Real Estate

the block 2018 tech entrepreneur splashes on both penthouses

Written by The ReReport

Melbourne’s Bianca and Carla netted $301,000 from the sale of their project.

A MYSTERY tech entrepreneur has splashed almost $6 million on both of The Block’s Gatwick Hotel penthouses — which he reckons were “bargains”.
Speaking on condition of anonymity, the well-heeled local investor told the Herald Sun St Kilda was going to improve after the notorious former rooming house’s transformation.
“There are pockets of St Kilda which are amazing and pockets that have been a bit more seedy and this part, Fitzroy St, was one of them,” he said.
“Part of the problem was the Gatwick and now it is totally different, from an investment point of view St Kilda is going to lift.”

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Inside Norm and Jess’ penthouse. Supplied: Channel 9

Buyer’s advocate Greville Pabst bought four of the five apartments on behalf of clients.

WBP Property executive chairman Greville Pabst bid on behalf of the successful secret buyer, securing Norm and Jess’ penthouse for $2.859 million — $209,000 more than reserve.
Melburnian netballers Bianca and Carla netted $301,000 when their penthouse scored $2.991 million.
Industry experts suggest the penthouse properties could fetch up to $2500 per week in rent.
The show’s next project is a seedy backpacker’s hostel, also in St Kilda, which will be transformed into five mansions that are expected to sell for more than $3 million.
Season villains Sara and Hayden won the Gatwick season with a huge $545,000 more than reserve result at a sale price of $3.02 million.

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