This article is from the Australian Property Journal archive
CHRIS Olliver, Zimmermann chief executive and husband of co-founder Nicky Zimmermann has spent $20.5 million on a block of apartments in Tamarama.
The four apartments at 1 Gaerloch Avenue were offered in one line and sit across the road from a beach at Mackenzies Bay with views across Tamarama and Bronte Beaches.
The block includes 38.91m of frontage with the apartments including 10 bedrooms, nine bathrooms and six car spaces, which could be retained as an investment or redeveloped in the future.
Nicky last spent $59.5 million on a Vaucluse waterfront property, in the third biggest house sale of 2022.
Just last month, Nicky’s sister and co-founder of the brand, Simone Zimmerman, spent $30 million on a house in Bondi at 60 Fletcher Street, setting a suburb record.
Tamarama saw a new suburb record set last year, with the sale of Tamarama point landmark Lang Syne, which was listed for $50 million.
Sydney’s high end property market shows little sign of slowing down, with a Point Piper estate listed with expectations of a $100 million record breaking sale price.
While Knight Frank’s latest Wealth Report revealed 43sqm of Sydney real estate would cost you US$1 million in 2023. With Sydney seeing 2.7% growth in luxury residential property prices in the group’s latest Prime International Residential Index.
