Gotta know when to hold 'em, when to fold 'em. And a bear always follows a bull…
In a secret off-market deal, the two-time runner-up to the world surfing title and, for a time, the tour’s perennial number four, Taj Burrow, has sold his beachfront villa in Mackenzies Bay, Sydney, for $3.94 million, a lil more than the $2.3 he paid in 2014.
It ain’t a bad play.
House prices in Sydney have gone beyond anything experienced historically, almost doubling in TB’s case in less than a decade.
And, a bear always follows a bull.
The joint is a top-floor three-bedroom duplex circa 1950s that overlooks the area’s best wave, an imperfect left off the northern headland at low-tide and a squishy little rip bowl right near the shore at high tide.
Taj knows real estate.
He’s been buying hunks his whole career. He knows it as a wonderful store of value. His Mackenzies Bay three-bedder, with garage, last traded at $493,000 in 1988 and $185,000 in 1986. The investment banker owner, David Sutherland, had tried to offload it in 2010 for two-and-a-half mill but didn’t get any bites.
Taj scooped it up four years later for 200 gees less. Smart buy? Of course.
He then rented it at $1500 per week.
Taj’s latest buy is the eleven acres of bucolic loveliness fifteen minutes from Yallingup’s white-sand beaches and unforgiving reefs. he swooped on in his home town, Yallingup, an area still undervalued in comparison to the rest of the country, I think.
The property, bought in November for a million dollars, was marketed as the “perfect blank canvas for your new dream home.”
Burrow’s principal residence, of course, is the award-winning “nautilus shell” house in Wardanup Crescent, Yalls, aka “millionaire’s row” by architect Dane Richardson. The property was bought for two-milll in 2004 and the new place was built in 2011, winning the overall Design Excellence Award at the 2012 Building Designers Australia WA.
Neighbours still recall, fondly, the demolition of the old place.
“He had a pretty nice place before, but he knocked that one down. He had a demolition party and everyone came around with sledgehammers and knocked the walls down,” neighbour Candice McKiernan said.