Latest news with #RemaraInvestmentManagement
Daily Mail
06-05-2025
- Business
- Daily Mail
Roxy Jacenko's ill-fated 'giveaway home' that was billed as a $10m waterfront mansion sells for $7.3m
The Cronulla mansion at the centre of Roxy Jacenko 's ill-fated $10 million house giveaway has sold for $7.3 million, one year after the promotion led to legal battles. The four-bedroom, four-bathroom home, which offers ample space with 468 square metres of land and two parking spaces, is billed as a 'contemporary masterpiece'. The luxury property was at the heart of controversy last year when Jacenko, alongside businessmen Youssef Tleis and Kassim Alaouie, launched a promotion offering it as a grand prize for customers of her boot camp course. The giveaway promised a $10 million waterfront home, a Birkin bag and a Rolex watch, with just one lucky participant set to win the grand prize. However the promotion faced immediate backlash when Jacenko abruptly pulled out, citing a 'shortfall' in the prize money pool. This decision led to contested court proceedings and a string of refunds issued to disappointed entrants. But most participants were left out of pocket after a narrow refund window, sparking outrage. The failed giveaway resulted in the winding up of Jacenko's Bootcamp business, with the NSW Supreme Court calling in liquidators. Jacenko has since expressed regret over the venture while also asserting she had not been legally obligated to issue the refunds. Despite the controversy, Jacenko's legal battle with her former business partners continued to unfold throughout the year. In the wake of the giveaway's collapse, the property had initially been listed for sale in 2023 at an estimated $10 million, but failed to find a buyer at that price. Now, after months of negotiations, the property has sold for $7.3m to a company directed by Andrew McVeigh, founder of Remara Investment Management. Co-owners Mr Tleis and Mr Alaouie initially listed the four-bedroom property for auction in 2023, later withdrawing the listing when they failed to find a buyer. After the controversial failed lottery venture, Jacenko was said to have paid out $76,000 in refunds to disgruntled entrants. Jacenko had earlier taken to Instagram to claim she was leaving the joint business after discovering a 'shortfall' in the prize money pool and insisted she would offer customers' refunds out of her own pocket. 'I stand by my offer to refund customers and as a result of this, $684,000 of my own personal funds remain in my solicitor's trust account,' she told Daily Mail Australia at the time. She then issued $76,019 in refunds to entrants of the aborted giveaway, just over 10 per cent of the money she claimed to have set aside for the repayments, The Daily Telegraph reported in June. A total of 7,489 people had paid between $29 and $499 to sign up for the boot camp, but it was estimated that some 90 per cent of participants remained out of pocket after the refunds. Only participants who lodged a refund request within a seven-day window from June 9 until June 15 were eligible to receive a refund. After she came under fire for the brief refund window, Jacenko clapped back at critics on social media, claiming she wasn't even required to offer it. 'I'm now processing refunds from my personal bank account. As you know, I entered into a partnership with two others, which was a dismal f**king failure,' she began. 'If you're an honourable person, you put your hand in your pocket and refund people, which is what I am doing commencing this week. Refunds remain open until today.' 'One thing about the refund window, you don't go to Woolworths and buy Nutri-Grain and then in three months time suggest they should take it back and swap it or give you a full refund,' she added.
Daily Telegraph
05-05-2025
- Business
- Daily Telegraph
Roxy Jacenko's ‘ giveaway home' sold for $7.3m
The luxury Cronulla home caught up in the Roxy Jacenko giveaway controversy last year has been sold for $7.3m. Zephyr, on Dodson Ave, attracted headlines in March last year when it was offered in an ill-fated promotion for Jacenko's Bootcamp course subscriptions. Jacenko's decision to quit the lottery venture resulted in contested court proceedings. MORE: Trump's newest tower boasts 'world's highest pool' The PR mogul had partnered with the property owners Youssef Tleis and Kassim Alaouie on the promotion, offering her Bootcamp customers the chance to win what was billed as a $10m waterfront. The construction duo had paid $3.36m in 2020, then demolished the 1960s home on 500sq m. Tleis and Alaouie had also unsuccessfully sought in late 2023 to secure a $10m buyer for the contemporary four-bedroom waterfront on Port Hacking. MORE: Chilling reason home builds abandoned Zephyr has been quietly bought by a company directed by Andrew McVeigh, the Caringbah South-based founder of Remara Investment Management, and his wife, Rachael. The former Brookfield Asset Management chief financial officer served as a board member of the Cronulla Sutherland District Rugby League Football Club in 2017. Cronulla recently saw prices hit $22.5m with a sale on Taloombi St through Highland Property to the Cavanagh yacht brokerage family. MORE: Trick rich are using to get $200m+ mansions Meanwhile in between trips so far this year to Saudi Arabia, Dubai and Courchavel, Jacenko has been spending more time in Sydney after an 18-month stint in Singapore with her husband Oliver Curtis. Jacenko has expressed mixed feelings about Singapore, describing it as 'soulless.' Last December the Wentworth Courier referenced she was on the home hunt in Sydney's east, inspecting an $18m six-bedroom, four-bathroom Virginia Kerridge-designed Wentworth Rd, Vaucluse mansion several times. MORE: Panelbeater snaps up $450m Sydney shopping centre But the house is still for sale. Jacenko's prior Vaucluse abode was sold for a bullish $16m in May 2023 to the Zhang family. MORE: Chilling reason home builds abandoned
News.com.au
05-05-2025
- Business
- News.com.au
Roxy Jacenko's ‘ giveaway home' sold for $7.3m
The luxury Cronulla home caught up in the Roxy Jacenko giveaway controversy last year has been sold for $7.3m. Zephyr, on Dodson Ave, attracted headlines in March last year when it was offered in an ill-fated promotion for Jacenko's Bootcamp course subscriptions. Jacenko's decision to quit the lottery venture resulted in contested court proceedings. The PR mogul had partnered with the property owners Youssef Tleis and Kassim Alaouie on the promotion, offering her Bootcamp customers the chance to win what was billed as a $10m waterfront. The construction duo had paid $3.36m in 2020, then demolished the 1960s home on 500sq m. Tleis and Alaouie had also unsuccessfully sought in late 2023 to secure a $10m buyer for the contemporary four-bedroom waterfront on Port Hacking. Zephyr has been quietly bought by a company directed by Andrew McVeigh, the Caringbah South-based founder of Remara Investment Management, and his wife, Rachael. The former Brookfield Asset Management chief financial officer served as a board member of the Cronulla Sutherland District Rugby League Football Club in 2017. Cronulla recently saw prices hit $22.5m with a sale on Taloombi St through Highland Property to the Cavanagh yacht brokerage family. Meanwhile in between trips so far this year to Saudi Arabia, Dubai and Courchavel, Jacenko has been spending more time in Sydney after an 18-month stint in Singapore with her husband Oliver Curtis. Jacenko has expressed mixed feelings about Singapore, describing it as 'soulless.' Last December the Wentworth Courier referenced she was on the home hunt in Sydney's east, inspecting an $18m six-bedroom, four-bathroom Virginia Kerridge-designed Wentworth Rd, Vaucluse mansion several times. But the house is still for sale. Jacenko's prior Vaucluse abode was sold for a bullish $16m in May 2023 to the Zhang family.
