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Sydney property: Rich Lister Ian Malouf buys $20 million getaway in Palm Beach

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Rich List garbo-turned-yacht broker Ian Malouf has joined the crush of prominent eastern suburbs families on Palm Beach’s Snapperman Beach, buying a weekend getaway for about $20 million.
The beachfront house in the exclusive Sydney suburb has long been owned by the McNiven family, bought in 1997 for $2.06 million and held by late businessman John McNiven until recently, when Malouf negotiated to buy it directly.
Malouf declined to comment on the purchase, saying that he didn’t know that information was out yet, and settlement would reveal the price.
Palm Beach’s Snapperman Beach is crammed full of holiday goers from the eastern suburbs, including the most recent arrival, Ian Malouf.

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