparently quickly flicked the sub-penthouse on to colleague Mario Tascone, who joined Chemist Warehouse as an intern pharmacist in the late 1980s.
Tascone and his wife Alison, of Balwyn North, will end up holidaying in the $21.5m two-level Bondi Beach sub-penthouse in the complex developed by Capitel Group’s Eduard Litver and Rebel Property Group’s Allen Linz.
The site of the 1950s Bates Milk Bar, known for its choc-malt milkshakes until its 2001 closure, was bought for redevelopment for $19.12m in 2016.
Bondi Beach’s highest priced single apartment remains the $24m buy in 2022 by Multiplex heir Andrew Roberts on Notts Ave.
The most recent Notts Ave sale saw derivatives trader Andrew Killion emerge as the $11.8m buyer of the apartment of Peter Scutt, CEO of Mable, and wife Nadia Jacob, a property decorator. It sold through Ben Collier at The Agency having paid $8.08m in 2021 for the two-bedroom apartment in the 1980s block.
It seems likely be an in-between home for Killion, who last year spent $20m on a duplex in Tamarama he will demolish and build a new home.
At the northern end of the beach, the Rubenstein brothers have secured $5.05m for their investment property in the Cadigal complex from Kim Newton.
It had been listed with $4.7m guidance by TRG’s Jarryd and Gavin Rubinstein.
Their apartment in the redevelopment of the Bondi Diggers Club cost $3.025m in 2017.
FORMER GOVERNOR FAREWELLS BEACH PAD
Dame Marie Bashir, who was NSW’s first female governor, has sold her six-bedroom, three-bathroom Palm Beach weekender.
The Pacific Rd ridgeline offering, with views of the ocean and Pittwater, came with a classic home on its level 1265sq m block.
The two-level home, with an expansive north-facing deck, had been listed through LJ Hooker with $10m guidance.
It was snapped up on Friday ahead of expressions of interest closing on November 5.
Dame Marie and her late husband, former Wallabies captain and Sydney lord mayor Sir Nicholas Shehadie, bought it for $1.026m in 1998, which was a subdued year for sales on the Northern Beaches playground.
The couple secured it shortly after it was passed in at auction at $1.01m.
Just $50m in sales were recorded in 1998, compared with $80m in 1997.
There was a $750,000 average price in 1998.
PropTrack puts the current median at $4.9m after 30 house sales over the past year.
The annual tally exceeds $200m.
Dame Marie was the second-longest-serving governor of NSW, with 13 years in the role from 2001 to 2014.
Born in Narrandera, she downsized to an Astor apartment building just before the sale of their longtime Cremorne home for $7m in 2020.
Sir Nicholas, who died in 2018, and Dame Marie had purchased their Shellbank Ave home for $57,000 five decades earlier in 1968. They had married in 1957.
JOSH’S SALE A MATTER OF CONVENIENCE
Podcaster Josh Szeps and his husband Sean have sold their Petersham terrace for $1,912,000.
Adrian William agents held the Station St listing, offering $1,825,000 guidance.
The 1880s two-bedroom, one-bathroom Victorian terrace was once the local convenience store.
With plenty of exposed bricks, it spans two levels. Set on 107sq m it has an outdoor courtyard with a rear office space.
Szeps was married in 2014, in New Hampshire, to American social media marketing specialist Sean Gallerani.
Having returned from New York with their three-year-old twins, the terrace was bought for $1,706,000 in 2021, while locking in a three-year interest rate at the 2 per cent pandemic emergency levels, along with help from “the bank of mum and dad”.
They have decided they need another bedroom for their son and daughter.
PropTrack put Petersham’s median two-bedroom price at $1,717,500, and $2,175,000 for all houses.
Since Josh quit his ABC Radio gig in 2023, he has pursued creative ventures including his podcast, Uncomfortable Conversations. He recently did a one hour 46 minute podcast with contrarian economist Cameron Murray, who argued Sydney property prices were not necessarily unexpectedly high.
NO TAKERS FOR HOMESTEAD
Bonnyrigg House, a heritage-listed homestead on 2500sq m at Bonnyrigg Heights, was passed in at $1.2m at its weekend auction.
The 1820s Cartwright St home, designed by Francis Greenway as the master’s quarters for the Male Orphan School headed by James Busby, was listed by the Department of Planning and Environment.
Gary Attard and Jorge Vasquez of Andrew Partners had three potential bidders.
TRIPLEX THAT’S FIT FOR A LORD
Davina Kreis-Tennyson, a descendant of British poet laureate Alfred, Lord Tennyson, has spent $10.5m buying in Clovelly with her husband, Christian Kreis.
Davina is the great great-grand daughter of Lord Tennyson. The links to Australia began when the poet’s elder son Hallam served as the governor-general in 1903.
The Cliffbrook Parade, Clovelly triplex on 354sq m was sold through PPD.
TAKE A PEEK AT THE TIGERS
A Lilyfield townhouse project will have dress circle views over the West Tigers’ Leichhardt Oval on completion.
The 2306sq m Chapel St holding has $14m guidance for its November 15 auction through CobdenHayson agent Ben Southwell in conjunction with Colliers.
Approval came last month for its seven Torrens title lots.
It was the Methodist Church home for aged women.
Got a property news tip? Email jonathan.chancellor@news.com.au
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