Former Channel Nine CEO David Gyngell has ‘successfully flipped’ his multimillion Coolangatta apartment.
The businessman, 58, purchased it for $4.2million in 2021 and secured a tidy profit as it was sold for $5.1million in a ‘wipe-out auction win’, according to realestate.com.
The Rainbow Bay apartment enjoys panoramic views of the Gold Coast, northern NSW beaches and the Tweed hinterland.
The luxury full-floor property boasts lavish amenities including a private foyer, a study and a smart home system.
The apartment complex as a whole also enjoys some luxury touches including a heated swimming pool, steam room and a restaurant.
Former Channel Nine CEO David Gyngell (pictured in 2015) has ‘successfully flipped’ his multimillion Coolangatta apartment
The businessman, 58, purchased it for $4.2million in 2021 and secured a tidy profit as it was sold for $5.1million in a ‘wipe-out auction win’, according to realestate.com
‘Step into a realm of coastal elegance with this captivating beachfront apartment, accessible via a lift entrance that leads you directly into a full-floor sanctuary,’ the listing read.
‘Instantly greeted by the vast expanse of the Pacific Ocean, you’ll feel a sense of tranquility enveloping you, beckoning you to explore further.’
Mr Gyngell famously quit running Channel 9 in 2005 but returned to the network in September 2007.
He then served as the CEO of the Nine Network for eight years from 2007 until his resignation in 2015.
The luxury full-floor property boasts lavish amenities including a private foyer, a study and a smart home system
The Rainbow Bay apartment enjoys panoramic views of the Gold Coast, northern NSW beaches and the Tweed hinterland
He is married to Channel Nine reporter Leila McKinnon and the couple share two children – son Ted, nine, and daughter Gwendolen, seven.
But he is also known for an incident which saw him and billionaire best mate James Packer, 56, famously start fighting in a Bondi street in May 2014 after falling out.
It created an enormous furore at the time, which went far beyond the ritzy Bondi beach neighbourhood where the men threw punches at each other.
Extraordinary photographs showed the moment two of Australia’s richest men – both media giants in Australia at the time – started fighting in the street.
David is married to Channel Nine reporter Leila McKinnon and the couple share two children – son Ted, nine, and daughter Gwendolen, seven (all pictured)
They had been friends since childhood, and Mr Gyngell was best man at Mr Packer’s wedding to his second wife Erica Baxter – a marriage that ended in 2013.
At the time, Mr Packer owned Channel Nine while Mr Gyngell served as the chief executive.
Mr Gyngell apparently confronted his friend outside his Sydney home on that fateful day, and the pair began rowing.
They had to be separated by bodyguards, and were later fined $500 each for ‘offensive behaviour’.
But Mr Gyngell (pictured in 2015) is also known for an incident which saw him and billionaire best mate James Packer, 56, famously start fighting in a Bondi street in May 2014
It created an enormous furore at the time, which went far beyond the ritzy Bondi beach neighbourhood where the men threw punches at each other (Mr Packer is pictured in 2014)
Mr Gyngell accepted responsibility for the fight and pledged to co-operate with the police investigation into the incident.
‘He fully accepts that he was the instigator of the incident,’ a spokesman said. ‘Clearly, had he not turned up at Packer’s premises in an angry mood then the confrontation would never have occurred.’
Despite their frustrations with each other spilling over into violence, the pair soon told friends they regretted the fight and insisted they would remain on good terms.
Mr Packer, 56, sold out of Channel Nine between 2006 and 2008 to concentrate on casinos and tourism.
