
Billionaire chicken heiress's record-breaking Point Piper sale
The wife of the late Ingham chicken billionaire Jack Ingham has sold her luxury penthouse for the highest apartment price ever in Point Piper.
Sue Ingham's extraordinary $29.5m sale of her luxury whole-floor apartment with incredible iconic views at 6/6 Buckhurst Ave obliterates the previous apartment record for Australia's most exclusive suburb.
The talk is that McGrath Double Bay's Luke Hogan and William Manning are responsible for the massive off-market price, though they refused to discuss it when contacted.
They're also rumoured to have been behind Sue Ingham's recent purchase of the four-bedroom penthouse in the luxury Piper project in nearby Wunulla Rd for more than $16m.
The previous Point Piper apartment record was set in February with the circa $22m sale of the Vilon penthouse via Sotheby's principal Michael Pallier and Mary Lin, which settlement records show was bought by property developer Fedor Czeiger and his wife, Elizabeth, who sold for $45m in Bellevue Hill.
MORE:
Collette Dinnigan buys luxury penthouse
Piper, developed by Fortis Property Group in conjunction with Dare Property Group, is nearing completion so Ingham is no doubt looking forward to moving into her new home, which has a private pool, next month.
She's owned her 450sqm Buckhurst Ave apartment, which has four bedrooms, four bathrooms and a four-car garage, since 2010, when it was purchased for $12,245,000.
It's in a boutique waterfront block of just six known as Point Piper House, that has direct access to Seven Shillings Beach and also features a private pool overlooking the incredible harbour view.
MORE: Surprise source of Aussies' home deposits exposed
MORE: Aus pub's $500m collapse, staff owed $7m
The pictures also show a lift opening directly into the top-floor apartment, a gym. magnificent outdoor terraces, and large open-plan living spaces with lavish finishes.
Her late husband, Jack, with his brother Bob, inherited a small chicken business in 1960 and turned it into a hugely successful business enterprise.
Known as 'Big Jack', he and Bob were also co-founder of the largest thoroughbred racing and breeding operation in Australia.
He passed away in 2003.
Jack's daughter Sue Ingham (to an earlier wife) sold her 'private sanctuary' in Darling Point for $14.05m last November via Highland Double Bay Malouf director David Malouf.
MORE: Investor tricks lock out hopeful homebuyers
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

News.com.au
22 minutes ago
- News.com.au
Fridge sale: Australian cold-storage facility sold for $67m
A massive refrigerating unit in Sydney's northwest has sold for a whopping $66.5m, crowning it Australia's priciest fridge sale. The huge refrigerator facility, spanning more than 10,000 sqm, is located at 1-3 Zeleny Rd in Michenbury. First hitting the market in February 2024 with ambitious price hopes over $75m, the unit has finally changed hands amid a boom in the food logistics industry. The cold-storage warehouse was snapped up by investment company Irongate Group for an almost $10m discount off the initial price expectations. The facility has been sold with the key advantage of a long-term tenant already secured. Minus 1 Refrigerated Transport, a market leader in cold storage transportation, will commence the lease once building is completed by design and construction company Spaceframe. The property was sold by The Colliers Industrial and Logistics Capital Markets team of Gavin Bishop and Sean Thomson, who sold the property exclusively on behalf of Barber Property Group. Australia's coldest suburbs exposed The cold storage sector is currently valued at approximately $5.5 billion in Australia, according to Colliers, who claim there is growth potential and limited available stock, accounting for 2-3 per cent of total industrial supply. Mr Bishop noted that as interest rates began to fall and further cuts were expected, more investors were using a 'fund-through' transaction, meaning they were paying for assets during their construction phase. 'We are experiencing heightened demand from both domestic and international investors for core industrial product within Sydney,' he said. Mr Thomson said investor demand for cold storage facilities in Australia continued to grow '(This is) driven by structural tailwinds in food logistics, pharmaceuticals, and e-commerce grocery delivery,' he said. Nationally, the vacancy rate for the broader industrial market currently measures 2.9 per cent, according to Colliers. Cold storage asset vacancies were closer to zero with only a handful of facilities available for lease over the next 12 months. 'As a niche subsector within industrial real estate, cold storage assets offer strong rental growth potential and are often underpinned by long-term leases to high-credit tenants, making them increasingly attractive to institutional capital seeking defensive income and inflation protection,' Mr Thomson said.

