Fashion entrepreneur revealed as new owner of $48.5m Sydney mansion

Fashion entrepreneur Natalie Khoei has been identified as the buyer who splashed almost $50 million on a grand trophy home in Sydney’s eastern suburbs.

Khoei, the co-owner of Australian online fashion brand Meshki, bought the six-bedroom mansion on Kambala Road in Bellevue Hill in mid-March, property records revealed.

She purchased the home for a confirmed price of $48.5 million.

The stately home spans a 1567-square-metre block and has views of treasured Sydney icons, the Sydney Opera House and Sydney Harbour Bridge.

It was previously owned by Australian filmmaker Warwick Ross and his wife Margot Ross.

The Rosses bought the property in 1996 for $3.27 million. 

The property was listed with McGrath Double Bay’s Luke Hogan and William Manning.

Khoei, who is in her 30s, garnered fame and fortune after founding Meshki with her business partner Shadi Kord in 2013. 

The business name, which means black in Farsi, reflects the friends’ Iranian heritage.

The friends started the fashion brand with just $400 – $200 each – while studying architecture at the University of New South Wales.

They started designing and selling a full fashion range in 2015.

“We realised there was a gap in the market for pieces that are unique and luxurious yet accessible,” Khoei told Forbes in 2021.

Since gaining popularity with the likes of US singer and actor Jennifer Lopez and models Hailey Bieber and Kendall Jenner, Meshki has more than 3 million followers on Instagram. 

Last year, the business reported an annual turnover of $69 million and a net profit of $11.7 million, almost double the $5.9 million profit of the previous year.

They also ship to more than 190 countries worldwide.

Khoei’s purchase of the Bellevue Hill home makes the business partners neighbours.

Kord and her husband, Bayan Fanaeyan, of Le Baus men’s fashion label, bought a designer Bellevue Hill residence in August 2024 for $22.75 million.

The house was previously a 1920s-built bungalow owned by Investors Mutual chief executive Damon Hambly and his wife, homewares businesswoman Philippa Haydon. 

The couple bought the property in 2010 for $3.7 million and commissioned a rebuild by celebrated architect Luigi Rosselli.

The six-bedroom, five-bathroom residence set across three levels was completed in 2017, and includes formal and informal living areas, a swimming pool and home gym. 

Ray White Double Bay’s Elliott Placks had listed it for $23 million before it sold.