Laser Clinics co-founder Babak Moini pulls top-priced Mosman listing

Sydney’s priciest weekend listing, a Mosman trophy home, was pulled on auction-eve by Babak Moini, co-founder of Laser Clinics Australia.

Babak Moini’s Muston St, Mosman home, which was pulled from the market on the eve of its auction.

Sydney’s priciest weekend listing was pulled auction-eve in Mosman by Babak Moini, co-founder of Laser Clinics Australia.

The Muston St trophy home hit the market in mid-May seeking $17.5m, but the expectations were revised to $15m-$16.5m by early this month.

Its out-of-area agent, Lisa Novak at Novak, who has the listing in conjunction with the Atlas agency, retains the same post-auction pricing guidance.

The five-bedroom, two-storey house has had a makeover since Moini bought it in 2015 for $6.49m from David Findlay, chairman of telco Vertel.

The architectural design by architects Emili Fox and Conrad Johnston came with interiors by Sheira Said at Sheira Design. The contemporary glass and steel home comes with views of Middle Harbour, Manly and North Head.

Moini, who with Alistair Champion sold Laser Clinics for $650m to private equity’s KKR in 2017, will relocate to his four-bedroom unit on the 41st floor of Crown’s One Barangaroo Tower that he bought in 2021 for $22m.

Sydney’s North Willoughby had the nation’s top advised sale when $7.55m was secured for a new five-bedroom, five-bathroom home on a 581sq m block through Rawa Norman at Di Jones. Built by HRK Plus, the Forsyth St home has 370sq m internal space with double brick and concrete slab construction. The land cost $3.3m in 2021.

There were 829 auctions held in Sydney returning a 70 per cent preliminary clearance rate, down on the prior week’s 75 per cent, which was revised to 65 per cent on the final tally of agent notifications, according to CoreLogic. The results include a pre-auction sale when 111/186 Campbell Pde, Bondi Beach sold for $6.55m through James Ledgerwood at McGrath.

Spanning 114sq m, the three-bedroom Bondi Pacific apartment sold for $3.43m in 2016. It was a $4890-a-week rental last year.

Designer lures $1.98m

Liane Rossler, co-founder of Dinosaur Designs, has sold her Bondi Junction penthouse investment for $1.98m through McGrath Paddington agent Georgia Cleary.

All three registered parties bid.

There was a $1.7m guide for the two-bedroom, one-bathroom offering with 132sq m single-level space, including a 38sq m terrace.

Rossler lived in the apartment in Sydney’s east before relocating to Queens Park with architect husband Sam Marshall.

The Old South Head Rd property had been bought in 1993 for $275,000 by the artist, designer and curator who has spent the past two decades focused on projects that intersect design, sustainability and the environment.

The top-floor space was for rent at $1550 a week in September last year.

Clearance rate rises

Across Melbourne, 920 homes were taken to auction last week, compared to 1083 in the prior week and 744 one year ago. Melbourne’s preliminary clearance rate came in at 72.9 per cent, the second-highest preliminary clearance rate so far this year, according to Tim Lawless at CoreLogic.

It was up from 70 per cent in the prior week, which was revised down to 63.7 per cent on the final tally.

Melbourne’s top advised sale was a restored Californian bungalow in Alphington at $4.51m.

The five-bedroom, three-bathroom Naroon Rd house had been marketed by Jellis Craig agent Sam Rigopoulos with $3.6m-$3.9m guidance.

The house comes with hydronic underfloor heating, 13.5kW solar panel system and battery, plus Tesla wall charger.

The 1937 triple-brick Burke Rd, Kew that was sold pre-auction.

There was no price disclosure on the pre-auction sale of the 1937 triple-brick Burke Rd, Kew residence built by Ernest Watts, whose company had also constructed the MCG’s 1936 Southern Stand.

The home’s heritage citation suggests its design evokes the scale, detailing and utopian qualities of Italian contado villas.

It last sold in 1986 for $410,000 to the Pagano family, who have sold to the Patras family.

The Spachus property price tracker website advised it was listed at $5.25m hopes, which were reduced to $4.95m during its marketing.

Adelaide shines

Across the smaller auction markets, Adelaide recorded the highest preliminary clearance rate at 84 per cent, followed by Canberra’s 76.5 per cent and Brisbane on 66 per cent.

Adelaide’s top sale was the stone-fronted, 1961-built home at 28 The Common, Beaumont that sold through Stephanie Williams at Williams Real Estate for $3.8m.

The mid-century-style home last traded in 2011 for $1.97m.

Adelaide’s top sale came in Beaumont at $3.8m

‘Hinterland Wategos’

The priciest regional weekend auction result was $3.4m at Coopers Shoot in the Byron hinterland in northern NSW.

The 2.2ha Byron Creek Rd listing through Tim Miller of Tim Miller Real Estate had last sold in 1984 for $44,800.

There was a nearby $4.25m midweek sale of the 2.01ha holding at 280 Picadilly Hill Rd by McGrath Estate Agents.

The latest listing is by Jigsaw Capital founder RichardNorgard and wife Therese, who have a price guide of $12m through Kim Jones at Kim Jones Property.

Jones markets the Coopers Shoot locality as the “Wategos of the hinterland”.

The private equity investor paid $3.67m in 2018 for the four-bedroom Coopers Shoot Rd house with a wraparound deck.

It is split into two wings, connected by a louvred gallery.

Set on 3966sq m of landscaped gardens, there are 180-degree views over lush pasture to the coastline.

The $12m listing at Coopers Shoot in the Byron hinterland in northern NSW.

They have done extensive work including adding the pool house and deck designed by local architect John Burgess. There is also a fire-pit with amphitheatre-style seating.

Their neighbour, coal tycoon David Knappick and wife Ann, paid $24m earlier this year when they added 39ha of farmland to their initial $12.7m ultra-contemporary ridge line residence.

GemLife chief Adrian Puljich and his wife, interior designer Jessica, have the priciest Coopers Shoot listing, Hercules at $30m, ahead of their return to Queensland.

They paid $22m in June 2022 when they bought the 5.62ha property from Robert and Deborah Wild, the co-directors of the Evolve College school of massage training who had bought the retreat for $7.9m in 2014 from international music producer Tom Misner.

Auctions on a high

Auction activity remains elevated for the time of year, with 2633 scheduled for this week, 45 per cent higher than the same week last year, according to PropTrack economist Anne Flaherty.

One of the priciest auction listings is in Sydney’s Paddington with the lavish Brompton House having garnered 9902 page views so far on realestate.com.au.

It has returned to the market with a $14m guidance, again through Maclay Longhurst at Sotheby’s International, after last June’s record-setting sale failed to eventuate.

Inspired by Versailles, Jacqueline Bailey and her daughter Lilly decorated the twin Glenmore Rd terraces over five years.