BWM Group founding partner and adman Rob Belgiovane has sold his Parriwi Road, Mosman home for a bullish price off-market.
The $8 million buyers have emerged as thoroughbred horse owner Paul Fleming, the son of the late grocery tycoon Jim Fleming, and wife Allison.
The deal was done by a truly local agent, Robert Klaric at The Property Expert International who lives just down the street.
Belgiovane, who founded BWM in 1996 with Paul Williams and Jamie Mackay, had paid $6.5 million three years ago when buying from the former Bank of Queensland chief Stuart Grimshaw.
The four-level Chinamans Beach home, with a private beach, was designed by architect Guy De Compiegne.
It has five bedrooms and four bathrooms.
It’s a return to the neighbourhood for the Flemings who previously owned on the dress circle Shellbank Avenue before selling in late 2017 for $11.05 million.
Parriwi Road prices have reached $10.1 million, with only a couple of sales per year. An $8.55 million sale was recently secured by the Barros family.
Belgiovane has lived in Mosman before. He sold his renovated Balmoral slopes home for $5,575,000, well over double his $2.46 million purchase price in 2011.
This article was first published in the Saturday Daily Telegraph.