Roche family to emerge as $21 million Palm Haven, Palm Beach buyers
The eastern suburbs Roche family are to emerge as the mystery buyers of the recently sold $21 million Palm Beach beachfront.
The family is headed by Bill and Imelda Roche, who founded the direct marketing beauty products company Nutrimetics International in the 1960s.
The family acquisition of the Phillip Cox-designed trophy home, Palm Haven, ranks as the fifth highest sale so far this year.
It was sold by the family of Phillip Esplin, the late founder of Esplins Solicitors, who spent $800,000 in the late 1980s then $1.3 million next door to create the sprawling 2075 square metre Barrenjoey Road beachfront.
LJ Hooker Palm Beach agent David Edwards had the listing.
The sale comes amid the quietest trophy home market since the global financial crisis slowdown.
There have been only five recorded sales at $20 million-plus across Sydney this year, compared with 20 through last year.
The highest sale has been press scion Alexander Ma securing around $29 million in Vaucluse; followed by Stephen Burcher’s $23.56 million in Rose Bay and Rudi Sisic’s $22.6 million just next-door.
The Point Piper harbourfront of insurance mogul Richard Enthoven and his wife Karen ranks fourth having sold this month for about $22 million.
This article was first published in the Sunday Telegraph.
