Australia’s richest ‘garbo’ Ian Malouf has off-loaded an amazing beach front property on Sydney’s northern beaches for a whopping $25million.
Located in ritzy Palm Beach, 43kms from the CBD, the resort style pad features seven bedrooms, four bathrooms and amazing water views.
Malouf, who sold his waste management service Dial-a-Dump in 2018 for $577million, bought the sprawling residence in 2021 for a reported $20million.
According to The Daily Telegraph, the home is under contract but the sale is yet to be settled.
Malouf listed the property, which is called Moondoggie, last year as well as his neighbouring home, Gidget, which is yet to find a buyer.
Australia’s richest ‘garbo’ Ian Malouf has off-loaded an amazing beach front property on Sydney ‘s northern beaches for $25million
Malouf (pictured) who sold his waste management service Dial-a-Dump in 2018 for $578million, bought the sprawling residence in 2021 for a reported $20million
Malouf, 58, told the publication that he is selling off both homes because he has ‘two many toys’ on the one street.
Situated in one of Palm Beach’s most exclusive streets in an area known as Snapperman’s Beach Reserve, Moondoggie is built right on Pittwater.
Highlights include an entertainment deck built only metres from the shore line.
Malouf listed the property, which is called Moondoggie last year as well as his neighbouring home, Gidget, which is yet to find a buyer. Pictured: One of seven bedrooms
The multi-storey design features a creative open plan layout, double-height ceilings and glass walls which make the most of the stunning views.
There’s also a gorgeous over-sized kitchen, a beautiful fireplace and lounge and a bar.
Malouf, who reportedly has a net worth of more than $1.13billion, founded Dial-a-Dump in 1984.
The multi-storey design features a creative open plan layout, double-height ceilings and glass walls which make the most of the stunning views
He built the waster management business into an empire worth $577million, which is when he sold out to Bingo Industries.
The high-flying former ‘garbo’ entrepreneur also owns another north shore pad as well as a sprawling ‘compound’ in Double Bay.
Recent reports indicate that Malouf is set to build a residential high rise at Broadbeach on the Gold Coast.
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Read more at DailyMail.co.uk