Investor buys neighbours’ houses, tries to flip them for $23m-$25m

By Tawar Razaghi

March 30, 2025 — 5.00am

Property investor Jason Camuglia is offloading a rare double land holding in Watsons Bay moments from the water with a guide of $23 million to $25 million.

The two adjacent properties are more than 1300 square metres if sold in one line in the exclusive harbour enclave.

One of the two houses on the double land holding in Watsons Bay.Credit:

Camuglia purchased the first property, which features a four-bedroom house with two bathrooms, and a large garden with secure access to Camp Cove Reserve, for $12.38 million in 2021. The home has been rented out for $3000 a week since 2022.

He later went on to purchase the neighbouring fisherman’s cottage for $6.4 million in April last year from film editor Sara Bennett, who is known for Gallagher’s Travels (1987), Summer of Secrets (1976) and Summerfield (1977). The first drama she assisted on was Skippy in 1969.

The picturesque weatherboard home has three bedrooms and a bathroom as well as DA approval for a car space.

While Camuglia planned to amalgamate the two, he has decided to sell them with buyers having the option to buy them separately or together. Either way, it is a remarkable offering for a buyer who wants a consolidated foothold in a small suburb a stone’s throw away from local institutions, including Doyles on the Beach. Camuglia hasn’t done bad for himself either, considering the uptick in his investment, whichever way it sells.

It is being sold through Paul Biller of Biller Property, who declined to comment, at a forthcoming auction.

It follows the $5.2 million sale of businesswoman Jodhi Meares’ “entry-level” Watsons Bay house last month.

Vaucluse sale ends

Freight boss Arthur Tzaneros and his wife, Maude, have sold their Vaucluse trophy home for about $45 million, local sources said.

ACFS chief executive Arthur Tzaneros.Credit: Australian Financial Review

It ends an almost two-year campaign to find a buyer for the five-bedroom, six-bathroom and six-car space property with pool, tennis court and views across Vaucluse Park to the harbour.

Set on 2266 square metres, the Tzaneros family purchased the parkside property for $32 million in 2021 from Balmain Corporation chief Andrew Griffin and his wife, Yelena Alpatova.

The family upgraded not long after, purchasing the Bellevue Hill mansion of businessman Leo Lynch, from the family that founded the ASX-listed flower wholesaler Lynch Group, for $61.5 million.

David Malouf of Highland and Michael Pallier of Sydney Sotheby’s International Realty were the listing agents but declined to comment.

Manly moves

Gold bullion dealers Kurt and Nathalie Jaggard are calling time on their waterfront property on Manly’s prestigious Eastern Hill after deciding to spend more time overseas.

They have a price guide of $15 million to $16.5 million on their six-bedroom, four-bathroom townhouse, which is a consolidation of two properties in a boutique block of three.

The consolidated Manly house has ocean views.Credit:

Since the Jaggards purchased the units for $5.75 million each in 2022, they have made modifications, opening up the two homes and renovating them internally.

There are no other directly comparable properties because so few homes come up on the peninsula – its direct access to the sea pool is rare still.

It is being sold through Cherie Humel and Michael Clarke of Clarke & Humel Property and is scheduled to go under the hammer on Saturday, April 12.

Weekender up for grabs

Further up the Northern Beaches, the former managing director of Queensland-based building company Seymour Whyte, Brian Riggall, and his wife Jane have listed their Sydney holiday home in Palm Beach with a price guide of $8.9 million.

The deep waterfront with a private jetty, boathouse (that was once a seaplane hangar) and direct access to Pittwater is set on 987 square metres of land.

Purchased for $6.65 million in 2021, the two-bedroom, two-bathroom house comes with DA-approved plans for an extension of the jetty that will become a state-of-the-art pontoon, allowing a berthing area for larger boats.

The deep waterfront in Palm Beach has a DA to transform its jetty into a state-of-the-art pontoon.Credit:

Featuring mid-century cedar and sandstone, the sun-soaked property has a wraparound deck and 180-degree water views.

It is being sold through BJ Edwards of LJ Hooker Palm Beach in an expressions-of-interest campaign, which closes on Wednesday, April 30.

House of fizz

Beverages industry stalwart Peter Brooks has sold his Woollahra property for around its last price guide of $16 million.

The beautiful six-bedroom, five-bathroom house spans three levels, featuring a marble island kitchen and a caterer’s kitchen with high-end appliances from Gaggenau and Zug.