TLDR:
- Canva’s share sale makes investors rich overnight, leading to property purchases.
- Rick Baker of Blackbird Ventures buys a $14.5 million house in cash in Kurraba Point.
In a recent turn of events, design software giant Canva completed a share sale worth $3.6 billion, enriching its staff and early investors. This windfall prompted many, including Rick Baker, co-founder of Blackbird Ventures, to invest in high-end properties. Baker, along with his partner Victoria Baker, traded their Artarmon residence for a Mediterranean-inspired house in Kurraba Point worth $14.5 million, paid in cash. Baker’s purchase was part of a trend where more than half of Canva’s staff were reported to be investing in real estate following the share sale.
Meanwhile, Surfection founder Chris Athas and his wife Amanda acquired a house on Balmoral Beach rumored to be priced at over $20 million. Additionally, Bondi Sands co-founder Shaun Wilson and his fiancee Tess Shanahan purchased a six-bedroom house in Byron Bay for more than $8 million. The luxury real estate market also saw Macquarie Group’s senior executive Mark Cruikshank acquiring a newly built house in Haberfield for a record $7.3 million.
With Canva’s success leading to significant investments in property, the trend of venture capitalists making notable moves in Sydney’s high-end real estate market continues to grow.
