Leon Kamenev, the Ukraine-born entrepreneur behind Australia’s largest online food delivery service, has been identified as the mystery buyer behind one of Sydney’s most significant real estate transactions.
The Menulog co-founder quietly acquired four adjoining properties on Coolong Road in Vaucluse—one of Sydney’s most exclusive suburbs—for a total of AU$80 million (approximately $62 million). The off-market purchase sets a new benchmark in Australian luxury real estate.
Kamenev, 58, has come a long way since fleeing the Soviet Union in 1990, when he worked as a pizza delivery driver while learning English in Sydney. Now ranked among Australia’s wealthiest individuals, he holds an estimated net worth of AU$308 million (about $238 million), placing him at No. 186 on the Australian Financial Review’s Rich List.
While reports suggest he plans to demolish the existing homes to build a private luxury compound, Kamenev remains tight-lipped about his intentions. “I plan to keep it private,” he told AFR.
Sydney’s ultra-luxury property market continues to attract high-profile buyers. This week, Mansion Global reported an AU$80 million waterfront mansion being aggressively marketed to Chinese investors—potentially setting a new record if it sells at or near asking price.
Vaucluse has long been a hotspot for elite buyers. In 2015, Chinese-Australian billionaire Dr. Chau Chak Wing set the previous record when he purchased media mogul James Packer’s former estate for AU$70 million (approximately $54 million). Kamenev’s discreet acquisition highlights the increasing demand for prime waterfront real estate in Sydney’s most prestigious enclaves.
