Retailer Mark McInnes secures $12 million North Bondi penthouse sale
The snappy $12 million sale of the North Bondi penthouse of the Melbourne-based retail chief Mark McInnes has defied sceptics who thinks Sydney's property boom was over.
The oceanfront offering, which sold Friday night before its first Saturday open for inspection, is an unfinished amalgamation of three top-floor apartments.
"They are a local family," Raine & Horne's Ric Serrao advised.
The mystery record setting Ben Buckler headland buyer is intent on implementing the plans of society architect Nick Tobias.
The architectural plans will see the three adjacent apartments knocked through to create a three bedroom apartment spanning 345 sqm.
It will feature a gourmet kitchen, three bathrooms and an ocean fronting entertainers terrace with uninterrupted views over the beach and ocean.
Tobias was the architect who designed the nearby home of Michael Darling, the scion of the establishment pastoral and mining family, on the rock shelf known as Mermaid Rocks
Raine & Horne Double Bay agent Ric Serrao had set an October 6 auction.
The unconfirmed price would easily top the $10.35 million oceanfront house sale by the philanthropist and eco start-up investor Tanya Carnegie.
It comes just weeks after bullish $29 million sale by James Packer on Campbell Parade.
The former David Jones boss has now cuts ties with Sydney, having owned the three oceanfront Ramsgate Avenue apartments for over a decade.
McInnes secured approval for a two level, trophy penthouse, but never got around to undertaking the project.
McInnes bought the first of the three apartments in 2007, spending $1.6 million.
He continued buying up taking his total outlay to $7.1 million.
McInnes, who has been based in Melbourne since 2010 heading Solomon Lew's Premier Investments, and wife Lisa Kelly upgraded in Toorak last year spending $12 million.
It is the last of McInnes's property in NSW as last year he offloaded his Coalcliff weekender on the Illawarra beachfront for $3.35 million.
This article was first published in the Sunday Telegraph.