Billionaire buys Byron Bay home off millionaire

The Byron Bay property sold for c$10 million.

A Melbourne millionaire and billionaire have traded a Byron Bay home.

Skilled Group former boss, art collector, Greg Hargreave, offered the Marine Parade property several times over the past seven years.

Following the latest campaign it found a buyer – Stephen Ring, who in late 2015 pocketed a speculated $1 billion selling the Swisse Wellness business his father founded decades earlier.

The purchase price is believed to be nearly $10 million; Byron Bay Property Sales’ Vicky Innes and Jeremy Bennett were the agents.

Mr Hargreave paid Albury orthopaedic surgeon David Kirwan $7.55m in 2009 (story continues below).

The dwelling occupies an 800 square metre block opposite Wategos Beach .

In April, 2017, Mr Ring outmuscled both celebrity chef Guy Grossi and developer Joseph Chahin for a Melbourne CBD building at 23-29 Bourke Street – for decades prior, home to Society restaurant.

A year earlier it was reported the executive spent c$7.6m on a waterfront Sorrento home, on Victoria’s Mornington Peninsula.

The executive controlled about 60 per cent of the Swisse Wellness business which sold to Hong Kong based Biostime for $1.67b.

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Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of realestatesource.com.au