Bellevue Hill home of Ralan Group founder William O'Dwyer hits the market for $8.5m

The Bellevue Hill home of William O’Dwyer, founder of collapsed property empire Ralan Group, hit the market this weekend for $8.5 million.

The four-bedroom residence is heavily mortgaged, including a loan from NAB and another from Wingate Property, which was Ralan’s main finance partner until the Sydney-based developer collapsed in mid-2019 with debts of more than $560 million.

Sources say buyers are being given a guide of $8.5 million.

Michael Pallier of Sydney Sotheby’s International Realty has set a March 27 auction.

O’Dwyer and his wife Joanne purchased the home in 2007 for $5.7 million and, from the latest images, appears to have been renovated since.

On 682 square metres of land, the home features a spacious rear outdoor area with a barbecue deck and pool and a front balcony with city views.

It includes four bedrooms, four bathrooms, an office space, a double lock-up garage and ducted airconditioning.

The listing comes as Sydney’s housing market has been booming, with clearance rates holding above 80 per cent in recent weeks.

Bellevue Hill’s median house price is $5.8 million, Domain figures show, up 5 per cent over the year to December despite the COVID-19 pandemic.