Splendour in the Grass co-founder buys in Paddington

Splendour in the Grass co-founder Jessica Ducrou and her surfboard shaping partner Dain Thomas have bought in Paddington.

They've paid $3.65 million for a renovated Glenmore Road terrace.

More than doubled in price since its last $1.75 million trade in 2013, the three level home is a mix of contemporary and classic.

It has four bedrooms and two bathrooms.

The top floor is dedicated to the master retreat and the lower-level living and dining space is flanked by a courtyard at both ends.

Di Jones Eastern Suburbs agents Jane Schumann and Gary Sands sold the home.

The couple have been Byron Bay based at their historic 109 year old farmhouse Killarney.

The two level Queenslander had five bedrooms and an entertaining deck that overlooked the saltwater pool and large cabana. 

Ducroe is the managing director of Secret Sound Group, a company that she runs with music industry veteran Paul Piticco.

The two first combined over 20 years ago, working with Australian rock band Powderfinger.

Piticco was the bands manager and Ducrou was the booking agent.

The two were described by Billboard as two of the Australian music industry's top power players.

In 2001 the two combined to launch Splendour in the Grass in Byron Bay, with Powderfinger headlining the inaugural show.

The following year the two founded Secret Sounds, a full-service tour promotor which is now valued at around $60 million.

Ducroe had founded Homebake Festival in 1996.