Rose Bay home of Liftronic director Vladimir Debelak and wife Rachel sells for $14m

The Rose Bay home of the man behind the largest Australian-owned lift company has sold for $14m to a young family wanting to be close to the good schools of Sydney’s east.

The three-level four-bedroom residence with pool and iconic harbour views on a 407sqm block in Rawson Rd was owned by Liftronic executive director Vladimir Debelak and his wife, Rachel, who’d bought it for $1.86m in 1992. That means he got a circa $392,000 profit for each year he owned it.

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Records show the home had been for sale over the past few years and it passed in at auction last year for $9.5m when it was with different agents.

When it was picked up last year by Ray White Double Bay’s Josh McRae and Graham Bernan, there was a whisper that an off-market offer of $16.5m had been rejected. McCrae was tightlipped about both the offer rumour and the details of the final deal, saying only there were three parties keen ahead of the sale.

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The buyer’s agent, Sean Huang, who’s just set up Concierge East which focuses on international clients, said the purchaser had been residing in the CBD and wanted to move to the east to be close to good private schools.

His buyer intends to renovate and move in.

The buyers also loved the multiple entertainment zones and open-plan living areas.

Sources advised that the 87-year-old owner and his wife are moving to a Vaucluse penthouse.

A media report on Australian-made products a few years ago quoted Milan Debelak, son of Vladimir and Rachel, who co-founded Liftronic in 1985 with Kevin Addison, as saying: “To have the Australian Owned and Made logos next to our name and products is something we’re very proud of.”

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Liftronic’s story began in Egypt, where Milan’s great uncle and grandfather started a modest lift business, which his father took over at a young age.

The family arrived in Australia in the early 1960s, with just a few Egyptian pounds.

The Australian Owned supplement said that today, Liftronic’s work includes lifts and escalators on train platforms in Brisbane; car and truck lifts in Melbourne and glass lifts at Circular Quay, the Harbour Bridge and Wynyard Walks.

Originally published as Rose Bay home of Liftronic director Vladimir Debelak and wife Rachel sells for $14m