Sydney’s most expensive homes don’t come cheap, with a $60 million bottom line just to crack the top 10, so it’s a little refreshing to see local fashion designer Nicky Zimmermann join our list of top luxury home buyers.
The Vaucluse waterfront home of farming businessman and investment banker Garrick Hawkins and his wife Evelyn was previously on the market for $60 million until it was sold from the estate earlier this year. Quietly withdrawn on the site.
The Coolong Road property had never traded at the time, but title searches this week showed it had traded on October 31, with an expression of interest lodged by HWL Ebsworth Lawyers showing the buyers were Zimmermann and her husband Chris Olliver, of Zimmermann Global CEO of Fashion Empire.
The sale price remains undisclosed, but Hawkins is understood to be keeping hopes of $60 million alive through agent Ken Jacobs, who, sources say, has made a lot of money in recent months. Jacobs and buyers’ agent Simon Cohen frequent the property.
The fashion designer’s takeover underscores the success of her eponymous label, as she began selling her designs from a stall in Paddington Market in 1991 and co-founded the fashion label shortly thereafter North Bondi’s eldest sister Simone.
With many Australian brands constrained by the retail downturn in 2019 and the pandemic in recent years, Zimmermann has proven to be one of the industry’s success stories, with dozens of stores around the world and Milan-based investment fund Style Capital acquiring 70 % stake in the brand with estimated sales of $446 million in 2020.
Zimmermann’s new house is a three-storey residence with Thomas Hamel interiors on almost 1,700 square meters of seafront. The floor plan includes formal and informal living and dining rooms, entertainment and billiards rooms, dark room, home office, cellar, six bedrooms, nine bathrooms and a four-car garage.