Catch Group co-founder Hezi Leibovich and wife Lina buy Brighton manse for $19.75m

One of the brothers behind the e-commerce website Catch has bought a long-held Brighton manse for a near-record price in a secret off-market deal.

Late last year, months after Catch Group co-founder Hezi Leibovich and his brother, Gabby, sold their successful website to retail giant Wesfarmers for $230 million, Hezi and his wife, Lina, bought the  grand property in Glyndon Avenue, one of Brighton’s “best streets”, according to agents. 

The $19.75 million sale was officially settled this week, paperwork from the land titles office showed.

While the sale of the property, which includes more than 2600 square metres of land, was one of the biggest of last year, it did not break a price record for Brighton. 

That record is still held by 39 Seacombe Grove, Brighton which changed hands for a reported $22 million in 2015 to 7-Eleven co-founder Beverley Barlow, who died in 2017.

Sales records show the property had been owned by the vendor since 1975, when it was snapped up for $225,000.

Prestige agents at Marshall White brokered the deal, with agent Ben Vieth confirming the sale but refusing to comment further.

The sale follows the $230 million windfall Mr Leibovich shared in after the recent sale of Catch Group to retail conglomerate Wesfamers.

Wesfarmers, which owns Target and Kmart, bought Catch Group’s Catch.com.au and Brands Exclusive among others, to boost the online sales and marketing capabilities and grow data.

The Leiboviches started the company with Catchofttheday.com.au in 2006, growing it to become an online marketing and sales behemoth.

Both owned 90 per cent of the company when it sold in August last year.

It was fortuitous timing for the sale for the vendors with Melbourne’s property market starting to recover after 18 months of downturn, which saw almost $100,000 stripped from the house price median.

Domain economist Trent Wiltshire said Melbourne’s more expensive regions, including the bayside area, have rebounded rapidly since early 2019. 

“The median house price in the inner bayside region has increased 14 per cent since the March quarter last year,” Mr Wiltshire said. “The inner east is up 12 per cent.”

“Typically Melbourne’s more expensive regions lead the market, and this is happening in this recovery.”