Seven boss Tim Worner trades up to $9.5m digs

Seven Network chief executive Tim Worner and his wife, Katrina, have splashed out an impressive $9.5 million to buy an oceanfront reserve residence across the road from their Manly home.

It was an off-market deal by the Worners to secure the designer home of Ross Lane, whose family founded the Oroton fashion group. Lane, who sits on the Oroton board, had paid $8 million for the idyllically positioned house in 2010.

Records show it is one of the Catholic Church’s many leasehold properties in the Fairy Bower neighbourhood. The lease is due for renewal in September.

Sources who tipped off Title Deeds to the Worners’ high-end purchase were unaware who negotiated the deal.

However, a source said McGrath’s Jake Rowe was known to be showing the oceanfront reserve property on the quiet.

Rowe refused to confirm or deny the reports.

Worner’s success as one of the driving forces behind Seven’s rise to become the No. 1 free-to-air network led to his appointment as chief executive of Seven West Media three years ago. The role expanded his responsibilities to include not only Network Seven, but also Pacific Magazines, Yahoo!7 and The West Australian newspaper. He was elevated to the group’s board last year.

The Worners are long-time Fairy Bower residents, having purchased their home on the high side of Bower Street in 2000 for $1,035,000.

Title Deeds expects to see the Worners’ former home hit the market soon.