Tony Denny lists $40m worth of Central Coast development sites

Millionaire developer Tony Denny has listed six Central Coast development sites worth around $40 million.

Five sites in Terrigal, Gosford and Point Frederick have been DA approved for a range of residential and commercial buildings, while a site at West Gosford is in the design phase.

Lumiere in Point Frederick is ready for immediate commencement, with demolition already completed and a design that includes luxe features like terrace pools and a gym.

Computer generated design for the Azure site at 15 Kurrawyba Ave, Terrigal.

Richard Ellis, CEO of Denny’s Central Real, says that the business is taking a step back from multiple projects, and will now start focusing on one site at a time, while also shifting into development financing.

It wasrecently reported that Denny had purchased a $20 million mansion in Point Piper.

Ellis was quick to reassure that the wealthy businessman was not bailing on the coast.

Design plan for the Lumiere apartments in Point Frederick.

“Tony likes to take his yacht over to Point Piper for recreation, but he is staying in Killcare Heights and we just opened a new office for Central Real in Erina,” he says.

The development sites, listed with Jaimie Woodcock of McGrath and Sydney commercial firm Cushman and Wakefield were listed right before coronavirus lockdowns.

Ellis says that he thought the sites were less likely to sell in the current situation, but the company isn’t too concerned.

Denny at his old Gosford Classic Car Museum, which was closed last year after a dispute with the ATO. Picture: Mark Scott.

“If they sell, they sell, if they don’t then we will wait. We might decide to use one of the sites for future and we are still holding some land subdivisions,” he says.

Expressions of interest for the sites end April 23rd.

This article from the Central Coast Express Advocate originally appeared as “Tony Denny lists six Central Coast development sites worth $40 million”.