$14.2 million home buy gives CEO five waterfront blocks

Thanks to a $14.2 million purchase of the house next door, Westfield co-chief executive Steven Lowy is reportedly now the proud owner of a block of Sydney waterfront properties consisting of no fewer than five lots.

Although real-estate agents Bradfield Cleary remained tight-lipped about the identity of the cashed-up buyer, residents of the Watsons Bay suburb were in no doubt about who it was.

Lowy has been a devoted fan of his Camp Cove location since 1991, when he paid $2.5 million for a double block on which he commissioned an award-winning contemporary home by architect Peter Stronach of Allen Jack Cottier.