Race car driver Ash Samadi sells his Bondi guest house for $22million

Race car driver Ash Samadi has sold a guest house in Bondi Beach for $22million with a record profit.

The Iranian-born property developer secured a deal with a local eastern suburbs resident ahead of a scheduled auction for the 252 Campbell Parade pad on Tuesday.

The price guide was initially set at $20million and sold for ‘about $22million’ to a buyer who plans to convert it into a home, reports Realestate.com.au.

Samadi’s guest house had three buyers all pitching to buy the property before it went to auction.

According to property records, the race car driver purchased the site in 2019 for $7.5million, turning a rough $14.5million dollar profit.

But listing agents, Raine and Horne’s Ric Serrao and Albert Sassoon, state that the 2019 sale was in fact part of a structured deal. 

Samadi’s guest house comes with DA-approved plans by Red Blue Architecture + Design for a six-level property with dream views of the beach.  

It features four expansive bedrooms, four bathrooms and basement parking for two vehicles.

There are also ample living spaces in the pad, balconies to view the stunning beachside that sits from across the property, rooftop terrace, sunroom with 586sqm of internal space.

It is placed in a prime location right in the heart of Bondi around the local eateries, shops and schools. 

Ash Samadi currently resides in a Tamarama home he purchased in 2017 for $7.5million.

The Iranian property developer previously lived at a Point Piper mansion that he sold in March for $15.01million after having it on the market for four years.