Syd Fischer sells $8 million Gazebo, Elizabeth Bay apartment

Syd Fischer's has secured $8 million for his remaining whole floor Gazebo, Elizabeth Bay high-rise apartment.

It's the 16th floor in the former 201-room 1970s hotel. The apartment has been bought by the vice president of the Brewers for Europe, Anthony Froggatt, who previously served as chief at Heineken UK Limited.

The 18-storey Elizabeth Bay Road tower, nicknamed "the corncob", now has 61 apartments after a four-year conversion was completed in 2005.

The penthouse-style residence was meticulously crafted to create a state-of-the-art environment for living and entertaining with house-like proportions, high-end custom finishes, world-class facilities and triple parking. 

It had 350 square metres of living space with four bedrooms, three ensuites and a guest powder room.

Back in 2005 $8.25 million was spent on the 17th whole floor Gazebo apartment.

The 18th floor apartment, which is 296 square metres, sold at $7.75 million in 2006. It is currently available for lease at $4750 a week.

Built in 1968 by Fischer's Australian Development Corporation Group, the round tower is recognised by the Australian Institute of Architects as a significant building of the 20th century.