Australia’s richest man, Ian Malouf, has offloaded an incredible beachfront property on Sydney’s northern beaches for a whopping $25 million.
Located in luxurious Palm Beach, 43km from the CBD, the resort-style complex features seven bedrooms, four bathrooms and incredible water views.
Malouf, who sold his Dial-a-Dump waste management service for $577 million in 2018, purchased the sprawling residence in 2021 for $20 million.
The house is under contract and the sale has not yet closed, reports The Daily Telegraph.
Malouf put the property, called ‘Moondoggie’, up for sale last year around the same time he put the neighboring house, ‘Gidget’, up for sale, which has yet to find a buyer.
Australia’s richest man, Ian Malouf, has offloaded an incredible 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 $20 million.
Malouf, 58, told the publication that he was selling both houses because he has “two toys” on one street.
Located on one of the most exclusive streets in Palm Beach, in an area known as Snapperman Beach Reserve, Moondoggie is built right on Pittwater.
Highlights include an entertainment platform just meters from the shore.
Malouf put the property, called ‘Moondoggie’, up for sale last year around the same time he put the neighboring house, ‘Gidget’, up for sale, 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 stunning views.
There is a beautiful oversized kitchen, a beautiful fireplace, a lounge and a bar.
Malouf, who has a net worth of more than $1.13 billion, founded Dial-a-Dump in 1984.
The multi-story design features a creative open-plan layout, double-height ceilings and walls of glass that make the most of the stunning views.
He built the waste management business into an empire worth $577 million, at which time it was sold to Bingo Industries.
The former high-flying businessman ‘panache’ also owns another pad on the north coast, as well as a sprawling ‘complex’ in Double Bay.
Recent reports indicate that Malouf is set to build a residential skyscraper in Broadbeach on the Gold Coast.