News.com.au
22 minutes ago
- News.com.au
ATO's dragnet: Millions of side hustles face shock tax bill
The tax office now sees everything you earn from Airbnb, Uber, OnlyFans and property investments – and their AI system is ready to flag thousands of Aussies side hustlers who don't declare it all. New reporting regimes will see the Australian Taxation Office have its strongest indication yet in 2025 of individual's sources of wealth across a dozen different types of third-parties including online marketplaces, cryptocurrency providers and share economy providers – with AI data-matching expected to flag all discrepancies. The ATO's new system can now see transactions as small as a $50 car space rental, a $100 Airtasker job or a weekend Airbnb rental – and match them to names, birth dates, and tax file numbers. Govt pays $3.3m for unliveable derelict house CPA Australia tax lead Jenny Wong said the gig economy was now reporting incomes directly to the ATO which could see some in for a shock bill this year. She warned anyone who doesn't report money earned through online platforms and pay tax on those amounts risked an amended return, extra tax bill and penalties. 'Until this year, individuals have been required to self-declare the income from their side-hustles. Now nothing will go under the radar. If you deliver food with DoorDash, work some casual jobs through Airtasker, or make content for Patreon, YouTube or OnlyFans, these sites are now reporting your earnings to the tax office.' The data-matching warning applies right down to even renting out a car space for a night, let alone a spare room or your investment unit. 'These rules apply to a broad range of services, not just the most well-known. If you use a website to rent out a carparking space or your designer handbag, this income will be recorded, and you'll need to pay tax.' Culture Kings founders' bold $30m push Property investors will face the highest scrutiny under the new system, with the ATO now cross-referencing not just data from bank accounts, property managers and insurance companies, but also those off rental platforms and sharing economy apps. 'You can claim an immediate deduction for some expenses in the income year you incur them provided your property is rented or genuinely available for rent,' an ATO statement said – though the cost must be paid by you not your tenant or someone else and you must keep adequate records for evidence. Ms Wong reserved the biggest warning influencers and those who have had a strong year of earning activity through sites like YouTube and OnlyFans, and said influencers have an obligation to declare any gifts and gratuities received as a form of payment. 'You must pay tax on income you earn above the tax-free threshold of $18,200,' she said. 'So, if you've had a successful year earning money through advertising revenue and streaming subscriptions, as well as through gifts and gratuities, the ATO will be expecting you to cough up. Yes, this even includes free cars, holidays, clothes and anything else you're lucky enough to receive as a form of payment.' Those amounts due to the tax office could run into the tens of thousands, she warned, 'depending on how much you've earned during the year'. This as ATO warned wild claims and missed income declarations were in its sights this tax return season. Among the areas in the hunt were interest and investment income, employment income, government payments, capital gains tax from the disposal of shares and property, employment-related foreign source income, taxable government grants and payments, payments made to contractors in the building and construction industry, private health fund information and distributions from a favoured source for many investors: partnerships, trusts and managed funds. CPA Australia's tips for gig economy workers: - Declare all income: Ensure that all earnings are reported in your tax return, regardless of the amount or frequency. This includes gifts and gratuities. - Maintain accurate records: Keep detailed records of income and expenses to support your deduction claims. - Understand your obligations: Familiarise yourself with your tax requirements, including ABN registration and GST obligations if applicable. - Seek professional advice: Consider consulting a professional tax agent like a CPA to navigate your tax affairs and ensure compliance.

News.com.au
22 minutes ago
- News.com.au
Newtown home beats reserve by $148K, might still be demolished
Sellers who took the advice to paint and polish their Newtown character home before putting it on the market after 35 years have been rewarded handsomely on auction day. The four-bedroom California bungalow at 27 Mervyn St, Newtown, sold for $1.485m at Saturday's auction as two bidders took control of proceeding off the back of a hot opening offer that knocked out other competition. Barry Plant Geelong agent Kieron Hunter said the competition for the 708sq m property pushed the price $148,000 above the seller's reserve. Two other potential bidders standing in the crowd kept their powder dry after the auction opened at $1.3m, he said. Most of the buyers interest for the property was between $1.25m and $1.3m, he said, so when the auction opened at the top of that range, other bidders kept their hands in their pockets. Mr Hunter said the location was the home's clinching factor, but the seller did the best to present the property to the market. 'You're basically 100 steps away from Pako,' he said. 'It's a Californian bungalow, so obviously a character home. There's the work we suggested and the vendor took on board to get it ready. 'There was about two months worth of just preparation, with sanding the floor, painting, new carpet, that sort of thing, just to make it more presentable. There's no doubt that helps.' After all that work, there's still a chance the new owners could eventually knock the property over. 'The winning bidder is actually looking potentially in the future at just knocking it over,' he said. 'But there's no doubt just being able to move in to that place and do nothing made the buyers so much more confident and comfortable. 'There had been a renovation there 20 years ago, so it was restumped, re-roofed, that sort of thing, so there was really nothing to worry about.' The house offered four bedrooms and two living rooms, with the single bathroom being the only possible drawback, Mr Hunter said. 'You could easily delete a room, join two together and have a good master with a walk-in and ensuite and still have three bedrooms and two living areas.' While presenting a house in its best possible light helped increase the value, going to that level and spending between $20,000 and $30,000 doesn't work for every property, Mr Hunter said. Areas with higher property prices give owners more wriggle room to avoid overcapitalising just before selling, he said. Newtown has a $1.1m median house price, according to PropTrack data for sales over 12 months to June. 'It's probably the seventh of eight home we've done in the past eight months where we have suggested they spend the extra $20,000 to $30,000 on getting it presented and it's paid dividends.