Simone Zimmermann's glamorous $5.5 million North Bondi home upgrade

It’s good to see at least one Australian fashion label enjoying globalisation. As the Zimmermann fashion empire takes to the US market with gusto, thanks to investment input from growth equity firm General Atlantic, co-founder Simone Zimmermann has been left cashed up to upgrade to a $5.5 million house in North Bondi.   

The three-level house was previously owned by another fashion industry identity Elli Bobrovizki​, former owner of Hound Dog clothing, before he then sold it to businessman Peter Vorilas in 2003 for $2.4 million.

Vorilas listed it late last year with a guide of $5.5 million with Ric Serrao and Max Spartalis, of Raine &Horne Double Bay, and it sold earlier this year.

Zimmermann is widely considered the brains behind the international fashion empire that she started with her designer sister Nicky in 1991 from a stall at the Paddington markets. Since then the Zimmermann brand has become one of Australia’s fashion industry success stories, and in recent years has turned its attention to capturing a larger share of the global market. As well as a flagship store in New York it has four other stores in the US, and there are plans to open another three stores later this year in New York’s Meatpacking district, Miami and London.

Zimmermann and her husband Michael Redmond are rumoured to have already sold their North Bondi home on nearby Elliott Street, although it will be left to settlement to reveal how much the couple made on their 2010 purchase price of $2,475,000. And a Palm Beach mole says Simone and Redmond have also bought a weekender in the glamorous holiday spot, but agents up the peninsula denied any knowledge of such a deal.

The Ben Buckler headland where Zimmermann has bought has also seen a bullish sale of $9 million for a duplex on prime oceanfront reserve.

Hastings Property buyer’s agency posted news of the deal by Peter Jinks recently, and dobbed in Raine & Horne’s Ric Serrao and Max Spartalis as the selling agents on that deal.

Confidentiality agreements have stifled details from getting out for now, but sources say the buyer plans to build their forever home on the site in three to five years time.