HE’S a wealthy fund manager with deep pockets, but even billionaires can be outbid in Sydney’s property market.
That’s what Platinum Asset Management founder Kerr Neilson discovered on Saturday, when he walked away from the auction of a two-bedroom, one-bathroom house at McMahon’s Point on the lower north shore.
His final bid of $8.25 million was not enough to secure the waterfront home, which comes with a dilapidated boat shed and slip — and is expected to be knocked down to make way for a large family home.
Prime position on Sydney’s lower north shore. Source: Supplied
READ MORE VIA NEWS.COM.AU