Phil Chronican snares Sotheby's special back in Sydney

NAB board director Phil Chronican has bought the Georgian-style Neutral Bay residence of property investor Denis Ellerker.

The Kurraba Point home sold for $7.7 million to Chronican who owns in Melbourne's Armadale after selling in The Residence, Darlinghurst.

The 1920s Neutral Bay home, with makeover by Michael Suttor and Michael Love, sold through Belle Property’s Tim Foote and Sotheby’s Michael Pallier.

Bought by Ellerker in 1980 for $397,500, it came with an initial asking of more than $9 million last October.

The Shellcove Road home, with tennis court, has gardens by Tony Ward Landscape Design on its 1460 sqm holding. 

Ellerker has bought in Darling Point, paying $11 million for the arts and crafts-style penthouse in the Babworth Estate sold by the widow of the late Macquarie Bank co-founder David Clarke.