Entertainer Rove McManus has reaped a property boom windfall from the sale of his Coogee beach house. The comedian and TV producer sold his contemporary 4-bedroom home for an impressive $7.29 million on Friday, netting a profit of over $3 million in just three years.
McManus purchased the property in March 2021 for $3.76 million, according to property records. He then invested $340,839 in renovations a year later, transforming it into a “brand-new masterpiece” as described in the property listing.
The sale price reflects the broader trend in Coogee’s property market. PropTrack data shows the median house price in the eastern suburbs enclave has now reached $3.6 million, with McManus’s property far exceeding this benchmark.
Located just minutes from the popular Gordon’s Bay, the home boasts luxurious finishes across its three levels. The property features four bedrooms, three bathrooms, a sunny entertainer’s courtyard, a pool, and a lock-up garage. Spanning 285 square meters, the residence is described as a “designer masterpiece” with “exceptional attention to detail.”
This sale underscores the continued strength of Sydney’s premium property market, particularly in desirable beachside suburbs. For McManus, it represents a savvy investment that has paid off handsomely in a relatively short period.
As Sydney’s property market continues to evolve, sales like this one demonstrate the potential for significant returns in sought-after locations. Whether McManus plans to reinvest in the area or seek new horizons remains to be seen, but one thing is clear: his Coogee gambit has resulted in a very profitable payday.
Published 13-May-2024
