Olympian and basketball royalty Brad Newley has bounced his swish Adelaide townhouse, with the NBA star’s debut investment project selling at auction over the weekend.
The 39-year-old, who recently called time on his professional career of over 20 years, had officially bid farewell to the three-bedroom home at 76a Cremorne St, Malvern, which he purchased as “a young guy” in 2008 for $750,000, according to Land Services records.
The property sold at auction on Saturday for $1,711,500, fetching its owner a gross resell profit of $961,500.
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Newley has owned the home at 76A Cremorne St, Malvern for the past 16 years.
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The home features a north-facing rear with alfresco pavilion and large garden patio,
Light-filled interiors impressed buyers.
Selling agent Jake Tidmarsh of Alexander Real Estate said the home proved popular with downsizers but, in the end, it was two Millennial buyers who fought for the residence at auction.
“We had three registered bidders but it was two parties that really wanted it,” he said.
“The final buyers were younger, in their thirties, and they were really going for it … as they loved the home and the location.
“We ended up with a good result, good interest and got the price that we were after.”
Speaking to the Advertiser ahead of the sale, Mr Newley said the home had been a sound investment for close to 16 years.
“I bought the property before I started my basketball career overseas and interstate, so as a young guy and just have held on to it for all this time,” he said.
“I was fortunate at the time that my father bought the whole block that was there in the early 2000s which we then converted into a duplex and I had one, while he had the other.
“It was the first place I ever bought and it’s been a really good investment. I also like to think that I’ve been a pretty good landlord for all those years.”
The light-filled home sits on a 364 sqm allotment and showcases meticulous upkeep and attention to detail on a south-north parcel. An open-plan kitchen, dining, and lounge area is the heart of the house, complete with direct access to the rear alfresco pavilion, perfect for entertaining.
The ground floor also features a main bedroom with a walk-in robe and ensuite, as well as a second living area at the front of the house.
The home comes with three good-sized bedrooms.
The home has two bathrooms.
Brad Newley drives at the basket during the round 20 NBL match between Melbourne United and Illawarra Hawks at John Cain Arena on February 18, 2024, in Melbourne. (Photo by Graham Denholm/Getty Images)
Mr Newley said while the time had come to bid farewell to the home, he did not rule out investing in Adelaide in the future.
“My wife and I and our families are both from Adelaide originally, so there’s always a chance,” he said.
“But I’ve now finished up my career as an athlete and getting into the corporate side of my sport … here at Melbourne United, so my job right now is here.
“But my wife is a teacher and her job is pretty flexible … so there is a chance that we could end up back in Adelaide but for now, we’ll settle here in Melbourne.”
Newley has an extensive basketball career, spanning well over 20 years.
He made his NBL debut with the Townsville Crocodiles at the age of 19 years but later also played or the Sydney Kings, Melbourne United and plenty of overseas teams.
He’s represented Australia at both the Beijing Olympics and London Olympics, competed in three World Championships (2006, 2010, 2014) and won two Commonwealth Games gold medals (2006, 2018).