Grant Hackett Sells Melbourne Land at Significant Loss Amid Luxury Property Acquisition
Olympic swimming champion Grant Hackett has incurred an $850,000 loss on a vacant block in Brighton, Melbourne, while simultaneously purchasing a $13.4 million mansion in the city's exclusive Toorak suburb.
Olympics legend Grant Hackett has taken an $850,000 loss on a parcel of land he is selling in Melbourne's bayside suburb of Brighton. The two-time gold medallist and his wife, Sharlene, purchased the 1181-square-metre property for $8.5 million in 2024 with plans to build a home.
However, the couple has now significantly reduced their asking price. Initially seeking up to $8.8 million, they have revised the price guide to between $7.25 million and $7.95 million. The deadline for expressions of interest has also been extended from June 9 to June 30.
The Brighton property is situated a short distance from Port Phillip Bay and is described as being on one of the suburb's premier streets. Included with the sale are plans for a three-storey mansion designed to feature indoor and outdoor swimming pools, as well as a cinema.
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This sale follows the Hacketts' purchase of a $13.4 million mansion in nearby Toorak, a suburb widely considered Melbourne's most affluent. The Toorak residence boasts a six-car garage, a self-cleaning pool, and a climate-controlled wine cellar.
The newly acquired home, designed by Nicholas Day Architects, spans four levels and includes five bedrooms and six bathrooms. It also features a lift, a rooftop terrace, and a gym. The kitchen is outfitted with marble and Gaggenau appliances, and the main bedroom suite includes a lounge room, accessory closet, and dressing room.
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Grant Hackett stated on Instagram that the decision to sell the Brighton land was "bittersweet" but that "the next chapter will be just as rewarding." The Toorak property will serve as the family home for the couple's children, Edward and Olympia, as well as Hackett's twins from a previous marriage, Jagger and Charlize.
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Hackett is currently the chief executive of the finance company Generation Development Group (GDG). He joined GDG in 2017 and was appointed CEO in January of the previous year. Under his leadership, GDG's market capitalization grew significantly, from approximately $50 million in 2020 to $2.35 billion by August 2025. During this period, the company invested in and acquired Lonsec Holdings, and launched investment-linked lifetime annuities.