![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
12 Victory St, Coogee sold for $14m at the October 27 auction.
Tech billionaire James Ferguson has bought a beachside trophy home for $1m less than the $15m price guide at an auction where he was the only active bidder.
The 34-year-old, who alongside his younger brother, Robbie, 29, co-founded crypto business Immutable, pounced on the five-bedroom home in Victory St Clovellywith panoramic ocean views for $14m on October 27.
That’s just $500k more than the vendor, Anthony Goodridge, grandson of late millionaire property developer Isador Magid and his wife, Daniella, had paid for the property five years earlier.
Ferguson had buyer’s agent Leon Jacques of Aurum Advisory acting for him, who had no comment about the identity of his client, saying only “it’s a fabulous home, my personal dream home, in a rock star position”.
Other sources revealed the actual buyer.
MORE:
Jamie Durie slashes mansion price by $15m
James and Robbie Ferguson.
The guide for the trophy home had been $15m.
It’s understood there was only two registered parties for the luxury home, though just Jacques, acting for Ferguson, was active.
The deal was more a negotiation than an auction.
The Goodridges are reportedly planning to downsize, so they’d the listed the incredible home, designed by award-winning architect Jon King and with heated pool overlooking the ocean, sauna and five-car garage, with Raine and Horne Double Bay’s Paul and Ben Langsam, who had no comment when contacted.
The listing came just a week after Anthony’s uncle, property developer Robert Magid, sold his Point Piper mansion. At the time it was reported that it sold for close to the latest $75m guide$10m less than the $85m guide it had when first listed in August.
Multiple sources now say it actually sold for about $68m.
The vendors bought it for $13.5m in 2021.
The property has five bedrooms.
The Ferguson brothers are the sons of former Macquarie investment banker Tony Ferguson and a doctor, Robin Ferguson.
They grew up in the upper north shore suburb of Pymble and attended Knox Grammar, where Robbie was named dux with an ATAR of 99.95.
Immutable founders Alex Connolly (right) and brothers Robbie (left) and James Ferguson. Immutable is involved in creating games, pictured at 1989 Arcade Bar in Newtown. Picture: Jonathan Ng
Both brothers later attended the University of Sydney before shifting their focus to tech and launching their computer games and infrastructure company Immutable, originally known as Fuel Games.
In 2019 the company changed its name to Immutable and it’s now one of Australia’s most valuable tech companies, worth about $3bn.
The brothers were No.6 on this year’s Australian Financial Review Top Richest Australians Under 40.
MORE: