Brown-Neaves grabs Yallingup getaway

Property and construction entrepreneur Garry Brown-Neaves has bought the home Steve Tobin built in Yallingup, paying $8.5 million for the eight hectare property.

Set just a month after the property hit the market, the price was well below Mr Tobin’s goal of breaking a local record at $15 million and largely matches the estimated cost of the new home.

The Tobins had held the 77 Thornton Road site via a private company for 12 years, having bought it for 1.7 million.

Mr Tobin, a resources contracting entrepreneur who sold 65 per cent of his Queensland-based Terrex Seismic to private equity group Allego seven years ago, last year told Business News that his family had decided to relocate to Perth having spent years developing the property.

It is a neighbour to Aravina Estate, a wine and hospitality property developed by the Tobins and sold in 2023 to Indonesia’s second richest man Low Tuck Kwong.

Mr Brown-Neaves sits on the Business News Rich List with a fortune estimated at $350 million.

He is an active property investor through his family office, Brown-Neaves Investments,  having sold his interest in major WA residential builder ABN Group to his partner Dale Alcock in 2016.