John Symond withdraws Double Bay investment from sale

The founder of mortgage provider Aussie, John Symond, has withdrawn a Double Bay investment property from sale after four months.

The London-based businessman was firm on a $7.25 million price, according to this realestate.com.au item.

The best offer he got was in the high $6 million range, marketing agent Brad Caldwell-Eyles, of 1st City Double Bay, said.

Mr Symond paid $4.8 million for the asset in 2014.

John Symond was seeking $7.25 million for the mixed-use investment.

Designed by Alexander Tzannes, the complex at 18 Transvaal Avenue is configured with a penthouse apartment and ground floor showroom.

Fashion outlet Trent Nathan once occupied the showroom as did Robyn Cosgrove Rugs and Country Trader.

It is currently tenanted to Conley + Co, an interior design and architectural studio run by Maree Conley.

It is not the first time Mr Symond has withdrawn a property from the market.

The only image on John Symond’s Wikipedia page is of his landmark Point Piper mansion, which was temporarily for sale in 2017 seeking offers of more than $100 million.

In 2017, following his move to Europe, the businessman listed his waterfront Point Piper mansion, but withdrew it despite reportedly receiving offers of more than $100 million.

Mr Symond said he rushed into the decision to list the Point Piper home.

He did, however, sell two apartments in Sydney’s Elizabeth Bay a year ago. A Double Bay penthouse also traded, a year earlier, for $13.5 million.

Australia’s most expensive residential home deal occurred in 2018 when Atlassian co-founder Mike Cannon-Brooks paid close to $100 million for Fairwater in Point Piper.

Coincidentally, Mr Cannon-Brookes’ business partner, Scott Farquhar, set the national watermark in 2017, paying $71 million for the neighbouring estate, Elaine.

Both Fairwater and Elaine were offloaded by the Fairfax family after being held for generations.

The Double Bay property was once occupied by Robyn Cosgrove Rugs then Trent Nathan.

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Marc Pallisco

Marc Pallisco

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

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