James Symond's Packer mansion rebuild blows out by more than $10million trends now
An ambitious rebuild of an iconic Sydney property overlooking the harbour has bogged down and reportedly blown out in cost by more $10million.
Former Aussie Home Loans CEO James Symond, who is nephew to the company's well-known founder John Symond, has been building his dream home on a property formerly owned by the Packer family for more than two and a half years.
In mid 2020 Mr Symond lodged his plans to redevelop the crumbling main residence on the 1,400 square metre property into a two-storey luxury abode at an estimated cost of $9.5million.
However, The Australian reports costs have blown out past $20million as a huge industrial crane dominates the skyline over the unfinished works.
When Daily Mail visited the property it resembled a public works site and there was the clamour of construction noise.
The 'Girrahween' property in the ritzy Sydney suburb of Bellevue Hill belonged to the Packer family for almost 50 years
An artist's impression of the house being built by Mr Symond as outlined in plans submitted to council in June 2020
A huge crane towers over the rebuild of Bellevue Hill property, now owned by former Aussie Home Loans CEO James Symond.
There was a crew of at least 10 builders in high-vis and hard hats busy at work.
But perhaps in an example of some of the most understanding neighbours in Australia, a lady living next door to the construction site said she was resigned to the noise and disruption.
'It's been going on for two-and-a-half years and it will definitely take another two, ' she said.
'I did a kitchen and it took 14 months!'
The woman, who did not want to be named, said she wasn't surprised by the delays.
'They have had Covid, the rain and it's a big building, so I get why it's taken so long,' she said.
'There's nothing I can do, really. I've just got to put up with it and suck it up.
'The builders have been really good. I asked them to put boarding up and they did to give us more privacy and to stop the dust. My shutters were black with dust.
'But there's no point complaining - that's just living next to a building site.
'Every second house in this street is being renovated — across the road they're turning one house into two and there's cranes everywhere.'
Heavy machinery was at work on the site causing a great deal of noise, which a neighbour said they were resigned to
Work on the rebuild of the house on the former Packer property has been going on for two and a half years
Another lady living across the street said: 'They are doing what they have to do
