Laser Clinics co-founder relists as top agent issues buyers a warning

The Laser Clinics co-founder has relisted his trophy home as his agent issues a warning for buyers.

99 Muston St, Mosman has a $15m-$16.5m price guide.

Babak Moini, who co-founded Laser Clinics Australia, is taking his agent’s advice and relisting his Mosman trophy home in time for the busiest selling season of the year – while not dropping the asking price.

Leading Mosman agent Michael Coombs, director of Atlas, is advising homeowners to be patient if they want to sell before Christmas but also to ride the wave of increased buyer confidence and a surge of buyers he says is already up 25 per cent in the Mosman area.

“Smart buyers are making purchases before Christmas, anticipating continued market improvements as interest rates are expected to drop soon,” he says.

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Laser Clinics Australia co-founder Babak Moini sold the business for $650m in 2017. (Jane Dempster/The Australian)

“Typically, a backlog of buyers emerges, leading to a surge in sales when confidence returns, allowing buyers to purchase before selling their current homes.

“The local market remains robust and interest from expats has significantly increased. With relatively low stock levels and the best time of year to sell, a strong finish to the year is anticipated.”

Back in May, Moini, the former actuary who fell into the laser hair business after wanting to get rid of his own excess body hair, listed his Balmoral house for auction with a $15m to $16.5m guide.

The five-bedroom, four-bathroom home on Balmoral slopes had a June auction date but it didn’t proceed and the property was rested.

The Mosman home has undergone a complete makeover since 2015.

It has light interiors and stunning harbour views.

Now, 99 Muston St, Mosman is about to be relaunched and Coombs, with co-agent Lisa Novak of Novak Properties, is hopeful it will sell this time around.

Coombs says patience is key and turnkey properties are seeing the most interest from buyers. Moini’s home has undergone a complete makeover since 2015 and has light interiors, sweeping harbour views, a mosaic-detailed swimming pool and a strong emphasis on space for living and entertaining.

“As we enter the final selling period of the year we will see strong outcomes across all price points,” Coombs says.

“While I don’t expect a booming market, there’s a noticeable increase in confidence and buyer activity.

There are numerous areas to dine and relax in the home.

“For vendors who listed in September, my advice is to remain patient, as sales are taking a bit longer.”

Moini, alongside co-founder Alistair Champion, sold Laser Clinics for $650m in 2017 to private equity’s KKR.

He’s moving to his four-bedroom apartment on the 41st floor of Crown’s One Barangaroo, bought for $22m in 2021.

Coombs recently sold Sydney Swans chairman Andrew Pridham’s Mosman mansion for a new suburb record of $40m.

Originally published as Laser Clinics co-founder relists as top agent issues buyers a warning