Billionaire Will Vicars swoops on Bondi Pacific for seventh time

Billionaire fund manager Will Vicars has bought another investment property at Bondi Beach, splashing $2.55m on an apartment in the Bondi Pacific complex.

The Bondi Pacific building overlooking Bondi Beach.

Billionaire fund manager Will Vicars has bought another investment property at Bondi Beach.

It was a loose change $2.55m purchase of an apartment in his favourite complex, the Bondi ­Pacific.

He snapped it up rather well, since it had a $2.8m asking price, only selling after 110 days on market through Steven Chen of The Agency Redfern.

Fund manager Will Vicars. Picture: Nic Walker

The two-bedroom, one-bathroom apartment last traded at $1.59m off the plan in 2012.

It had been listed for rent at $1900 a week last February, reflecting 3.9 per cent gross annual rental yield.

The purchase takes the Vicars’ purchases in the prestige Campbell Parade complex to seven apartments, costing $45m.

They include a penthouse which cost a then record $10.05m off the plan in 2012, followed by its neighbouring space in 2013 for $10.9m, and a third penthouse for $11m in 2016.

Vicars has expanded his purchasing interest to the Ben Buckler headland at North Bondi and across to Gaerloch Avenue, Tamarama.

Often buying through his tax lawyers, Vicars’ known purchases across the eastern suburbs coastal precinct total around $115m.

Vicars, whose wealth was put early last year at $1.24bn on The List – The Richest 250, resides on the Point Piper harbourfront, and has a Lovett Bay weekender on Pittwater and a Southern Highlands farm.

Beach peach

Bondi Beach had the nation’s priciest advised weekend auction result.

The $8.5m sale came pre-auction for the three-bedroom, three-bathroom apartment at 134 Campbell Parade.

The price guidance had been $8m.

There was a design collaboration between MHNDU and Lawless & Meyerson, with the works undertaken by Tenacon Constructions behind its 1918 Eurangi street facade for the vendor, the Craig Anderson-led Princeton Financial Services.

It comes with ceilings reaching up to 3.6 metres and views stretching from Ben Buckler to Icebergs from its heritage bay ­window.

There are two car spaces.

The modernised apartment at Campbell Parade, Bondi Beach, was the top advised weekend result, selling pre-auction for $8.5m.

The buyers were a family from the eastern suburbs.

“They have bought it as an investment with the plan to use it as their beach home in the future,” McGrath selling agent James Ledgerwood said.

There were 60 prestige Sydney auction listings seeking $5m-plus, with 25 auctions cancelled or postponed, along with 20 sold before and just four sold under the hammer.

There were no sale results for the remaining 11 prestige listings.

A $12m Manly harbourfront offering remains for sale.

Some 959 homes went under the hammer in Sydney over the past week, the highest volume since early December.

Some 74.4 per cent of auctions sold, down from 76.6 per cent in the week prior, which was revised to 67 per cent after final results, according to Tim Lawless at CoreLogic.

It was Sydney’s third consecutive week where the preliminary clearance rate has been above 70 per cent.

Manic Melbourne

Melbourne had the most auctions at 1467, its highest weekly volume since late October.

Some 72 per cent have been reported as successful so far, up from 70 per cent a week ago.

Melbourne’s top result was the unreported $6.55m sale of 31 Wilson Street, Carlton North, sold amid the heatwave and strong winds.

The renovated 1890s boom-style family home with studio extension by architect Robert Simeoni was set on a 604sq m holding.

Melbourne’s top weekend sale was $6.55m in Carlton North.

The house was announced on the market at $6.35m, with bidding then from two parties.

Its price guide had been $6.2m to $6.5m.

It last sold in 2004 for $1.62m.

Buyers agent Mal James reported a five-bedroom Edwardian residence in Kew sold at an undisclosed price after being passed in on a $6,025,000 vendor bid.

There were 11 houses across Kew with weekend auction signage, but the auction marketing billboards were far outnumbered by the preponderance of pre-election corflutes for the local member, Monique Ryan, that line many streets.

A five-bedroom 1920s house at 21 Sunnyside Avenue, Camberwell sold post-auction at $4.96m after being passed in at $4.85m, James advised.

In the clear

With confirmation of the much-anticipated RBA rate cut, the auction market responded fav­ourably. “The trend in clearance rates has continued to rise, with the preliminary success rate coming in at 72.1 per cent this week, up from 71.2 per cent,” Lawless says.

It was the highest preliminary clearance rate since July.

“The last time we saw four capitals with a 70 per cent plus preliminary clearance was the week ending July 7,” Lawless says.

Nationally some 2820 auctions were held last week, the highest volume since early December, although volumes were slightly lower than the same time last year.

Across the smaller auction markets, Adelaide hosted 151, with 71 per cent reported as successful so far. Some 138 homes were taken to auction in Brisbane, with the lowest preliminary clearance rate of any capital at 53 per cent.

Perth’s top result came in Dalkeith at Minora Crescent.

The 88 homes taken to auction in Canberra had a 70 per cent preliminary clearance rate.

Perth had limited numbers, but Ray White Western Australia auctioneer Mark Whiteman advised an 85 per cent clearance rate for his 10 listings. Ray White agent Vivien Yap scored Perth’s top sale in Dalkeith.

The updated five-bedroom, three-bathroom 1950s home at 68 Minora Crescent, Dalkeith sold for $3,288,888.

Set behind its white picket fence, the 68 Minora Road home on 1012sq m was marketed as having “the powerful significance of the number 68, renowned for symbolising luck and prosperity in modern culture.

“The home is the result of a year-long collaboration between a skilled Feng Shui master and architect, ensuring every detail aligns perfectly with the family’s astrological and BAZI destiny analysis.”

There were 12 registered bidders, with four placing bids.

The home last sold in 2014 for $2,368,000.

Making the move

The appointment of Paul Martyn last December as the South Australia Department of Energy and Mining CEO has triggered the listing of the Brisbane home of the public servant and his wife Jen. There is a $2.5m-plus price guide with offers due March 6 through Gabrielle Baker at Queensland Sotheby’s International Realty Brisbane.

The updated mid-century home in Tarragindi.

The updated mid-century Tarragindi home has had only two owners. It was the family home of architect Ron Petersen for four decades until the Martyns bought it in 2011 for $825,000.

Located 6km from the Brisbane CBD, it has signature timber finishes, plus original cork ­ flooring.