Swisse sale proceeds poured into Sorrento purchase
Jonathan ChancellorDecember 7, 2020
The former Swisse Vitamins owner Stephen Ring has bought in Sorrento following the $1.67 billion sale of the company.
He paid $7.58 million for the cottage, Iluka which hadn't been traded since the 1920's.
Set on a large 1800 sqm parcel, the absolute beachfront home included a jetty and a boat shed with direct frontage to Sullivans Bay.
The sale was secured by RT Edgar Portsea agents Warwick Anderson and Ilze Moran who had the property on the market since late 2014.
It was built for the Boyd family, pastoralists from the Western District.
The Swisse Vitamin tablets date back to Stephen's dad Kevin's St Kilda naturopathics shop in the early 1970s.
This article was first published in The Weekend Australian.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.