Former Star casino boss Matt Bekier bets big on Bondi and Byron
Following a record-setting sale of their converted Newtown warehouse last year, Matt Bekier and his wife Melinda have bought in Bondi and Byron Bay.
Former Star casino boss Matt Bekier and his sculptor wife Melinda have reinvested the proceeds of their record-setting $13.5m Newtown home sale late last year.
Following the sale of the converted warehouse in Sydney’s inner west, they’ve bought at Bondi and Byron.
They first spent $4.9m on a four-bedroom Bondi home on a compact 380sq m and more recently $3.7m on a 10ha acreage in the Byron Bay hinterland.
The hilltop Villa Paradiso looks a savvy purchase as the five-bedroom Mediterranean style home with infinity pool and tennis court last traded amid the Covid-19 pandemic-triggered regional boom at $4.6m in late 2020.
The Bekiers had a windfall result when they doubled Newtown’s record of $6.85m. The Bakery on Australia Street was snapped up pre-auction by Energetics climate consultant Olivia Kember after having a $12m guide.
The Bekiers had bought for a then record $5.8m in 2020 from former Radio 2UE manager Bob Miller and Gay Black before undertaking a renovation of the 500sq m space with interiors by Anna-Carin McNamara.
The Bekiers had previously been based in Vaucluse, with a Callala Beach weekender.
Bekier led the ASX-listed Star Entertainment before stepping down just under two years ago after the NSW gambling regulator released its findings on the casino’s money laundering controls within its VIP business.
Gupta renovation bid
Billionaire steel tsar Sanjeev Gupta and wife Nicola are seeking Sydney City Council permission for $10m renovations to their grand Italianate mansion, Bomera in Potts Point.
The historic Wylde St home was bought for $34m in 2019 when sold by Leanne Catelan, the daughter of late property data pioneer Ray Catelan.
It was 2017 when Gupta arrived in Australia, acquiring the Whyalla steelworks in South Australia.
The Gupta’s proposed Bomera alterations and additions involve the construction of basement garaging with vehicle access via Cowper Wharf Rd, construction of a new lower-ground level below the main house and stables that will accommodate guest rooms, plus pool with light voids. There will also be a sauna, spa, yoga room, cinema and a whisky room.
The Bomera corporate trust is fronted by Aremob Pty Ltd (Bomera spelt backwards) and now directed by ANDE + CO lawyer Nitij Pal, having initially been directed by Bell Potter stockbroker Les Owen.
Meanwhile Owen and his wife Sam have listed their Trahlee Rd, Bellevue Hill home for February 28 auction. They bought for $6.5m in 2007, so could expect to have easily doubled their money or more if agent hype about Chinese buyers with deep pockets here for the Lunar New Year is to be believed.
Lucky Lunar New Year
There was a “prosperous start” to the Chinese New Year for “lucky buyers and sellers” across the nation at weekend auctions, according to the Ray White agency. It notched up a preliminary clearance rate of 78 per cent amid its 319 auctions with an average of 4.7 registered bidders and 2.9 active bidders.
Vendors who waited for auction secured 11 per cent more than the highest offer prior.
An near-unliveable home at Chatswood West fetched $1.75m, some $450,000 above reserve for a nursing home-based retired public servant, through agent Jessica Cao.
It had last traded in 1979 for $35,000.
The River Ave home attracted 13 registered bidders, with the five active bidders being developers who all intend to rebuild on the 531sq m block, set in a picturesque riverside pocket.
Auctions recover
Auction markets continued to show a solid bounce-back after the weakening results in late 2023, with the weekend capital city clearance rate rising to 76.2 per cent, the highest tally by CoreLogic since last June.
The initial February weekend had a 73.9 per cent tally, which was revised down to 68.3 per cent after the final auction results were included.
CoreLogic’s Tim Lawless noted: “It looks like the year has started with a much better fit between buyer and seller pricing expectations.”
Lawless said “stronger auction outcomes could be reflective of a boost in sentiment as expectations of an earlier than expected interest rate cut become more widespread”.
Sydney shining
Sydney saw an 80 per cent success rate from 480 results, with a staggering 194 sold before, including the acclaimed landscaper Michael Bates, who sold his historic Georgian-style sandstone house Albert House in North Sydney for $4m through McGrath agent Peter Chauncy.
The four-bedroom, two-bathroom house had been listed with $3.8m guidance, having cost $1.93m in 2010 when bought from the casting agent Martin Bedford. Sydney’s 40 per cent pre-auction tally was outdone by Alexander Phillips at PPD who sold four of his six weekend listings pre-auction in the pricey coastal eastern suburbs.
Home with a view
Adelaide was ranked by CoreLogic as the nation’s top weekend capital with an 86 per cent success rate, with its priciest sale reveal coming at $2m at Royston Park through Hamish Mill at Williams Real Estate.
Adelaide also had the most viewed listing on realestate.com.au last week, with the $5m home at 114 East Terrace, Adelaide garnering 26,000-plus page views.
Set in one of the prime parkfront positions, the 1930s home offers elevated views over the parklands towards the Adelaide Ranges.
It last sold in 2016 for $2.3m, but failed to sell when listed at $3m in 2018.
Its past owners include Sandra McLachlan, wife of former stockbroker Malcolm McLachlan who sold for $900,000 in 2000, having bought the property for $650,000 in 1997.
Booth listing agent Jamie Brown notes in the marketing that it was once owned by Rupert Murdoch’s News Corporation.
Turn up the volume
Auction volumes remain well up on the same time last February, with economist Anne Flaherty at PropTrack calculating a 24 per cent hike in listings nationally over the coming fortnight, led by Sydney at 35 per cent higher.
Seven West Media’s commercial director, Bruce McWilliam, and his mediation lawyer wife, Nicky, are among the throng having their long-held Queen St Woollahra investment property listed for February 17 auction, with a $14.5m guide through Maclay Longhurst at Sotheby’s.
The four-bedroom home, which cost $2,735,000 in 2002, has a rear garden with ornamental pear trees, trimmed in the French pollard style by Richard Haigh from Parterre Garden. It has been a $5000 per week rental.
The house next door sold for $17.5m last November through Sotheby’s.
