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Only way is up for property developers

Barrie Nesbitt and his company, “Bazem”, have been targeting downsizers with house and land packages — now he wants a $20m home in Sydney’s east.

Only way is up for property developers

69 Bulkara Rd, Bellevue Hill has a $10 million price guide.Source:Supplied

Property developers who have done well out of the boom are looking to trade up, with a Bellevue Hill home set to hit the market soon with Ray White Double Bay principal Elliott Placks.

Barrie Nesbitt and his company, “Bazem”, have been targeting downsizers with house and land packages on the upper north shore.

Now he’s looking to upsize with his wife, Emma, so he’s offloading their five-bedroom home with pool on a 1366 sqm block at 69 Bulkara Rd.

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69 Bulkara Rd, Bellevue Hill has manicured gardens (above) and a large pool (below).Source:Supplied

Source:Supplied

CoreLogic records show he paid $6.8 million in 2007.

It’s set to have a $10 million guide at the forthcoming auction via Mr Placks.

Insiders say Mr Nesbitt is looking ideally for a larger estate in Belleuve Hill or Vaucluse in the $15 million to $20 million range.

Also looking for his next property opportunity is Richard Manning, director of Investment and Asset Management at the design and construction company Ganellen.

CoreLogic records show he bought the four-bedroom, two-bathroom home with double garage on 743 sqm block at 6 Holland Rd, Bellevue Hill last September for $5,530,000.

6 Holland Rd, Bellevue Hill has been completely transformed — the before shots (above) and after shots (below) of the kitchen and dining area.Source:Supplied

Source:Supplied

But fresh pictures indicate a substantial renovation — inside and out — with parquetry floors inside, a new marble kitchen, redone bathrooms and new grey tiles around the pool.

The guide is “late sixes”, through Ray White’s Kate Zuppicich and Elliott Placks ahead of an August 22 auction.

Originally published asOnly way is up for property developers

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