Aussie John Symond sells Elizabeth Bay apartment for $7.25 million
The London-based Aussie John Symond has sold an investment apartment for $7.25 million.
The Elizabeth Bay apartment was bought in 2015 for $6,125,000, reflecting 4.5% annual price growth during the near four year ownership by the retired mortgagee broking pioneer.
It was apparently superflouous to his needs, not a reaction to the declining market sentiment.
The three bedroom, three bathroom apartment had been a $3,900 a week rental after its 2015 acquisition.
Symond retains two other apartments in the boutique complex.
His fashion designer daughter Deborah Symond who recently married Ned O’Neil, son of property developer Denis O’Neil lives in the complex. His Knightsbridge, London-based son, Stephen has the complex as his Australian bolthole.
Developed by the Hindmarsh Group, the complex, which comes with park and harbour views, is a six-level development, designed by PTW Architects' Andrew Andersons, and marketed as featuring interiors by Freedman Rembel.
Its flooring was a mix of timber, stone and carpet with fireplaces in the living rooms.
It is not the only investment property he's sold recrntly.
The other was a $13.5 million Point Piper penthouse, near his own home on Sydney Harbour, which was renovated after it cost $8.2 million when bought from Nati Stoliar. It was briefly a $5000 a week rental.
Last year he opted out of selling his Point Piper mansion despite an offer of more than $100 million.
Wingadal, his Point Piper trophy home set on 2685 square metres, quickly piqued the interest of buyers, but its listing came with no compelling need to sell.
The copper-capped roofed and sandstone skirted home, once nicknamed Aussie Stadium, has a floor space of 2200 square metres over four levels.
The six bedroom home, all with ensuites, features two swimming pools, and 75 metres of absolute waterfrontage.
He married Amber McDonald at the home in early 2016.
On turning 70, he decided spend a bit more time in London with easy access to Hasna, a luxury 73 metre yacht on the Mediterranean.
His superyacht was nominated in this year's Boat International Media World Superyacht Awards.
Symond previously lived in a Walsh Bay penthouse which sold for a record $16 million in 2006.
In 2016 the then Aussie Home Loans executive chairman John Symond suggested interest rates could remain low for a decade.
"I'm not saying it won't go up, but we won't see 6 to 7% interest rates for a decade plus," he suggested.
This article first appeared in The Daily Telegraph,
