Hoyts boss Damian Keogh secures Sutherland Shire sale at weekend auction

The Hoyts boss Damian Keogh and wife, Maree, pocketed $3.9 million when their longtime Sutherland Shire family home went to auction last weekend.

They are downsizing to a four bedroom oceanfront apartment at Cronulla given all four of their children have now left school.

The Lilli Pilli home, purchased in 1997 for $800,000, had an extensive rebuild in 2002 making it five bedrooms plus study.

Listing agent Greg Gilbert had expectations in the high $3 millions. Bidding opened at $3 million with three parties competing. It was announced on the market at $3.7 million.

The home has views, palatial proportions, and functional family living, along with level lawns, and a basket ball pad. There's an in-ground pool and a cabana alfresco area on its double-width 1486 square metre block.

It was 2016 when they paid $2.85 million for the beachfront Tiana apartment.

Keogh retains a Quay West apartment in the Sydney CBD which he uses mid week while at work running the Hoyts Group.

Dubbed one of the best Australia's basketballers of all time, Keogh played over 400 games in the NBL and featured in three Olympic Games.

This article first appeared in The Sunday Telegraph.