Actor Russell Crowe sells Kingsford apartment block

Actor Russell Crowe sells Kingsford apartment block
Actor Russell Crowe sells Kingsford apartment block

Actor Russell Crowe has been busy over summer tidying up his property empire, as he works towards a belated matrimonial property settlement.

He has quietly sold his Kingsford apartment block, an investment he picked up 15 years ago.

It was the three storey, four unit Wallace Street block that he was allowing his former 30 Odd Foot of Grunts band mates to live in rent free.

Crowe secured $3.2 million in an off-market deal for the Wallace Street building that cost him $1,454,000 in 2001, four years before the band unofficially dissolved.

It has been bought by a company associated with Hunters Hill based, PWC Australia partner Jason Habak and wife Linda.

In November the Sydney Confidential gleaned that Crowe was finally proposing to turf out his former band mates who had been living in the 1912 apartment block prey much rent free for the last 15 years.

The Gladiator star is understood to have told the musicians four years ago that it would be used 'as part of a divorce settlement', with his now ex-wife Danielle Spencer.

One of the two bedroom apartments in the block has just been listed for rent at $725 a week, marketed as 'freshly renovated'.

Crowe and friend Billy Dean Cochran formed Roman Antix in the 1980s, which later became the more well known Australian rock band 30 Odd Foot of Grunts (also known as TOFOG).

In 1992 the band was formed and Crowe was the frontman, performing lead vocals and guitar. They played shows in London, LA and Texas in 2000.

There are whispers that the next property to go is Crowe's Riley Street commercial building in Darlinghurst.

Currently operating as 98 Riley Street Gym, the 667 sqm parcel cost Crowe $3,875,000 in 2004. The interior designer Blainey North has undertaken its fitout.

The Oscar award-winning actor has also listed his Woolloomooloo Wharf penthouse listing on which he had elevated price expectations - possibly even $30 million.

The luxury car dealer Neville Crichton, who sold his Point Piper home for $62 million in last year's biggest sale in Australia, was keen to buy the trophy apartment.

But Crichton, who wanted to downsize to spend more time in his homeland New Zealand, had hoped to pick it up for $25 million.

He has instead turned his buying intention to the $33 million Zamel home on the Point Piper harbourfront which Bill Malouf at LJ Hooker Double Bay had on his books. It had been for sale since 2014.

Western Australian mining magnate Andrew 'Twiggy' Forest also had a look around the Finger Wharf apartment which set a record in 2003 when Crowe and Danielle paid $14.35 million.

No other apartment comes close in size with some 1000 sqm at the tip of the Finger Wharf.

The offering includes a 35 metre marina berth and seven car spaces.

Crowe was only the second owner of the property, having bought the home from Nutrimetics founder Imelda Roche and her husband, property developer Bill Roche, who paid $9.8 million off the plan in 1998.

The recent relationship Danielle has with her beau Ad Long has triggered the decision to sell much of their property portfolio.

In 2011 Crowe and Spencer spent $10 million on the Rose Bay trophy home, Te Puke after a four-year search, which remains in both of their names.

It has been Spencer's home since their separation.

Crowe retains his 320-hectare property in Nana Glen, near Coffs Harbour.  

This article first appeared in the Daily Telegraph.

Tags: 
Property Settlement Russell Crowe

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