Cannes Lions Festival duo purchase on Newport waterfront

Adman Terry Savage, the recently departed long-time chairman of the Cannes Lions Festival of Creativity, has bought at Newport.

Savage and his partner Cheryl Wannell, who is the CEO of the festival, have paid $3.85 million for a brand new home on Pittwater.

The couple sold their luxury six bedroom Bayview home for $5.75 million. 

Their new purchase, constructed by a local master builder, spans three levels and has five bedrooms, four bathrooms and a study.

It sits in landscaped gardens with established plantings that run down to the water where there's a boatshed, slipway and deep water pontoon.

LJ Hooker Mona Vale agent Josephine Cowling sold the home.

Savage has been associated with Cannes Lions, formerly known as the international advertising festival, for over three decades.

He became the CEO in 2003 after starting as the festivals Australian representative. He became the chairman soon after and was previously the executive chairman of cinema advertising firm Val Morgan.

This article was first published in the Sunday Telegraph.