Billionaire fund manager Will Vicars has collected a profit of more than $4m in less than three years after selling a spectacular Tamarama residence to his tenant.
Co-founder of German-based private equity firm Mantaro Brands Markus Binder and his wife, Susannah, paid a whopping $17.7m, $4.3m more than Vicars paid for the Kenneth St residence during the slump of 2020.
And Vicars had made no improvements in that time, merely collecting $6,750 a week since the Binders moved in last last year.
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Locals advise the couple loved the Madeleine Blanchfield designed four-bedroom, five-bathroom residence with three-car garage on its narrow 247sqm block so much that they made an offer that Vicars couldn’t refuse.
And it was the previous owners, Matthew Cooper, the former director of real estate investment trust Rubicon Group, who did the yard yards, commissioning Blanchfield to create the incredible home.
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The property, which Cooper had called “Headland House” because of its views over Marks Park to the ocean, had featured as a Wentworth Courier House of the Week when listed with Brad Pillinger of Pillinger in 2020.
I’d had the privledge of visiting the home and at the time wrote: “I think I’ve found Heaven. It’s a wild and woolly winter’s day outside, but I’m here on the sofa in front a blazing fire (well, an Escea gas fireplace), just taking in the amazing view.”
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It seems the Binders shared my enthusiasm for the home.
Local Tamarama agent Simon Exleton of McGrath says: “The result will reflect good value in the long run — Kenneth Street continues to break records.”
He says two similar “off-market” homes available.
Originally published as Billionaire Will Vicars sells Tamarama home bought for $13.4m in 2020 for $17.7m
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