Former Cockatoo Coal executive chairman Mark Lochtenberg to make up to $1.2m on the flip of his Balmoral pad

FORMER Cockatoo Coal executive chairman Mark Lochtenberg is set to make up to $1.2 million on the luxury pad near Balmoral Beach he bought less than 18 months ago.

Former Cockatoo Coal executive chairman Mark Lochtenberg has listed his Balmoral home.

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FORMER Cockatoo Coal executive chairman Mark Lochtenberg is set to make up to $1.2 million on the flip of his luxury Balmoral pad, which he bought less than 18 months ago.

The ex-coal exec paid $5.8 million for the Edwards Bay Rd property when it was listed by former Elle editor-in-chief and co-founder of Hush Communications Debbie Coffey and her husband Ross, a photographer, in May last year.

The move followed the sale of his tightly held waterfront residence on Curraghbeena Rd for $16 million just a month prior.

Minor renovations have been made on the home including the addition of a north facing deck.

The home is only a short stroll from Balmoral Beach.

With Mr Lochtenberg now planning a move closer to the city, the four-bedroom Balmoral home set against a backdrop of Balmoral Beach has swiftly returned to the market, this time with a $6.5 million to $7 million price guide with McGrath Mosman’s Michael Coombs and Adrian Bridges.

The property has undergone minor renovations since it last traded, including the addition of a north facing deck at the back, a wine cellar, and a few other structural fixes, Mr Coombs said.

The luxury home was bought for $5.8 million less than 18 months ago.

A swimming pool, top floor parent’s retreat with a wet bar and easy access to Balmoral Beach just 150m away are additional highlights.

If the sale transacts at the top end of the price range, Mr Lochtenberg stands to make a tidy 21 per cent gain on his purchase.

The home is scheduled to be auctioned on November 5.

It has been listed with $6.5 million to $7 million price hopes.

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