Fund manager Robert Luciano pinpointed as mystery Palm Beach trophy home buyer

Fund manager Robert Luciano pinpointed as mystery Palm Beach trophy home buyer
Fund manager Robert Luciano pinpointed as mystery Palm Beach trophy home buyer

It's been a busy time at the top end of Palmie.

VGI Partners' Robert Luciano has been pinpointed as the mystery buyer of a newly built holiday home in Sydney's Palm Beach.

It was the Ocean Road townhouse style project of Hardie Grant chairman John Gerahty and wife Patricia.

It was listed with high hopes despite not having the land size of its near record setters.

The Manly Daily initially speculated the sale price was "around $20 million". The Australian Financial Review suggests $18 million although there is yet to be any available official documentation. Domain advised it was $19 million, having previously advised while an official guide was not released, buyers were expect to pay close to $22 million.

Luciano already has a weekender on Florida Road which he purchased for $3.3 million.

It has reportedly now been listed for sale with LJ Hooker and Christie's. Luciano, formerly of Caledonia Investments, started VGI Partners in 2008.

With a handy six car spaces, the Gerahty's home sits on 965 square metres which was part of the Deaton family's Tropique property before it was subdivided and sold off.

Christie's International agent Ken Jacobs calls it the pinnacle of Palm Beach.

Meanwhile hedge fund manager Paul Henry and his wife Belinda have sold the couple’s weekender through LJ Hooker Palm Beach where they were asking $15.5 million to $16 million.

It is the hillside 1600-square-metre property, overlooking both the Ocean and Pittwater, that was designed by Marchese Partners for the late property developer Ian Hayson.
Its been for sale for the past two-years. Henry, the co-founder and partner at Bennelong Asset Management, bought it in 2010 for $14 million.

The suburb's top price officially was when Gretel Packer secured the family bungalow, on its well-shaded 4000 square metre beachfront reserve holding, in a transfer with a notional $24 million value.

It was 1981 when her father, the late media tycoon Kerry Packer broke through the beachside suburb's million-dollar threshold with his $1 million purchase of the Ocean Road holding from the MacCormick family, who had paid 12,000 pounds in 1952.

The $24 million figure ranks as Palm Beach's priciest as the prior high was the $22 million paid nearby by car dealer Laurie Sutton in 2012 for the trophy home, Kalua.

Tags: 
Trophy Sale Palm Beach

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