PHOTO: Cricket legend Ian Chappell relaxes at Bayview on Sydney’s Northern Beaches.
Renowned Australian cricket icon, Ian Chappell, has recently sold his cherished waterfront residence, reaping a truly impressive profit that rivals any century in Test cricket or triumph in the Ashes.
Having purchased the four-bedroom house on Alexandra Crescent, Bayview, situated on Sydney’s Northern Beaches nearly four decades ago, Chappell demonstrated astute foresight. At the time of his acquisition, the average Sydney house price hovered around $80,000.
According to property records, Chappell sold his north-facing abode, encompassing 2,105 sqm spread across two titles, for $3.55 million earlier this month. The transaction, facilitated by Hunter Estate Agents Duane Hunter, concluded after a mere 23 days on the market.
Unfortunately, the records do not disclose the amount Chappell originally paid for the property.
Surprisingly, no significant renovations were recorded during his occupancy, suggesting that Chappell’s long tenure in Bayview may have yielded a profit of approximately $3.4 million—equivalent to an annual return of $85,000 (the original cost of the home) and a staggering price growth of around 4000%.
Clearly, the beloved cricketer known as Chapelli made wise investments with his earnings from the World Series.
A research paper by the New South Wales government reveals that between 1995 and 2005, real estate prices in Australia escalated by over 6% annually, significantly surpassing the average annual increase of a mere 1.1% in the preceding two decades.
Hence, Chappell’s selling price potentially exceeded 40 times the amount he and his wife Barbara initially paid—an exceptionally well-deserved outcome after a lengthy innings.
The outspoken 79-year-old left an indelible mark during his illustrious career, having played 75 Tests for Australia from 1964 to 1980, known for his aggressive batting and astute captaincy.
Recently, Chappell has been making headlines ahead of the second Ashes Test at Lord’s due to his renewed feud with English cricket legend Sir Ian Botham, which dates back to a pub brawl in 1977.
Chappell has lived in the home for four decades.
Regarding their strained relationship, Chappell stated, as reported by Fox Sports, “I’ve had mates say, ‘Why don’t you just make up?’ and I say, ‘Well, firstly, if he wants to apologize for the lies he has told, I would accept that. But why would I make up and be friends with a guy who I have nothing in common with? I think his commentary is the worst of the long-term commentators. I have no interest in his interests, and I have nothing to talk to him about. In other words, if I sat down with him, it would be boring as hell to me, and why do I want to put myself through that?'”
The deep-rooted animosity between Chappell and Botham is explored in a new documentary, “The Longest Feud,” released in conjunction with the Ashes series in England.
Needless to say, Chappell’s new abode won’t be graced by Botham’s presence for any cricket viewing.
Regardless, Chappell enjoyed a long and memorable sojourn at one of Bayview’s most esteemed locations.
“Perched high on one of Bayview’s exclusive cul-de-sacs, this exceptional property arguably represents the pinnacle of the area,” touted the listing for his home.
“Encompassing a rare 2,105 sqm parcel of land spread across two lots and titles, the views are simply breathtaking, facing north and spanning from Pittwater to Lion Island.
“The expansive double-brick residence, designed to maximize the panoramic views, was grand in its prime and now presents an excellent opportunity for rejuvenation.
“Consider renovation or the possibility of replacing it with one or two homes (subject to council approval) to fully capitalize on this extraordinary offering.”
According to PropTrack, the median house price in Bayview currently stands at $2.968 million, reflecting a 13.3% decline over the past year.