Who’s who of property deals on Palm Beach's front row

On the exclusive stretch of Ocean Road opposite the Palm Beach surf, you’d be lucky if one of the nearly 40 houses came up for sale in a year. But four have traded in recent months with a who’s who of owners moving in.

Multi-millionaire businessman Victor Comino is among the latest to buy onto Palm Beach’s front row, paying $9.8 million for a house that hasn’t traded in 43 years.

Comino joins rich lister Andrew Roberts, fund manager Rob Luciano and billionaire Len Ainsworth’s son Christian reshuffling their surfside real estate.

Records show Comino’s new weekender – a four-bedroom house on 1200 square metres – was long owned by the late company director Maurice Whelan, who bought it in 1975 for $75,000.

Peter Robinson, of LJ Hooker Palm Beach, said there was stiff competition for the property before it sold in less than three weeks but despite him not commenting on the buyer, a caveat revealed Comino’s purchase.

When it comes to his real estate Comino is better known for his CBD property, which includes the former Darrell Lea building, flagship Apple store and historic Washington H Soul Pattinson headquarters he bought in February for about $100 million.

Comino’s purchase comes as the weekender known as that of property and investment tycoon Andrew Roberts sold amid rumours it came close to its $5.6 million guide through LJ Hooker’s David Edwards.

The property is not held in Roberts’ name but is in a company name of which the director is George Kostas, who heads up Roberts’ private investment company RF Capital.

Rob Luciano, founder of investment firm VGI Partners, paid $18 million for the recently built residence of Hardie Grant chairman John Gerahty and his wife Patricia, the highest sale result in Palm Beach this year.

Christian Ainsworth wasn’t one of the Ocean Road success stories. Having bought his house for $3.425 million in 2013, he sold in November for $3.025 million to adman Mike Hale. 

Ocean Road has long claimed the highest sale prices in Palm Beach, with the $22 million high of 2012 set when retired car dealer Laurie Sutton bought Kalua topped on Christmas Eve in 2015 when billionaire Gretel Packer took possession of the family weekender for $24 million.

Among the street’s other notable home owners are Swans chairman Andrew Pridham, developer Bob Rose, heiress Shay Lewis-Thorp, and former Leighton Holdings chief Wal King.