Rene Rivkin’s former resort home Sentry Rock sells

A Sydney family snaps up Rene Rivkin’s former resort home Sentry Rock on a wide reach of the Hawkesbury River.

Sentry Rock, The Hawkesbury River. Supplied

Law and unit order

McGrath’s newly appointed chief executive, Eddie Law and his wife Lisa, have paid $3.75m for a three-bedroom, four-bathroom apartment in Sydney’s Neutral Bay, buying off the plan through developer Allen Linz, managing director of Rebel Property Group. Law, who was appointed head of McGrath in August, purchased the 183sq m apartment in the Bay House development in Thrupp Street in a bid to downsize from the couple’s Lindfield spread, which will soon hit the market. “Bay House was of appeal given the location but more importantly we were seeking a quality development which did not compromise on layout, space and overall finish,” Law said. “Bay House met our demands and, given my confidence in Allen to deliver, both Lisa and I were happy to commit.” Law took the helm of McGrath in ­August and, at November’s AGM following a significant $10m turnaround in EBITDA and strong FY21 half-year guidance figures ($6m-$6.5m), indicated the likelihood of a return to dividends for the real estate agent’s “patient” shareholders. Law will list Lindfield in the next few months to take advantage of the pent-up demand for luxury properties within the catchment areas of quality local government and private schools. Completion of the Bay House development is scheduled for December next year.

EDDIE LAW, CEO MCGRATH SOURCE: SUPPLIED

Mawhinney’s mission

The founder of the embattled investment outfit Mayfair 101, James Mawhinney, has relocated from Melbourne to far north Queensland’s Mission Beach in a bid to re-establish himself. Mawhinney claims there has been ­little appetite for the 100-plus Mission Beach houses, apartments and swathes of vacant land that receivers McGrath­Nicol are marketing. McGrathNicol were appointed receivers by a key financier to Mayfair 101 in August. Asked how he had been received in Mission Beach, Mawhinney said locals were glad he had returned. “If there are any naysayers we are yet to meet them,” he said, adding that there were for sale signs in just about every street.

Sentry Rock sold

A Sydney family snapped up Rene Rivkin’s former resort home on a wide reach of the Hawkesbury River just two week’s after it hit the market. Sentry Rock, as it is known, was also home to the nation’s father of fast foods, Bob Lapointe. It hit the market early last month through Deb Cullen of Cullen Royle and Trent Iverson of Harris Iverson Real Estate, with both agents declining to comment on price or buyer identity. The asking price via an expression of interest campaign was $10m-$12m given Sentry Rock commands $25,000 as a luxury weekly rental. Book-ended by the 14,834ha Dharug National Park at the rear and 11,000ha-plus Marramarra National Park in front, Sentry Rock was Rivkin’s brainchild. It was built out of wood and stones initially as a log cabin, but the property has been expanded into a lavish six-bedroom home replete with all manner of luxuries including a jacuzzi and sauna, two waterfalls and a butler’s pantry behind the freshly renovated kitchen. The vendor was Louise Cordina, who runs the $400m Cordina Farms, and her horseman husband Glenn North.

Sentry Rock, The Hawkesbury River. Supplied