Australia’s richest ‘garbo’ Ian Malouf sells incredible Palm Beach mansion for an eye-watering $25million
Australia’s richest garbo, Ian Malouf, has sold a stunning beachfront property on Sydney’s northern beaches for a whopping $25 million.
Located in chic Palm Beach, 43km from the CBD, the resort-style pad features seven bedrooms, four bathrooms and fantastic water views.
Malouf, who sold his waste management service Dial-a-Dump for $577 million in 2018, bought the sprawling property in 2021 for a reported $20 million.
The house is under contract and the sale has yet to be completed, reports The Daily Telegraph.
Malouf put the property, called ‘Moondoggie’, on the market last year, at about the same time as the neighboring house, ‘Gidget’, which has yet to find a buyer.
Australia’s richest garbo, Ian Malouf, has sold a stunning beachfront property on Sydney’s northern beaches for a whopping $25 million
Malouf (pictured), who sold his waste management service Dial-a-Dump for $578 million in 2018, bought the sprawling residence in 2021 for a reported $20 million
Malouf, 58, told the publication that he sold both houses because he had “two lots of toys” on one street.
Moondoggie is located on one of Palm Beach’s most exclusive streets, in an area known as Snapperman Beach Reserve, right on Pittwater.
Highlights include an entertainment deck just meters from the shoreline.
Malouf put the property, called ‘Moondoggie’, on the market last year, at about the same time as the neighboring house, ‘Gidget’, which has yet to find a buyer. (Pictured: one of the seven bedrooms)
The multi-storey design features a creative open-plan layout, double-height ceilings and glass walls, making the most of the breathtaking views.
There is a beautiful extra large kitchen, a beautiful fireplace and lounge and a bar.
Malouf, who has a net worth of more than $1.13 billion, founded Dial-a-Dump in 1984.
The multi-storey design features a creative open-plan layout, double-height ceilings and glass walls that take full advantage of the breathtaking views
He built the waste management company into a $577 million empire before selling it to Bingo Industries.
The high-flying former ‘garbo’ entrepreneur also owns another coastal property on the north coast, as well as a sprawling ‘compound’ in Double Bay.
Recent reports indicate that Malouf is set to build a residential tower in Broadbeach on the Gold Coast.