Former Domino’s Pizza boss Don Meij offloads LA mansion for $31m

Don Meij, who started his working life as a pizza delivery driver, has sold the vast Bel Air trophy home that he bought in 2021.

Don Meij has sold this 1550sqm mansion on Bel Air Road, Los Angeles. Picture: Compass

Former Domino’s Pizza boss Don Meij has sold his vast Bel Air trophy home in Los Angeles.

The 1550sqm mansion, which boasts eight bedrooms and 15 bathrooms, fetched $US20m ($31.4m), some 4 per cent less than its $US20,875,000 purchase price in 2021.

Factoring in currency exchange benefits, Meij likely took a profit as that equated to $28.3m in 2021 and $31.4m on its recent sale.

Meij, who started working as a pizza delivery driver in Brisbane’s Redcliffe in 1987, had funded the purchase when selling his Aspen retreat for $US10.25m in 2021, having purchased the chalet in 2013 for $US3,375,000.

The Bel Air Road mansion sits on 2000sqm overlooking Stone Canyon Reservoir, sometimes referred to as LA’s Lake Como, along with the city skyline.

Its luxury features include an indoor pool and spa, home theatre and wine cellar, with multiple patios, according listing agent David Kramer at Compass.

Former Domino's Pizza boss Don Meij. Picture Lachie Millard

Meij first listed the hillside property in 2023 seeking $US29.95m, then seeking $US27.9m, which was reduced by late 2024 to $US22.95m, according to Realtor.com.

The LA market had been sluggish since a real ­estate transfer tax rise came into effect in April 2023 imposing a 4 per cent tax on sales over $US5m, up from 0.45 per cent, and a 5.5 per cent tax over $US10m.

It was estimated that tax would raise $US600m to $US1.1bn annually; however, by late 2024 the tax had brought in just $480m given the lack of sales turnover, according to a study by the University of California.

Revenues are directed to affordable housing production and homelessness prevention.

Meij, who made headlines in 2018 when his $36.8m chief executive officer salary ranked as the biggest corporate pay packet in Australia at the time, was Domino’s CEO for 22 years, until November 2024.

He now resides in an apartment overlooking the Brisbane River at Newstead. The 537sqm Cavcorp-built Luminare penthouse was bought off the plan for $12.95m swapping it after selling his abode in Hamilton for $8.3m to car dealer Martin Roller.

Federation flavour

Sydney’s Hunters Hill had the nation’s top weekend auction result when $9,225,000 was paid for Marika, the 1904 Federation offering.

The five-bedroom, four-bathroom home sits on a 2472sqm holding with tennis court, pool and a self-contained studio, on Augustine Street near the corner of Ryde Road.

The residence, which has been restored and extended with a modern pavilion-style extension, sold to a family from nearby Pulpit Point.

There was an $8m opening bid with two of the five registered bidders competing. Its price guidance had been $7.5m to $8.25m.

Marika, in Hunters Hill, scored the nation’s top weekend auction result.

It was built by dentist Leopold Carter, who sold it in the 1930s to the Caveneagh family who retained it until the 1980s.

It has been more regularly traded in recent decades It last sold in for $3.32m in 2015, in 2009 at $2,825,000, and $2m in 2002.

There were 398 auctions in Sydney, which returned a 66.2 per cent preliminary auction clearance rate, down from 67.9 per cent, according to CoreLogic.

The weekend’s second-highest known sale was in Sydney’s Sutherland Shire where 19 Lomandra Place, Alfords Point sold under the hammer for $5,288,000.

Three of the four registered bidders competed for the grand 2014-built home on a 6620sqm bushland holding.

The vendors are upgrading to a bigger land holding, Ray White Sutherland Shire agent Matt Debreczeni said.

Clearance slide

With 1080 listings, the national preliminary auction clearance rate slid slightly to 64.2 per cent, down from 64.7 per cent during the Easter break.

“This week marks the lowest preliminary clearance rate since mid-December 2024,” CoreLogic’s Tim Lawless said.

“The trend in auction clearance rates has been gradually easing since the week ending February 23, when the preliminary clearance rate reached 72.1 per cent following the 25-basis point RBA rate cut on February 19.”

Noosa was among the busiest auction locations, with three of its seven listings finding buyers.

Its priciest now comes with an $8.55m asking price through Tom Offermann Real Estate agent Tim McSweeney.

The five-bedroom, four-bathroom 36 Seaview Terrace, Sunshine Beach listing has attracted some 4677 page views on realestate.com.au so far. PropTrack says the nation will see 2090 auctions this week and next.

Southern surge

Melbourne has the nation’s top clearance rate, while also being the busiest capital, hosting 472 auctions. Its preliminary clearance rate of 67.6 per cent, was up from 61.1 per cent a week earlier, according to Corelogic.

However, Melbourne’s priciest listing failed to sell when passed in at $3.26m at its Sunday afternoon auction in Balwyn.

The five-bedroom, three-bathroom home had come with $3.3m to $3.63m guidance from Ray White agent Helen Yan, who started marketing it in early March. No distracting political corflutes anywhere on Knutsford Street, unlike the overload in signage for incumbent Monique Ryan and her opponent, Amelia Hamer, elsewhere in the eastern suburbs electorate.

The three-level 2014 Trevor Hoyle-built brick house, which was last sold in 2021 by Zhang Xiaoming for $3.06m to Yang Li, drew a crowd of 80 at its overcast one-bid auction.

PropTrack puts the Balwyn median house price at $2.88m, down 6.7 per cent annually, but up on its $2.55m median in 2021.

Prize winner sells

Canberra had 31 scheduled auctions, with a 45.8 per cent success rate so far, the lowest of any capital city.

The ACT’s priciest weekend auction listing at Forrest was postponed until May 10, with its price guidance remaining $4.5m-plus.

Designed by architect Dominic Romano, the 9 Dampier Crescent home is 633sqm in size sitting on a 2267sqm holding, and was the winner of HIA best custom-built home in 2007.

Its official land value is put at $3.3m.

Perth only saw four results with its top sale in Sorrento for $2.325m.

Three of the nine registered bidders sought the keys of the 1970s home at 6 High Street offered through Scott Langley at Ray White North Quays.

The young builder-buyer is looking at extensions.

The vendor was an east coast investor who paid $1.65m in 2021, with it most recently rented at $1250 a week.

Pala, on Winch Court, Mermaid Waters, has attracted big interest.

Focus of attention

The most viewed residential listing on realestate.com.au last week was Pala, on Winch Court, Mermaid Waters, which is scheduled for a May 16 Kollosche Prestige auction.

Located on Lake Wonderland, the four level house features five bedrooms, open plan living and a rooftop terrace boasting Gold Coast skyline views.

The property, designed by Joe Snell of Studio Snell for owner-builders Rob and Tui McKinnon of Havendeen Projects, has attracted more than 14,250 views in its first two weeks on realestate.com.au.

The residence sits on a 1113sqm site with a 46m water frontage, with landscaping by Nest Landscape Design.

The McKinnons purchased the property for $2,125,000 in 2018.