Former Sydney madam Jamelie Lahood sells in Yowie Bay
The former Sydney madam Jamelie Lahood, who is behind in her Australian Tax Office (ATO) payments, has sold her Yowie Bay property, after it was on the market for three months.
It was part of an impressive property portfolio that peaked in value at $10 million plus.
The Yowie Bay title comes with a caveat from the ATO indicating she is working with the tax commissioner on her repayments.
The title also comes with a subsequent caveat after she borrowed money from Fadi Ibrahim, while a third caveat is from her lawyer in Parramatta to protect his legal fees.
Lahore reportedly owes almost $2 million in unpaid taxes.
Lahood, who ran Stilletto in Camperdown, paid $3 million for the five bedroom Yowie Bay waterfront in 2011.
She bought the home from Fantastic Furniture chairman Julian Tertini.
Set on 1,151 sqm, the double brick residence is surrounded by glass wrapped walls which offer views over the Port Hacking River.
The alfresco dining area overlooks the in-ground pool and jacuzzi.
McGrath Brighton le Sands agents Bill Tsounias and Trent Tarbey sold the home.
Lahore has offloaded her longtime three bedroom property in Dural for $2,777,000 having paid $465,000 in 1995.
A commercial space in Parramatta was also sold at $1.25 million.
The remainder of Lahood's portfolio includes a four bedroom Gladesville knockdown that cost $2.85 million and a $1.6 million four bedder in Helensburgh that she bought in 2015.
This week Fadi Ibrahim took NSW Supreme Court action arguing the $2.8 million sale was being sold too cheaply.
Barrister Craig Wilson said Ms Lahood owed Mr Ibrahim $2.9 million, loans secured in part by a caveat on the Yowie Bay home.
Wilson said Ms Lahood had contracted to sell for $2.8 million when it was in fact worth $3.8 million to $4.2 million.
Lahood has a $2.2 million mortgage with Westpac bank, which has commenced separate legal proceedings against her.
The Yowie Bay matter is set to return to court on Friday.
