🏆 Trophy Home Tuesday - 4 June 2024

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Trophy Home Tuesday
June 03, 2024

We summarise the epic home sales of the ultra-rich of Australia so you get a glimpse of how they live.

Check out these pads…

Also a quick note… sometimes there are too many of these mini “how they got rich” profiles to include in the email so we post them to Linkedin — give us a follow on LinkedIn here.

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🏆 The Culture Kings are selling their 4-level $30m Gold Coast penthouse

7001/4-14 The Esplanade, Surfers Paradise QLD 4217
5 bed | 7 bath | 8 car

How’d they get rich? Simon Beard and Tah-nee Beard made their fortune starting and selling the streetwear retailer, Culture Kings.

What else?

  • In 2021 Culture Kings was acquired for $600m in a 50/50 cash + stock deal by a Summit Partners-backed fashion rollup called a.k.a. Brands

  • At the time Culture Kings was doing $200m in sales and $20m in profit

  • a.k.a. Brands was listed in late 2021 and has seen its share price fall by about 88%

View the listing here.

🏆 Fashion exec and software founder are selling their $75m+ Toorak McMansion

2 Macquarie Road, Toorak VIC 3142
5 bed | 8 bath | 9 car

How’d they get rich? Sue Lord is a former fashion exec and her husband John founded and sold a legal tech business for $125m in 2005.

What else?

  • John Lord founded nMatrix, a case management software platform, which he sold to Epiq for $100m in cash and $25m of stock in 2005.

  • He is also currently the chairman and main backer of another legal tech-focused software platform, Neota.

View the listing here.

🏆 Australia's Adam Neumann is selling his $15m+ Toorak mansion

34 Heyington Place, Toorak VIC 3142
5 bed | 7 bath | 6 car

How’d they get rich? Dan Baxter was the founder of Victory Offices which was once upon a time an ASX-listed coworking provider (aka a mini WeWork).

What else?

  • Victory Offices listed at an $80m+ market cap but fell to just $7m before it ultimately entered voluntary administration.

  • The company was smashed by the COVID lockdowns with landlords locking the company out of 3 locations and creditors chasing them for unpaid bills before the eventual demise.

View the listing here.

🏆 Australia's Pizza Don... Don Meij is selling his US$28m Bel Air palace

1940 Bel Air Rd, Los Angeles, CA 90077
8 bed | 15 bath | 13 car

How’d they get rich? Don Meij has been the CEO of ASX-listed Domino's Pizza Enterprises for 22 years.

What else?

  • Under his watch, Domino's grew its ASX market cap 100x from $130m in 2005 to $14bn at its height in 2021 — but has since tanked to $3.5bn.

  • Meij's current shareholding would have been worth almost $300m in 2021 and is now worth $65m.

View the listing here.

Other $10m+ Deals

  • $30m Toorak mansion is quietly sold to tanning mogul Kirstie Kirkham (VIC Toorak | 6 bed | 5 bath | 6 car) — See our LinkedIn post

  • $29m renovated mansion sells in Bellevue Hill (NSW Bellevue Hill | 6 bed | 5 bath | 7 car)

  • $23m beachfront block in Watsons Bay is sold (NSW Watsons Bay | 5 bed | 3 bath | 5 car)

  • $21m Toorak home once owned by the ANZ boss Mike Smith is sold (VIC Toorak | 6 bed | 4 bath | 3 car) — See our LinkedIn post

  • $18m Darling Point apartment is seeking expressions of interest (NSW Darling Point | 4 bed | 4 bath | 2 car)

  • $17m Bellevue Hill family home to go to public auction in late June (NSW Bellevue Hill | 6 bed | 4 bath | 3 car)

  • $17m charming Toorak property is listed for sale (VIC Toorak | 5 bed | 6 bath | 2 car)

  • $16m Toorak house is seeking expressions of interest (VIC Toorak | 5 bed | 3 bath | 6 car)

  • $13.5m waterfront Mosman apartment with private dock is sold (NSW Mosman | 4 bed | 4 bath | 3 car)

  • $12m Toorak house owned by the CEO of Accent Group is sold (VIC Toorak | 5 bed | 6 bath | 5 car) — See our LinkedIn post

  • $12m home sets a record for the suburb of Chandler (QLD Chandler | 6 bed | 6 bath | 8 car)

  • $11m Vaucluse property with a Sydney Harbour Bridge view is listed for sale (NSW Vaucluse | 4 bed | 4 bath | 2 car)