Hedge fund manager spends c$15m in Armadale

Also today we are reporting Five:Am founder David Prior has listed a c$46-$50 million Toorak home.

Prestige car dealer Bobby Zagame has sold his fully renovated Armadale mansion for a speculated $15 million.

The buyer of Ashworth in tree lined Avalon Road, according to documents, is hedge fund manager Mark Landau, joint managing director and chief executive officer of L1 Capital.

Ashworth is speculated to have sold for about $15 million.

The c1907 home contains five bedrooms and six bathrooms.

Mr Zagame paid $7.5 in 2010 before renovating and, in 2020, extending.

Ashworth was listed in July carrying $15.5-$16.5m price hopes; Kay & Burton’s Rae Mano and Jamie Mi were the agents.

The deal comes 18 months years since Rupert Murdoch’s nephew, Michael Kantor, sold MaxCap co-founder Wayne Lasky and his wife, Tamara, the Namarong mansion on 3400 square metres in nearby Hampden Rd, for $26.51m (story continues below).

Ashworth contains an indoor half-basketball court.


On 1187 square metres, Ashworth also includes an indoor half-basketball court.

The sale comes two years since Toni Zagame, married to the late Victor, sold a waterfront Brighton mansion to Gribbles co-founder Wallace Cameron for $25m (that executive recently onsold it for a loss – c$23.5m according to sources).

Victor formed the family’s hospitality arm which Bobby is not a part of.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.