Singo sells famed Paddington complex for more than $30m
Fashion designer and Financial Review Rich Women Lister Annie Cannon-Brookes, who separated from her husband, Atlassian billionaire Mike Cannon-Brookes last year, has snapped up John Singleton’s The Bonython office complex in Paddington for more than $30 million.
The secluded office precinct hidden behind rows of terrace housing in the inner Sydney suburb had been owned for 50 years by Mr Singleton, who turned the 1890s-built former art gallery into the headquarters of his SPASM ad agency.
During its heyday, The Bonython – or Paddington Court as it was previously known – was famed for its Friday night parties, which some of the agency’s biggest clients would attend.
The Bonython office precinct is full of lush tropical plants.
“The legend was that most of our business was because everyone wanted an invitation to our parties on Friday night,” Mr Singleton said.
“And there is a lot of truth in that because it was a who’s who of Kerry Packer, Rupert Murdoch, Gerry Harvey and Jack Cowin [who would come along].”
Mr Singleton put The Bonython up for sale in late February, appointing Ray White agents Ben Vaughan and Randall Kemp to market it. It includes 24 executive office suites and a long-running licensed open-air café, which spills out onto a lush, tree-filled atrium.
Notable past tenants include Microsoft, Ninemsn, Seven and Mojo Advertising. It is currently occupied by a mix of creative, financial, IT, legal and talent acquisition companies.
Mr Singleton confirmed that he had sold The Bonython to Cannon-Brookes Collective, and specifically to Annie Cannon-Brookes.
“I’ve known Annie for over 20 years. It’s great to be passing custodianship of the best office in the world to a friend,” he said.
“I hope Annie keeps the café open, so I can pop in for a cuppa.”
The Bonython stands on a 1452-square-metre site at 52 Victoria Street and includes 1251 square metres of net lettable area and 13 covered car-park spaces. The two main entrances to the property are an unassuming archway at 52 Victoria Street and a laneway at 120B Underwood Street.
Originally built as a factory in the 1890s, it was converted into an art gallery in 1967 by art dealer Kym Bonython, who exhibited works by the likes of Brett Whiteley, Ken Done and Sidney Nolan.
In 1976, Mr Singleton bought it with fellow advertising guru Duncan McAllan for $300,000.
John Singleton at The Bonython in February.
The incoming owner is ranked as Australia’s third-richest woman on the Financial Review Rich Women List with a $13.5 billion fortune.
Mr Singleton, who owns an extensive property portfolio on the NSW Central Coast, was worth $820 million, according to the 2023 Financial Review Rich List.
An Atlassian spokeswoman said: “We don’t have anything to share at this time.”
It is understood Ms Cannon-Brookes will establish a family office at The Bonython and retain the complex as an income-earning investment.
She separated from Mike Cannon-Brookes in July last year. The couple have been married since 2010.
They own an extensive property portfolio including the 1.1-hectare Fairwater estate, the home of the late Lady Mary Fairfax, which they acquired in 2018 for $100 million, and a $50 million portfolio of trophy rural mansions in the NSW Southern Highlands.
In 2022, the couple acquired Dunk Island on Queensland’s Great Barrier Reef for just under $24 million.
A spokeswoman at the time said Ms Cannon-Brookes was the only person involved in the purchase of Dunk Island and that “Mike has nothing to do with it”.
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