David Gonski scrapping Elizabeth Bay penthouse renovation and relocation plans

David Gonski scrapping Elizabeth Bay penthouse renovation and relocation plans
David Gonski scrapping Elizabeth Bay penthouse renovation and relocation plans

Businessman David Gonski is a much admired multi-tasker, but the he's stalled plans for the full renovation of his proposed Elizabeth Bay penthouse.

Indeed Title Tattle notes he's actually put the newly acquired Elizabeth Bay penthouse up for sale, seemingly staying put in Point Piper.

The renovation was set to cost just $237,000.

It was no surprise the bookish David Gonski, the consummate Sydney business networker and chairman of the Future Fund, was going to remove the three pin golf putting green replacing it with a pool at the Billiard Avenue apartment, but it was obviously a low-order task.

Totalling 425 square metres internally, it has vast living area and a 375-square-metre terrace with harbour views.

Title Tattle gathers some internal works including some layout reconfiguration did get done.

The existing spa, pond and water feature were also to be removed as part of the pool installation under plans lodged by GSA Planning (see picture below) to a design by Tobias Partners.

He's not been in the headlines of late given reports he might become the ANZ Bank chairperson, and previously for his report of schools funding for the Gillard government.

He is chairman of Investec Australia, the bank that bought his corporate advisory firm, Wentworth Associates, in 2001. 

The Billyard Avenue apartment sale through Savills agent Martin Schiller cost $12 million in mid-2012, through a holding company fronted by a non-beneficial director, the solicitor and corporate finance adviser, Mark Cohen, who since 2010 has been an Investec director.

Now Ballard Property Group has it listed with the undisclosed asking price understood by Property Observer to be $14 million.

That price matches the $14 million paid in 2006 when bought by Hal Herron, the former Deutsche banker. Herron had bought the penthouse from ballet clothing manufacturer David Wilkenfeld, who paid $7.1 million for it in 2001.

Gonski didn't really give any immediate indication of departing Point Piper, given the apartment was initially listed for rent at about $5,000 a week through Ballard Property Group.

Title Tattle notes some golfing lineage in the family as Gonski's father, Alexander, was a neurosurgeon and a founding member of the New South Wales Gold Club at La Perouse.

David Gonski plays tennis.


Source: GSA Planning

The penthouse is atop the lavish Burley Katon Halliday complex of six apartments built in 1998 on the site of Cardigan, the former home of the late Cedric and Elizabeth Symonds, by the East Asia Property group.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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