Top venture capitalist swoops on Bowral
Sydney venture capitalist David Shein has invested nearly $5m in the Southern Highlands by snapping up a weekender as interest in Bowral real estate remains steady.
High-profile Sydney venture capitalist David Shein has invested nearly $5m in the Southern Highlands, purchasing a weekender retreat as interest in Bowral real estate continues to grow as prices remain steady.
Mr Shein, who sold his start-up specialist supplier of networking products Com Tech Communications for $1.1bn in 2001, is understood to have paid around $4.8m for a lavish estate in Myosotis Street, Bowral just prior to Christmas.
The property is listed on CoreLogic as being sold by The Agency’s partner Ben Olofsen, but Mr Olofsen declined to comment to The Australian.
The five bedroom, 5289 sqm property, on 5289 sqm, was built in 2011 and includes a swimming pool and four bathrooms. The contemporary styled Myosotis Street spread last sold for $2.75m in 2017, CoreLogic records show.
Originally from South Africa, Mr Shein, who is travelling, could not be reached for comment on Tuesday.
These days he is listed as being heavily involved with OIF Ventures, as a founder, mentor and investor of start up ventures.
Meanwhile, agents are not expecting much price growth in Bowral over the next 12 months, which is leading to renewed interest in the area south-west of Sydney.
Local Drew Lindsay agent Andrew de Montemas has just sold ‘Cobham’ 73 Bendooley Street, Bowral to locals for more than $2m. Mr de Montemas said there were more than 90 enquiries and 27 groups attended the open homes and private inspections on the three bedroom older style property on more than 2000 sqm. Demand for property in the heart of Bowral is strong, but buyers were treading with caution, Mr de Montemas told The Australian.
In nearby Sutton Forest, retired lawyer Greg Ropert and his wife Jo Ropert, have just listed “The Old Daffodil Farm” fronting 8-10 Conflict Street, Sutton Forest with a guide price of $5.75m. The property on 2.7ha includes seven bedrooms and four bathrooms, as well as a two-bedroom cottage.
McGrath Southern Highlands agent Anne Stone is marketing the property. The Ropert’s rent the two bedroom guest cottage out via Airbnb. The property includes an additional 480 sq m commercial building with a kitchen, office and mezzanine and vehicle access.