Eastern Freeway Porsche driver Richard Pusey sells South Geelong apartment block for near-$1m gain

Hated Eastern Freeway Porsche driver Richard Pusey has scored a huge windfall on his Geelong apartment block investment.

Eastern Freeway Porsche driver Richard Pusey’s 1-6/3-5 Fyans St, South Geelong, apartment block sold this month to an investor.

Reviled Eastern Freeway Porsche driver Richard Pusey has reaped an almost $1m gain on the sale of his rundown South Geelong apartment complex.

The block of six dated two-bedroom apartments at 1-6/3-5 Fyans St, South Geelong, sold this month to an investor for $1.72m.

Pusey sparked outrage in April last year when he filmed and taunted dying truck crash victim Senior Constable Lynette Taylor in her final moments.

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Whitford director John Moran said the dated kitchens could do with a renovation.

An auction for the complex in December failed to attract a buyer.

He was jailed for 10 months after pleading guilty to outraging public decency and other charges.

CoreLogic records show Pusey, a mortgage broker, paid $794,000 for the complex in 2007, selling it for $926,000 more.

Whitford director John Moran said the buyer intended to keep the current tenants and potentially renovate the “dated” complex down the track.

“I don’t think there was any work done since it was built, the kitchens and bathrooms were original,” Mr Moran said.

“They (the buyer), can do it up and sell them off individually, or sell three and keep three, or do them up and get a higher rent.”

Pusey attracted public uproar when he filmed dying Senior Constable Lynette Taylor on the Eastern Freeway roadside in April last year. Picture: Ian Currie

Pusey has sold a number of his other property investments since the Eastern Freeway crash.

He offloaded six other homes in four months worth a total of almost $6m between late last year and early this year.

And records indicate that at the time of the crash last year Pusey and his wife had a property investment portfolio worth about $12m.

Mr Moran said he was unsure what motivated Pusey’s latest decision to sell because he dealt with his lawyer and not with Pusey himself.

An attempt to auction the apartment complex in December fell flat after it was passed without a single buyer bid placed. The block was then advertised for $1.7m-$1.8m.

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