Swimwear moguls Craig Ellis and Erin Deering change their minds on $5m Bondi pad

Swimwear moguls Craig Ellis and Erin Deering have had a change of heart and mind about the Bondi Beach pad they took possession of in December, returning it to the market three months later.

The two-bedroom spread in the Pacific Terraces settled in a company name a week before last Christmas for $5 million after Deering and Ellis reportedly topped two other pre-auction offers.

The change of heart coincides with reports the couple separated late last year, with Deering returning to live in Melbourne.

Ellis, a former AFL footballer for the Western Bulldogs, founded online bikini company Triangl in 2012 with Deering after they saw a gap in the market for more affordable swimwear.

Leveraging off the celebrity power of the likes of model and reality star Kendall Jenner and singer Miley Cyrus it became a global success, with 2.7 million Instagram followers and a turnover of more than $US60 million five years later.

Deering, 34, was ranked 77th on last year’s Financial Review Young Rich List with an estimated worth of $32 million.

Peter Starr, of Raine & Horne Double Bay, has set an April 6 auction on the two-bedroom home with expectations it will recoup the $5 million purchase price.

The 176-square metre pad comes with a double garage.

Pacific Terraces is set at the southern end of Bondi Beach on Notts Avenue, with a northerly view up the iconic stretch of sand.

It was built by developer Bill Shipton in the early 1980s with venture capital from the late media mogul Kerry Packer.