Former ANZ chief John McFarlane takes Mermaid Beach millionaires' row minor loss

Former ANZ chief John McFarlane takes Mermaid Beach millionaires' row minor loss
Jonathan ChancellorJune 18, 2015

The former longtime ANZ chief John McFarlane has secured $4 million for his Mermaid Beach duplex apartment.

McFarlane spent $4.2 million on the Hedges Avenue, Mermaid Beach purchase in 2009.

The Ray White marketing said the vendor had relocated to London. The former long-serving ANZ chief executive, now chairman of Aviva which ranks as one of the world's largest insurers, quit Australiain 2012. The Scottish born, but a naturalised Australian, had lived in Melbourne since 1997. His Walsh Sreet townhouse fetched $4.8 million in 2012.

There had been $5 million Mermaid Beach hopes on its early 2015 listing, then $4.3 million after its unsuccessful March auction. It sold through Ray White Prestige Surfers Paradise agents Nick Baxter and Robert Graham. 

In 2009 McFarlane upgraded to the beachfront after he secured $1,675,000 for his 19th-floor Aria penthouse at Broadbeach through the then Ray White Broadbeach agent, Michael Kollosche having paid $1.3 million for the three-bedroom, 285-square-metre unit in 2002. 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Editor's Picks

GURNER commences demolition on $2.75 billion Jam Factory redevelopment in South Yarra
Mosaic secure $210m in pre-sales at The Bedford by Mosaic in Kangaroo Point
First look: GRAYA files plans for Ivory New Farm apartments
The Sydney suburbs first home buyers are looking to buy off the plan apartments
Melbourne’s most popular suburbs for downsizing and rightsizing in 2024