Ron Medich shrugs off recent financial woes to buy $4.9 million pad in Milsons Point

Property developer Ron Medich has shrugged off his recent financial woes to buy a harbourside sub-penthouse in Milsons Point for $4.91 million.

Medich’s three-bedroom purchase in the boutique Cavill building comes as his legal team prepares for a retrial early next year over his alleged involvement in the murder of businessman Michael McGurk.

Medich was one of five registered bidders for the apartment when it went to auction through McGrath’s Nigel Mukhi at which three active bidders forced the sale price up from the $4.5 million opening bid to sell for $400,000 more than the guide.

The result smashed the building record for the Mirvac development by more than $1 million.

Mukhi declined to comment on the sale, and Medich’s purchase was confirmed by settlement records this week.



The apartment was previously owned by John and Leone Westneat, who are moving to Queensland. 

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Medich returns to court in January to stand trial for the alleged murder of his former business partner. He has pleaded not guilty to the murder of Michael McGurk, who was shot outside his Cremorne home in 2009.

Medich has also pleaded not guilty to the subsequent intimidation of McGurk’s widow Kimberley.

Meanwhile, Medich and his brother Roy entered negotiations in July to sell their 344-hectare land holding at Badgerys Creek to companies linked to Chinese billionaire Shen Yuxing. That deal is rumoured to be worth more than $500 million.

Steve Bowden buys $8.25 million retreat

Former rugby league player-turn-hotelier Steve Bowden has emerged as the $8.25 million buyer of the Southern Highlands trophy Wattle Ridge.

The 258-hectare holding in Nattai was sold by publisher Matt Handbury and his wife Clare Strang, ending a year-long sales campaign through Michael Pallier of Sotheby’s International.

A caveat on the title confirmed Bowden’s purchase amid speculation he and his wife Louise are planning to retire to the American Georgian-style homestead.

​Bowden, who played for the Newtown Jets from 1978 to 1982, sold the Hurstville Ritz Hotel and Cabramatta Hotel earlier this month for a total of $90 million.