Celebrity wrap: Billabong founder sells investment, interior designer finds buyer in Palm Beach
Billabong founder Gordon Merchant has sold his Northern Rivers investment, while a fashion magazine editor has snapped up the Palm Beach home of a notable interior designer.
Billabong founder Gordon Merchant has sold an Angourie, Northern Rivers investment property.
Merchant, who founded the surfwear company in 1973, paid $680,000 for the three level townhouse opposite the beach in 2004.
He recently sold the two bedroom property furnished for $755,000.
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First National Real Estate Yamba agents Jo Boxsell and Dave Grams sold the property which had been advertised as a $650 a week rental.
Merchant owners a mega-mansion nearby, having spent an estimated $12 million to build the three level home just over 10 years ago over three blocks. It has a video camera installed to check the surf.
From one Justine to another
Interior designer Justine Hugh-Joneshas sold her Palm Beach home.
The plantation-style beach home fetched $2.02 million from Justine Cullen, editor of DJ’s fashion magazine Jones, and her producer husband Hayden Guppy.
The 1950s five-bedroom Barrenjoey Rd home was renovated into a whitewashed residence, after paying $1.5 million in 2007. LJ Hooker agent Peter Robinson secured the sale.
Earlier this year Cullen was caught in the property downturn, selling at Avalon for $300,000 less her asking price of $2.1 million — pocketing $1.8 million.
Chinese developer revealed as buyer
The buyer of Point Piper’s most expensive sale of 2019 has emerged as Chinese developer Jack Lin.
He paid $12.9 million for the home of Blue River Capital co-chief executive Grant Fuzi and wife Naomi.
The six-bedroom Wolseley Rd home was designed by Alex Tzannes, and overlooks the boats of Rose Bay.
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Lin made headlines three years ago when, at age 24, he spent $8 million on the Point Piper apartment of former supermodel Kirsty Hinze-Clark and her billionaire husband, Netscape founder Jim Clark. His new purchase is a step up.
Originally published as Celebrity wrap: Billabong founder sells investment, interior designer finds buyer in Palm Beach