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Around the Internet => Antimustachian Wall of Shame and Comedy => Topic started by: mustachepungoeshere on March 19, 2018, 03:29:41 PM

Title: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: mustachepungoeshere on March 19, 2018, 03:29:41 PM
Quote
When faced with the prospect of their neighbours adding a third storey and rooftop terrace to a home, which is set directly in front of their Bellevue Hill Georgian mansion, it appears the Murdochs took another course of action and bought the house and the DA-approved plans with it for $4.4 million.

https://www.domain.com.au/news/lachlan-and-sarah-murdoch-surreptitiously-bought-their-neighbours-bellevue-hill-home-for-44-million-20180318-h0x914/
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: Miss Piggy on March 19, 2018, 03:39:44 PM
Pocket change.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: marty998 on March 20, 2018, 02:34:04 AM
This NSW taxpayer thanks Mr Murdoch for his stamp duty contribution.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: partgypsy on March 20, 2018, 10:28:27 AM
Honestly if I was that rich I would do something like that too, to protect my view.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: honeybbq on March 20, 2018, 12:21:11 PM
Honestly if I was that rich I would do something like that too, to protect my view.

Right? Me too.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: Icecreamarsenal on March 20, 2018, 03:29:27 PM
In Mustachian parlance, should read:
Lachlan Murdoch spends 0.0004% of his net worth to protect his view.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: chouchouu on March 21, 2018, 03:53:39 AM
I learned to sail at the same yacht club he is a member of. I remember my instructor told me she advised him not to buy a maxi yacht and instead just borrow or sail with others since you don't use a maxi yacht that often and upkeep, mooring etc is so expensive. I was impressed he was diligent enough to be economical about his yacht ownership.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: Laura33 on March 21, 2018, 07:11:29 AM
Eh, when you've already paid $23M for a mansion, apparently with plans for an extensive renovation that the neighbors opposed, paying another $4.4M to protect the view and get rid of said neighbors seems like a reasonable investment.  At least there are much stupider things he could have spent that money on. 

(Like, you know, a $23M house that requires extensive renovations.  But that's just me.)
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: Dicey on March 21, 2018, 07:12:13 AM
I learned to sail at the same yacht club he is a member of. I remember my instructor told me she advised him not to buy a maxi yacht and instead just borrow or sail with others since you don't use a maxi yacht that often and upkeep, mooring etc is so expensive. I was impressed he was diligent enough to be economical about his yacht ownership.
Which might be why he had enough spare pocket change to buy his neighbor's property. Also, it's not like he blew the money. He got something that adds to the value of his estate. I agree with this POV:

In Mustachian parlance, should read:
Lachlan Murdoch spends 0.0004% of his net worth to protect his view.
I was going to add it's not like he spent it on hookers and blow, or rock hoppers and Yeti coolers, but I wasnt sure if there was a trendier name for those lifted, off-road trucks, the tallest of which tend to be driven by short guys, so I asked Google. Sonofabitch, look what a laugh good ol' Google served up:

https://axleaddict.com/trucks-vans/truck-names

The article is actually titled "101 Badass Truck Names". *Facepalm* Badass, my ass.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: Samuel on March 21, 2018, 08:56:49 AM
That's one hell of a guesthouse...
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: Prairie Stash on March 21, 2018, 09:16:57 AM
Eh, when you've already paid $23M for a mansion, apparently with plans for an extensive renovation that the neighbors opposed, paying another $4.4M to protect the view and get rid of said neighbors seems like a reasonable investment.  At least there are much stupider things he could have spent that money on. 

(Like, you know, a $23M house that requires extensive renovations.  But that's just me.)
Is it actually a smart investment? How much would his $23 millon property decline in value with a poor view. Can anyone guess what the combined value of the properties would be if the cheaper property had indergone a renovation?

As crazy as it sounds, this may have been a smart choice (if you negelct that buying a $23 million property is crazy).
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: chouchouu on March 21, 2018, 05:36:43 PM
Eh, when you've already paid $23M for a mansion, apparently with plans for an extensive renovation that the neighbors opposed, paying another $4.4M to protect the view and get rid of said neighbors seems like a reasonable investment.  At least there are much stupider things he could have spent that money on. 

(Like, you know, a $23M house that requires extensive renovations.  But that's just me.)
Is it actually a smart investment? How much would his $23 millon property decline in value with a poor view. Can anyone guess what the combined value of the properties would be if the cheaper property had indergone a renovation?

