Yacht broker Ian Malouf has settled his record setting Palm Beach purchase with Macquarie Bank funding.
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The beachfront home Anakela, overlooking Pittwater from its 1948sq m holding, was bought for a confirmed $40 million from the Uncle Toby’s breakfast cereal company founder Doug Shears.
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It bettered the existing $27m beachfront record set three doors away when the hospitality entrepreneur John Szangolies bought last year from Virginia Nelson, widow of the tobacco wholesaler tycoon, Arthur Nelson.
It’s a who’s who of Sydney along Iluka Rd including publican Arthur Laundy, retailer Nick Scali, Laser Clinics Australia co-founder Alistair Champion, Peter and Christa Satouris of Peters of Kensington, along with Roger Massy-Greene, the former chair of the electricity distribution company Ausgrid and his wife Belinda Hutchinson.
The luxury Iluka Rd house had traded at a record $15 million back in 2007.
The Iluka Rd house is the latest in Malouf’s $200m spending spree, topped by his $60m purchase of the ANZ penthouse on Sydney’s Castlereagh St in May 2021 from the property developer John Boyd and his wife, Marly.
According to PropTrack, the median house price in Palm Beach, NSW is $5.05m. That’s down 4.3 per cent over the past 12 months.
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Originally published as Yachtie adds $40m beach treasure to $200m portfolio
