Ken Elphick loses possession of Cronulla beachfront
The entreprenurial former sports promoter and administrator Ken Elphick has lost possession of his four bedroom Cronulla abode.
The luxury beachfront on Gunnamatta Bay has been listed for November 26 auction through Mark Wigley and Corey Bell at Cronulla Real Estate.
Based on recent sales around the popular Shire strip, the home is expected to fetch $5.5 million plus.
It has been Ken Elphick's home with wife Vicki for three years until recent eviction proceedings after the fracturing of a Queensland property development arrangement.
The NSW Supreme Court's Justice Button noted there had been "a long and regrettably tortured history" in the litigation between Nichols Construction Pty Limited and the Elphicks.
"It seems that, regrettably, the development was not crowned with success, and litigation has arisen from it," his honour noted.
The Laidley development suffered complications, allegedly due to earthwork failings on the part of subcontractors retained by Nichols Constructions, which in turn impeded the sale of the house and land lots.
However Nichols Constructions had a $4.2 million two year mortgage over the property with Ken Elphick as guarantor on its 2013 purchase.
"The contention of Nichols Construction is that no money whatsoever was ever paid pursuant to that mortgage," Justice Button noted.
The initial default judgment was entered in February 2015.
When the Taloombi Street home was bought for $4 million in 2013, Elphick thought his luck had finally turned.
His house purchase marked his family's return home to Gunnamatta Bay as in the late 1980s he sold for then record of $1.3 million a home across the bay.
In the interim he had hit headlines after his tenure at the NSW Rugby Union ended in a jail sentence.
The former NSW Rugby Union boss, who grew up in Mascot, spent almost three years in jail in the late 1990s for a $600,000 fraud case involving 25 charges.
The charges related to the building of Concord Oval as the code's homeground in the mid-1980s.
This article appeared in the Saturday Daily Telegraph.