Celebrity wrap: Billabong founder sells investment, interior designer finds buyer in Palm Beach
Billabong founder Gordon Merchant has sold an Angourie, Northern Rivers investment property.
Merchant, who founded the surfwear company in 1973, paid $680,000 for the three level townhouse opposite the beach in 2004.
He recently sold the two bedroom property furnished for $755,000.
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First National Real Estate Yamba agents Jo Boxsell and Dave Grams sold the property which had been advertised as a $650 a week rental.
Merchant owners a mega-mansion nearby, having spent an estimated $12 million to build the three level home just over 10 years ago over three blocks. It has a video camera installed to check the surf.
From one Justine to another
Interior designer Justine Hugh-Joneshas sold her Palm Beach home.
The plantation-style beach home fetched $2.02 million from Justine Cullen, editor of DJ’s fashion magazine Jones, and her producer husband Hayden Guppy.
The 1950s five-bedroom Barrenjoey Rd home was renovated into a whitewashed residence, after paying $1.5 million in 2007. LJ Hooker agent Peter Robinson secured the sale.
Earlier this year Cullen was caught in the property downturn, selling at Avalon for $300,000 less her asking price of $2.1 million — pocketing $1.8 million.
Chinese developer revealed as buyer
The buyer of Point Piper’s most expensive sale of 2019 has emerged as Chinese developer Jack Lin.
He paid $12.9 million for the home of Blue River Capital co-chief executive Grant Fuzi and wife Naomi.
The six-bedroom Wolseley Rd home was designed by Alex Tzannes, and overlooks the boats of Rose Bay.
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Lin made headlines three years ago when, at age 24, he spent $8 million on the Point Piper apartment of former supermodel Kirsty Hinze-Clark and her billionaire husband, Netscape founder Jim Clark. His new purchase is a step up.