David Gyngell and John Cornell purchase one other property in Brunswick Heads for $3.4m

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Nine Full Year Result - David Gyngell

David Gyngell and John Cornell are constructing a big property portfolio in Brunswick Heads. Supply: Britta Campion


Byron Bay hinterland primarily based David Gyngell and his mate John “Strop” Cornell have continued to ­develop their Brunswick Heads property ­portfolio.

It’s targeted across the basic Forties Lodge Brunswick, which the pair have co-owned since 2013.

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The pair have owned the Lodge Brunswick since 2013.


Over the previous 4 years they’ve spent a mixed $9.4 million on properties surrounding the pub. And their newest $3.4 million purchase, bought quietly off-market final month, sees them take possession of one other industrial constructing. It’s leased to Centrelink who’ve the lease till 2022, with three-year plus renewal choices. Presently paying $175,000 each year, it provides Gyngell and Cornell a pleasant yield of 5 per cent plus.

It’s subsequent door to the duo’s first ­expansionary buy they purchased for $3 million 4 years in the past.

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Paul Hogan and John ‘Strop’ Cornell at Lodge Brunswick.


Final yr they spent $3 million on a mixed-use constructing overlooking Simpsons Creek.

Gyngell spent $5.25 million in 2013 to purchase a half share of the pub which Cornell purchased the freehold in 1990 from Austotel for $2.1 million in 1990.

It’s 5 years in the past this November since Gyngell walked away from being boss of Channel 9.

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