Shark Tank's Andrew Banks makes another property splash

Shark Tank's Andrew Banks makes another property splash
Shark Tank's Andrew Banks makes another property splash

Shark Tank judge Andrew Banks and wife Andrea have increased their foothold in the Sydney property market.

They've spent $6,065,000 on the Double Bay home of recruitment king Joel Barbuto, who restored the 1890s Victorian Italianate manor during his short ownership.

It's been promptly leased at $3,500 a week, reflecting a three percent yield.

Barbuto, the managing director of Gough Recruitment, paid $4,425,000 for the Cross Street landmark in 2016 when offered for the first time in 50 years.

Shark Tank's Andrew Banks makes another property splash
The restored living area.

Set on 335 sqm, the two-storey home has three bedrooms, two with balconies, three bathrooms and a landscaped north facing garden. 

The home has been bought under a company name, with the directors including Stephen and Patricia Stevens, who recently spent $6.2 million on the Double Bay home of socialite interior designer Nellie Tilley.

Shark Tank's Andrew Banks makes another property splash
The master bedroom.

Andrew and Andrea are now based at Point Piper having spent $21 million on a non-harbourfront home, having sold in Beverly Hills for US$15,995,000.

Earlier this year they were approved for a renovation for the Point Piper property.

It was a return to Point Piper for the couple, who previously called Villa Veneto, the Point Piper waterfront, home for before selling for a reported $52 million in 2010.

Their latest purchase isn't as grand, but is the third most expensive house sale in Double Bay this year.

 

 

 

 

 

 

Tags: 
Double Bay Shark Tank

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