As crazy as it sounds, this may have been a smart choice (if you negelct that buying a $23 million property is crazy).

I would say it's a decent investment. Sydney high end real estate is always in demand and has a big market with Chinese billionaires buying trophy properties. We're also growing our population so it's extremely unlikely property values will go down in the long term even though there is an expected market correction soon-would probably effect more lower end property.  High end sydney real estate tends to for three things; heritage, harbour front and views. Especially considering a view of Sydney Harbour is considered one of the most beautiful in the world. At the high end of the market spending roughly 20% of your house value protecting a major selling point is probably worth it.  It is what makes those suburbs prestige compared to similar sized properties equal distance from the city.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: mustachepungoeshere on March 21, 2018, 07:18:48 PM
I learned to sail at the same yacht club he is a member of. I remember my instructor told me she advised him not to buy a maxi yacht and instead just borrow or sail with others since you don't use a maxi yacht that often and upkeep, mooring etc is so expensive. I was impressed he was diligent enough to be economical about his yacht ownership.

Paul Clitheroe recommends only buying yachts third-hand.

This is the guy who named his yacht Balance.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: Laura33 on March 22, 2018, 09:42:17 AM
Sounds like the house was for sale for "more than $4M" as is.  So at most, he really bought a $4M house and a $400K view.  And with almost $35M sunk into the primary house, $400K is chump change for the value he gets.

Although I bet the approved plans significantly increased the value of the house.  Still, the house as-is has to be worth a considerable amount, especially with the almost 6000 square meter lot.  And it probably has some views, too.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: seattlecyclone on March 22, 2018, 04:51:39 PM
I appreciate that he did that. Around here, neighbors who oppose other neighbors building larger buildings blocking their view would simply tie up the building permit in red tape while lobbying the city council to change the zoning on the land. Buying the property seems like a much more honorable solution.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: alsoknownasDean on March 30, 2018, 04:55:54 AM
In an area like that, I'm surprised that it was only worth $4.4M.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: UnleashHell on March 31, 2018, 04:31:07 AM
In an area like that, I'm surprised that it was only worth $4.4M.

maybe its value was depressed because of who lived next door....
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: marty998 on March 31, 2018, 03:26:44 PM
In an area like that, I'm surprised that it was only worth $4.4M.

maybe its value was depressed because of who lived next door....

Murdoch wouldn't actually spend a lot of his time there. Lifestyles of the rich and the famous and all that jazz. Gotta outrun those paparazzi too who stake out the area.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: calimom on March 31, 2018, 10:02:06 PM
I once read that cosmetics baroness Estee Lauder paid the potato farmers that surrounded her home in the Hamptons to plant clover. Sot that Estee could look out the windows of her part time abode and see clover, clover, clover as far as the eye could see.

Potatoes are ugly and for the proletariats!
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: marty998 on April 01, 2018, 07:44:46 PM
I once read that cosmetics baroness Estee Lauder paid the potato farmers that surrounded her home in the Hamptons to plant clover. Sot that Estee could look out the windows of her part time abode and see clover, clover, clover as far as the eye could see.

Potatoes are ugly and for the proletariats!

Sunflowers would have been nicer.
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: Dragonswan on April 02, 2018, 01:51:34 PM
I appreciate that he did that. Around here, neighbors who oppose other neighbors building larger buildings blocking their view would simply tie up the building permit in red tape while lobbying the city council to change the zoning on the land. Buying the property seems like a much more honorable solution.
Yeah, couldn't he have just bought the air rights over the house thus preventing the owners from building up?  Or do that not have that in Sydney?
Title: Re: Lachlan Murdoch paid $4.4 million for neighbouring mansion to protect his view
Post by: TheGrimSqueaker on April 03, 2018, 08:27:52 AM
I once read that cosmetics baroness Estee Lauder paid the potato farmers that surrounded her home in the Hamptons to plant clover. Sot that Estee could look out the windows of her part time abode and see clover, clover, clover as far as the eye could see.

Potatoes are ugly and for the proletariats!

Sunflowers would have been nicer.

With clover the farmers could have double-dipped in a big way if they went in for beehives. Honey production has a nice ROI once you get past the initial investment for nucs and hives, but if you've got something reliable for the bees to collect pollen from. Clover is among the best.