Tech entrepreneur now the owner of two of St Kilda’s most exclusive penthouses

AN AUSSIE tech entrepreneur has snapped up The Block’s exclusive penthouses, but the teams may not be happy with his plans.

AN AUSTRALIAN tech entrepreneur living in Melbourne has snapped up The Gatwick’s two penthouses for a “bargain” price.

In tough ongoing bids during last night’s Block auction, buyer’s advocate Greville Pabst from PropertyDuo managed to secure Carla and Bianca and Norm and Jess’ penthouses for $2.991 million and $2.859 million respectively — a gap of $132,000 between the two.

Mr Pabst, who is part of The Block’s Buyer’s Jury, was bidding on behalf of his client, who the AFR today revealed is Aconex co-founder Robert Phillpot.

“He has now got the entire floor. I don’t know what his intentions are but he could actually create one massive penthouse,” Mr Pabst told news.com.au. “Or he could just rent both of them out.

“He is incredibly happy. He was expecting to pay over $3 million (each). I had a very big limit on the penthouses and I bought them incredibly well. They were a bargain. He was absolutely over the moon.”

Both penthouses are similar sizes, about 190sq m (excluding the terraces) with Carla and Bianca’s three-bedroom, two-bathroom top-level apartment having been the favourite for most of the Block series due to is luxurious space, open terrace and northwest facing position.

Inside Carla and Bianca’s penthouse. Picture: The Block

As it is northwest facing, it gets plenty of light. Picture: The Block

“It seemed to be the one people wanted. I was surprised it didn’t hit the $3 million mark,” Mr Pabst said.

Fellow penthouse contestants Norm and Jess had an even bigger terrace but when it comes to auctions, it’s the interior size that counts.

Mr Pabst also secured Courtney and Hans’ apartment for former Gatwick Hotel owners Yvette Kelly and Rose Banks.

The twin sisters sold the building to Channel 9 last year for $10 million.

“For me, that one was quite emotional. Yvette and Rose were both crying and I really wanted to buy it for them,” Mr Pabst told news.com.au “We had a big discussion about price and in the end I was right about how much it would roughly sell for ($2.77 million).”

In the 1950s, the twin sisters’ mother Vittoria Carbone bought the hotel to help the disadvantaged.

The terrace on Norm and Jess’ penthouse. Picture: The Block

Inside their living room. Picture: The Block

After reluctantly selling the property to Nine, the sisters closed the doors of The Gatwick in July — but they couldn’t help to buy back a slice of history.

After the auction, Yvette told news.com.au they particularly loved Courtney and Hans’ apartment because it overlooked Fitzroy St. Why not the penthouses?

“We are both scared of heights,” the sisters said, laughing.

“I love the building. I know everyone was saying how horrible it was but I honestly wish I had enough money to buy the whole apartment block,” Ms Kelly said. “For us it has great sentimental value. All our kids were brought up here and now our grandkids can experience it.”

Former Gatwick Hotel owners Yvette Kelly and Rose Banks bought Courtney and Hans’ apartment.

Mr Pabst said they weren’t interested in the new apartments because it’s not where history was.

“The thought did cross their minds to buy three and it was possible to buy two but they got the one they wanted. They want to be close to the noise and action.”

Mr Pabst also secured Kerrie and Spence’s apartment for an Aussie expat based in Singapore who works in a law firm.

“It’s the best apartment on the Block in my opinion — that $250,000 kitchen looking out onto St Kilda Park to the coffered ceiling and floor plan and to get all that for $2,850,000 is incredible value.”

Inside the very, very expensive kitchen in Kerrie and Spence’s apartment.

Mr Pabst, who is the first buyer’s advocate in Block history to secure four out of five apartments, said he was pleased about the real estate industry as a whole in Melbourne.

“It’s such good news — to get a 100 per cent clearance rate is phenomenal and the market does need this confidence.”

All five apartments sold despite the city’s clearance rate hitting a six-year low last weekend at 49 per cent.

“We don’t have a property problem, we have a credit problem,” he said.

“I’ve got people that want to buy property but they cannot get finance, so it’s not a property problem, it’s a credit problem.”

Buyer’s advocate Greville Pabst from PropertyDuo managed to secure four out of five of The Block apartments for his clients. Picture: Channel 9