PHOTO: David Droga used to walk the Bondi to Bronte track past Lang Syne as a teenager. Louie Douvis
When David Droga was 18, he occasionally found himself crashing on the couch at his brothers’ shared house in Tamarama, a beachside suburb in Sydney’s eastern region. During those days, he would pass by the Lang Syne property, a sprawling 1100-square-meter estate overlooking the ocean.
“I distinctly remember thinking, ‘that’s got to be the most exquisite piece of land in Australia.’ I was utterly fixated on it while growing up,” Droga shared with The Australian Financial Review. “Not that I’ve been ruminating about it every year since then.”
Then, last year, an opportunity presented itself as the property came onto the market. David Droga, who now resides in New York and is a leading figure in the global creative advertising industry, heading Accenture Song, a digital and creative agency under the global consulting firm Accenture, decided to make a move. Song reported a remarkable $US18 billion ($28 billion) in revenue in the last calendar year.
The property occupies a 1100-square-metre headland block.
Droga is renowned for his impressive collection of Cannes Lions, the advertising world’s most prestigious awards, and has been involved in iconic ad campaigns like Barack Obama’s “The Great Schlep,” Tourism Australia’s fake Dundee trailer, and Levi’s “The Greatest Story Ever Worn.”
He expressed his desire for a connection to his Australian roots, stating, “I was thinking, I’m Australian, right? I’m incredibly fortunate to have cherished places in America, both in the city and on the farm. But it feels strange to be Australian and still have to rent a place every time I come here, especially for Christmas with my family.”
So, at 55 years old, he acquired the property, setting a new record for Australia’s coastal real estate market with a purchase price of $45 million.
Droga quickly became known as the buyer, even though he had initially attempted to keep the process discreet. “My wife is still a bit upset about that,” he quips, “not because I bought the house but because now everyone in Australia knows.”
The brick California bungalow on the estate dates back to the 1920s, and while it’s likely to be demolished and rebuilt in the future, Droga has yet to make a final decision. He expresses gratitude for having the opportunity to own something truly special and hopes it will be a generational asset. “Whatever we decide to do with it, I hope it’ll be done with care, good taste, and respect for its unique location,” he emphasizes.
Droga’s journey in the advertising world began in the mailroom of the former advertising agency Grey, where he quickly rose to the position of Executive Creative Director at just 22.
In 2006, he established his own agency, Droga5, which Accenture acquired in 2019 in a deal valued at $US475 million. Since then, he has served as the CEO and Creative Chairman of Accenture Song, formerly known as Accenture Interactive.
Despite his notable success, the man often referred to as the “world’s top creative director” has no immediate plans to return to live in Australia. He clarifies, “I didn’t purchase it with the intention of moving back. I acquired it to have a place in Australia that, hopefully, will endure for generations. When I eventually retire, I will unquestionably spend several months here every year. I am certain of that because of who I am.”
He concludes, “Is there a more idyllic piece of land on the Sydney coast? I don’t think so. The opportunity to possess something so seamlessly integrated with breathtaking views and the beauty of nature is truly a stroke of luck. I’m very fortunate.”
SOURCE: AFR