Land and Environment cCourt approves Sanjeev Gupta’s reno plans for Potts Point mansion
Billionaire steel tsar Sanjeev Gupta and his wife have won a court battle to start renovations at their historical grand clifftop mansion on Sydney Harbour.
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Besieged billionaire steel tsar Sanjeev Gupta and wife Nicola have won the battle to undertake renovations at their grand clifftop Potts Point mansion Bomera, which overlooks the harbour.
The Land & Environment Court judgment ruled the upgrade could proceed, but only after amendments had been presented by Gupta at a conciliation conference.
The original ambitious plans, which included a basement garage with a Batman and Robin-style vehicle access tunnel via Cowper Wharf Rd, were costed at $10.04m.
His less controversial plans included a covered pool, a sauna, spa, yoga room, cinema and even a whisky room.
The Luigi Rosselli-designed plans, which were opposed by many residents in the neighbouring Gateway complex, had been submitted last year to Sydney City Council for the periodically updated 1850s home.
It was 2017 when Gupta arrived in Australia from the UK, feted as a white knight when acquiring the then-beleaguered Whyalla steelworks in South Australia.
His recently struggling debt-laden global business has not been helped by having blast furnace reliability issues.
Whyalla MP Eddie Hughes slammed the GFG Alliance boss in September for his luxury Sydney lifestyle while not paying local contractors expeditiously.
The historic Wylde St, Potts Point home cost $34m in 2019.
The couple recently spent $12.5m on an apartment at the nearby Woolloomooloo Finger Wharf, which will be a handy bolthole should the renovations now get under way.
The apartment was bought from retired broadcaster John Laws, along with another $1m spent on a marina berth because apparently Gupta is bringing his yacht from Europe.
Bomera was bought by a corporate trust fronted by Aremob Pty Ltd (Bomera spelt backwards), currently directed by Ande + Co lawyer Nitij Pal, having initially been directed by Bell Potter stockbroker Les Owen.
Pal recently set up a company called Aremob Funding.
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