Former PM pays $1.65m for Sydney investment property

A courtyard at the Elizabeth Bay complex ex-PM Paul Keating has just bought into

Former Labor Prime Minister Paul Keating (pictured) has paid $1.625 million for an investment property in Sydney’s exclusive Elizabeth Bay.

The one-bedroom unit on Billyard Avenue is in a pet friendly complex with just 11 dwellings, on a site with established gardens and a pool.

The deal, reported by propertyobserver, is the latest Elizabeth Bay property purchase for the ex-politician, who according to reports, occupied a family home in the suburb and also retains an apartment investment in Oslow Avenue.

Keating’s latest dwelling is opposite Lindsay Fox’s landmark waterfront Boomerang holding, which it was reported last year was quietly on the market for sale seeking offers of about $60 million.

Fox’s Spanish Mission style mansion was temporarily the most expensive home sold in the country when it exchanged hands for $20.7 million in 2002. Fox paid a reported $20 million for the home under his daughter’s name in 2005.

Other Elizabeth Bay residents are said to include actor David Wenham and celebrity chef Kylie Kwong.

Earlier this year locals defeated contentious Roads and Maritime Services plans to redevelop Elizabeth Bay Marina which would have, amongst other things, increased berth sizes to allow for larger boats.

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Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of