Premier Investments chief Mark McInnes sells North Bondi penthouse for $11.5 million

The penthouse (outlined) which sold for $11.5 million is comprised of three amalgamated apartments.

Aged care entrepreneur Mark Moran and his wife, Yvette, are paying $11.5 million for a penthouse in North Bondi, about seven kilometres east of the Sydney CBD.

The dwelling – three apartments amalgamated by the vendor, Premier Investments chief executive Mark McInnes – was listed earlier this year with refurbishment plans penned by Paddington-based architect Tobias Partners (artist’s impression of a renovated living area, top).

Providing 344 square metres of internal area across two levels, the property at 97 Ramsgate Avenue (pictured, left) offers “uninterrupted views of the surf, beach and ocean”, according to Raine & Horne online advertisement.

Brokers Ric Serrao and Udo Edlinger described the offering as a “once in a lifetime” opportunity.

The building offers direct access to private steps leading to the waterfront.

The deal – reported in this item by – was sealed just over a year since Mr McInnes and his wife, Lisa Kelly, outlaid a speculated $12 million for a mansion in Melbourne’s Toorak with a pool, tennis court and 10-car garage.

Mark McInnes and his wife, Lisa Kelly, paid $12 million for this Toorak mansion last year.

Mr McInnes, the former chief executive of David Jones, moved from Sydney to his hometown of Melbourne about seven years ago to head Premier Investments, a retail business owner managed by Solomon Lew.

In August we reported that the Lew family sold a home on Melbourne’s Mornington Peninsula, which was at the centre of a planning scandal in 2011, for $5.25 million.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of