Ian Malouf’s $61m waterfront spree

Australia’s richest garbo, Ian Malouf, recently spent $61m buying two waterfront mansions fronting the same street in Sydney’s exclusive Double Bay.

Ian Malouf with daughter Ellie in his luxury apartment at the top of the ANZ building in the CBD. Picture: Toby Zerna

Fresh from the sale of his Dial-A-Dump business, Australia’s richest garbo, Ian Malouf, recently spent $61m buying two waterfront mansions fronting the same street in Sydney’s exclusive Double Bay.

The houses, on a waterfront reserve in Castra Place, in the heart of the eastern suburbs, formed part of Mr Malouf’s $141m residential real estate spending spree, which also included his $60m purchase of an apartment in Sydney’s Castlereagh St as well as $20m for a house in Iluka Rd, Palm Beach, north of the CBD.

Mr Malouf forked out $26m for a house in Double Bay’s Castra Place, and $35m for a second one in the same street.

In the CBD, Mr Malouf negotiated to purchase a $60m luxury apartment atop the ANZ Tower from property developer John Boyd which was well down on the $66m price tag put on the apartment upon its 2018 listing.

Inside the $60m ANZ Tower apartment, which set a record for 2021. Picture: Toby Zerna

Nevertheless it was a record for an Australian stand-alone apartment sale in 2021.

The man known as “Australia’s richest garbo” made the purchase – the most expensive in Australia this year – of the four-bedroom, three-level apartment in a hurry in May.

“I had to have it. I just couldn’t get it out of my mind,” Mr Malouf told The Australian, when describing his first look at John and Marly Boyd’s opulent unit that boasts 360-degree views, five ­marble bathrooms and lavish Blainey North interiors.

“I saw it on a Friday, owned it on the Saturday. They handed it over as it was. The wine cellar, the Dom Perignon in the fridge. They certainly left it fully equipped.”

Mr Malouf, sold his Dial-a-Dump business to Bingo Industries in a $577m cash and shares deal in 2018.

Originally published as Ian Malouf’s $61m waterfront spree