Former Channel Nine boss David Gyngell finishes North Bondi reno

Former Channel Nine boss David Gyngell and his wife, the TV presenter, Leila McKinnon have finished the renovation of their North Bondi investment apartment.

It's been undertaken with the help of Gyngell's sister, the interior stylist Briony Fitzgerald since the couple's recent $1,675,000 purchase.

They are now seeking a $1,700 a week Ramsgate Avenue tenant for the three bedroom art deco apartment.

Raine & Horne Double Bay agent Tom Clinton is marketing the rental apartment that would reflect a healthy yield comfortably over five percent.

The suburb's median three bedroom rental sits at $1265 according to realestate.com.au.

Gyngell fought off stiff competition for the apartment, with 120 inspections in the lead up to the auction which saw 14 contracts handed out.

The buyers were attracted by its size, high ceilings, northerly aspect and the fact there are no shared walls with other apartments.

“Between 70 to 80 square metres is normal in the Bondi area, this one is 114 square metres,” Ric Serrao, the Raine & Horne Double Bay selling agent said.

With Gyngell bidding in shorts and tee shirt, there were five bidders on the day, the first time the first floor apartment had traded in four generations.

The apartment had been passed down through the Goldberg family who had built the block of flats in 1938.

Gyngell and McKinnon are based at Dover Heights, which McKinnon thinks of it as "north North Bondi."

The couple, who married at Byron Bay in 2006, spend much of their time too in the Byron Bay district where they have substantial property investments.

Gyngell, the son of the late former Channel Nine boss, Bruce Gyngell and interior designer mother, Ann, had business links to Bondi going back to the late 1980s when he was selling beachwear and surfing equipment.

This article first appeared in the Sunday Telegraph.