Excel Coal chief Chris Ellis snatches up Watsons Bay mansion
The Queensland-based co-founder of Excel Coal, Chris Ellis, has acquired 30 Pacific Street, Watsons Bay, for $16.8m.
The Queensland-based co-founder of Excel Coal, Chris Ellis, could be looking to amalgamate one of the Sydney Harbourfront’s most significant parcels after acquiring 30 Pacific Street, Watsons Bay, for $16.8 million from Hong Kong press baron CK Ma. Ellis and wife Sandrina Postorino also own the adjoining Pacific Street waterfront mansion but sources said neither of them live there and it is unclear what their plans are. “There are very few properties that have such a significant landholding fronting Sydney Harbour,” says selling agent Michael Dunn, principal of Richardson & Wrench Double Bay, who did the deal in late June. Mr Ma, also known as Walter Marr, finally sold the Pacific Street waterfront on 1000sq m five years after he first listed it for $20m. Richardson & Wrench Double Bay agent Glenn McMillan was also involved with the deal. The agents sold the waterfront through a marketing campaign with a closing date attracting three serious bidders. The agents fielded various offers on the five-bedroom and six-bathroom property in the mid-teens. The Ellis and Postorino amalgamation is just around the corner from Camp Cove Beach, which has a range of wealthy owners, including developer Phillip Wolanski. Ellis and Postorino bought the 2002-built 32B Pacific Street, Watsons Bay, property on 890sq m in 2014 for $12.9m.
Bachelor pad for sale
The Bachelor host Osher Gunsberg has put his one-bedroom Bondi Beach investment apartment on the market with hopes of reaping at least $1m. The loft-style apartment was purchased in 2006 for $550,000. Belle Property Double Bay agent Albert Sassoon is selling the two-level apartment in The Precinct building. Gunsberg is apparently keen to upgrade in the area. The loft-style apartment with one car space is expected to be auctioned on August 27. Sassoon declined to comment.
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