Swisse sale proceeds poured into Sorrento purchase

Swisse sale proceeds poured into Sorrento purchase
Swisse sale proceeds poured into Sorrento purchase

The former Swisse Vitamins owner Stephen Ring has bought in Sorrento following the $1.67 billion sale of the company.

He paid $7.58 million for the cottage, Iluka which hadn't been traded since the 1920's.

Set on a large 1800 sqm parcel, the absolute beachfront home included a jetty and a boat shed with direct frontage to Sullivans Bay.

The sale was secured by RT Edgar Portsea agents Warwick Anderson and Ilze Moran who had the property on the market since late 2014.

It was built for the Boyd family, pastoralists from the Western District.

The Swisse Vitamin tablets date back to Stephen's dad Kevin's St Kilda naturopathics shop in the early 1970s. 

This article was first published in The Weekend Australian.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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