THE PROPERTY OBSERVER INSIGHT
Former NBN boss Mike Quigley's $3.85 million Hyde Park, Sydney CBD retirement bolthole sans imminent NBN rollout
Mike Quigley, the departing boss of the federal government's national broadband network, has a new Sydney CBD home after selling his Mosman mansion.
Its a three bedroom, three bathroom apartment in the recently completed complex, The Residence overlooking Sydney's Hyde Park.
It sits on the Darlinghurst border, so he won't be getting the NBN anytime soon as the rollout isn't scheduled anytime over the next three years. The inner city locals aren't happy with Richard Ackland's postcode2011 leading the bleating.
Nor does Mosman have the rollout anytime soon.
Kallista, his Federation Mosman home, sold for $3.555 million through Belle agent Sally Navra-Osborne last September.
It was less than Quigley's $3.6 million purchase with his wife, Vicki, for the five-bedroom Mosman property in 2007.
They then spent $300,000 plus in renovations.
Title Tattle wrote on their Mosman sale that the Quigleys were downsizing to an undisclosed city apartment while keeping their south coast retreat, a 1.2-hectare Berry district property that cost $2,095,000 in 2010. Bundewallah isn't scheduled to get the NBN rollout until at least 2016.
The title documents and realestate.com.au indicate the apartment was bought last August but seemingly with delayed settlement terms.
It was sold by the developer syndicate, AMP Capital Investors, the Galileo Group and Cbus Property.
The bulk of the initial off-the-plan sales secured by early 2009 were through Laing Real Estate and Christie's International and Pagden Real Estate who were later joined by CBRE in the marketing mix.
There are now four left for sale.
The $350 million project was a 24-level block on College Street with 88 apartments.