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McGrath chief executive Geoff Lucas sells in Cremorne after buying half a Palladian villa in Bellevue Hill

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McGrath chief executive Geoff Lucas has sold in Cremorne after he recently bought in Bellevue Hill where he secured half a Palladian villa.

It has been bought by a young family relocating from the CBD.

Lucas had previously listed his Wonga Road property (above and below) in early 2018 when it failed to sell.

It had been listed with $6 million to $6.6 million hopes in February 2018.

This time the auction guide was around $6 million.

No price reveal has been offered by the estate agency which ignores industry calls for better price disclosure of results to assist the market well appraised of prices in the lead up to the busy spring sales season. 

Lucas had paid $3,425,000 for the home in 2005, snapping it up pre-auction after just 12 days.

He owns 1/100th and wife, Nicola the 99/100ths.

The Victoria Road, Bellevue Hill duplex (below) was bought after being passed in at June auction at $5.825 million.

The four-bedroom, three-bathroom Mediterranean-style mansion (above and below) was built in 1992 on its 725 sqm block with views over Royal Sydney Golf Course to the harbour and the ocean. 

The Briggs family had bought it for $3.525 million in 2002.

The property comes with pool and tennis court, which is shared with the neighbour.

It was listed for Sothebys auction in April last year with overly ambitious $7 million to $7.5 million price guidance.

Lucas returned to McGrath, the ASX listed company in February last year as its chief executive.

Its shares were trading at record 19.5 cent lows mid-week, but fining its Friday close at 20 cents.

 


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