Singo’s ‘heroic home’ sold for $30m
Singo has sold his ‘heroic home’ of Bonython.
Bonython, the hidden office compound of ad man John ‘Singo’ Singleton has sold for about $30m to Annie Cannon-Brookes, fashion designer and ex-wife of Atlassian’s Mike Cannon-Brookes.
Regular passers-by on Victoria St may never have noticed that a 1452sq m office precinct of 24 different tenancies and 13 car spots sits discretely behind rows of traditional terraces.
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During Singleton’s 50-year ownership of the former art gallery, the space has housed his Spasm ad agency as well as other businesses such as Microsoft and Ninemsn.
Paddo vibes.
Randall Kemp and Ben Vaughan of Ray White Paddington and Woollahra sealed the deal on March 20 via an expressions of interest campaign, but were tight-lipped on the details.
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“We were guiding $28m and it was sold for considerably more than that. In the end it came down to three interested parties,” Kemp says.
The property was bought in 1976 to accommodate the ad agency SPASM (Singleton Palmer and Strauss McAllan), which traded at the premises until the sale of the business. The property then became the creative hub of the advertising agency Mojo.
Singo had owned the property for almost 50 years.
The four-building complex runs between 120B Underwood St and 54 Victoria St.
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Singleton and fellow adman Duncan McAllan paid $300,000 through their joint venture vehicle Ringo and The Baron Pty Ltd to art gallery owner Kym Bonython, who was moving back to Adelaide.
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John Singleton has offloaded one of his favourite properties.
At 1022sq m, the Bonython Galleries was the then largest commercial gallery in Australia,
Michael and Annie Cannon-Brookes at the GQ Men Of The Year Awards held at the Hyatt Regency Grand Ballroom in Sydney in 2019. Picture: Christian Gilles
with The Bulletin suggesting back then that it was “heroically proportioned”.
It had previously been a bottle cleaning plant and bakery.
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