Lendlease chief banks $13m from home
Lendlease chief executive officer Tony Lombardo and his wife, lawyer, May Chen, have sold Elizabeth Bay’s historic Keadue.
Despite needing seven months to seal – and a renovation – the vendors didn’t discount 84 Elizabeth Bay Road, achieving $13 million.
This was the guide the pair attached to it after an auction last year yielded no bids.
It was however later amended down – to $11.5m.
The Agency’s Ben Collier brokered the deal.
Mr Lombardo replaced Steve McCann as Lendlease leader in early 2021 (story continues below).
Value added
Developed in 1892, the Italianate and Arts & Crafts Keadue, with six bedrooms, four bathrooms and a six car garage, occupies a 510 sqm plot near Rushcutters Bay.
Mr Lombardo and Ms Chen paid $8.5m in 2021.
A permit for a 150 sqm extension was then obtained; penned by William Smart, this would add a gym, cinema, rooftop garden and pool. Elizabeth Bay is a kilometre east of Sydney’s CBD.
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