{"id":45060,"date":"2023-10-24T08:12:26","date_gmt":"2023-10-23T19:12:26","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=45060"},"modified":"2023-10-24T08:12:26","modified_gmt":"2023-10-23T19:12:26","slug":"what-prompted-advertising-mogul-david-droga-to-acquire-australias-finest-plot-of-land","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/what-prompted-advertising-mogul-david-droga-to-acquire-australias-finest-plot-of-land\/","title":{"rendered":"What prompted advertising mogul David Droga to acquire &#8216;Australia&#8217;s finest plot of land&#8217;"},"content":{"rendered":"<p><strong>PHOTO: David Droga used to walk the Bondi to Bronte track past Lang Syne as a teenager.\u00a0\u00a0<cite class=\"_23SOU\">Louie Douvis<\/cite><\/strong><\/p>\n<p>When David Droga was 18, he occasionally found himself crashing on the couch at his brothers&#8217; shared house in Tamarama, a beachside suburb in Sydney&#8217;s eastern region. During those days, he would pass by the Lang Syne property, a sprawling 1100-square-meter estate overlooking the ocean.<\/p>\n<p>&#8220;I distinctly remember thinking, &#8216;that&#8217;s got to be the most exquisite piece of land in Australia.&#8217; I was utterly fixated on it while growing up,&#8221; Droga shared with The Australian Financial Review. &#8220;Not that I&#8217;ve been ruminating about it every year since then.&#8221;<\/p>\n<p>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 ($28 billion) in revenue in the last calendar year.<\/p>\n<picture><img fetchpriority=\"high\" decoding=\"async\" class=\"_1srKI\" src=\"https:\/\/static.ffx.io\/images\/$zoom_0.332%2C$multiply_3%2C$ratio_1.5%2C$width_756%2C$x_62%2C$y_0\/t_crop_custom\/c_scale%2Cw_620%2Cq_88%2Cf_auto\/b5b56f63d3696796eb8fcba9243488af16637f11\" sizes=\"(max-width: 767px) 382px\" srcset=\"https:\/\/static.ffx.io\/images\/$zoom_0.332%2C$multiply_3%2C$ratio_1.5%2C$width_756%2C$x_62%2C$y_0\/t_crop_custom\/c_scale%2Cw_382%2Cq_88%2Cf_auto\/b5b56f63d3696796eb8fcba9243488af16637f11, https:\/\/static.ffx.io\/images\/$zoom_0.332%2C$multiply_3%2C$ratio_1.5%2C$width_756%2C$x_62%2C$y_0\/t_crop_custom\/c_scale%2Cw_764%2Cq_52%2Cf_auto\/b5b56f63d3696796eb8fcba9243488af16637f11 2x\" alt=\"\" width=\"382\" height=\"255\" data-testid=\"Image-image\" data-id=\"b5b56f63d3696796eb8fcba9243488af16637f11\" data-pb-im-config=\"{&quot;aspectRatio&quot;:1.5,&quot;type&quot;:&quot;landscape3x2&quot;,&quot;width&quot;:382,&quot;urls&quot;:[&quot;https:\/\/static.ffx.io\/images\/$zoom_0.332%2C$multiply_3%2C$ratio_1.5%2C$width_756%2C$x_62%2C$y_0\/t_crop_custom\/c_scale%2Cw_382%2Cq_88%2Cf_auto\/b5b56f63d3696796eb8fcba9243488af16637f11&quot;,&quot; https:\/\/static.ffx.io\/images\/$zoom_0.332%2C$multiply_3%2C$ratio_1.5%2C$width_756%2C$x_62%2C$y_0\/t_crop_custom\/c_scale%2Cw_764%2Cq_52%2Cf_auto\/b5b56f63d3696796eb8fcba9243488af16637f11 2x&quot;]}\" \/><\/picture>\n<p><em><strong>The property occupies a 1100-square-metre headland block.\u00a0\u00a0<\/strong><\/em><\/p>\n<p>Droga is renowned for his impressive collection of Cannes Lions, the advertising world&#8217;s most prestigious awards, and has been involved in iconic ad campaigns like Barack Obama&#8217;s &#8220;The Great Schlep,&#8221; Tourism Australia&#8217;s fake Dundee trailer, and Levi&#8217;s &#8220;The Greatest Story Ever Worn.&#8221;<\/p>\n<p>He expressed his desire for a connection to his Australian roots, stating, &#8220;I was thinking, I&#8217;m Australian, right? I&#8217;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.&#8221;<\/p>\n<p>So, at 55 years old, he acquired the property, setting a new record for Australia&#8217;s coastal real estate market with a purchase price of $45 million.<\/p>\n<p>Droga quickly became known as the buyer, even though he had initially attempted to keep the process discreet. &#8220;My wife is still a bit upset about that,&#8221; he quips, &#8220;not because I bought the house but because now everyone in Australia knows.&#8221;<\/p>\n<p>The brick California bungalow on the estate dates back to the 1920s, and while it&#8217;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. &#8220;Whatever we decide to do with it, I hope it&#8217;ll be done with care, good taste, and respect for its unique location,&#8221; he emphasizes.<\/p>\n<p>Droga&#8217;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.<\/p>\n<p>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.<\/p>\n<p>Despite his notable success, the man often referred to as the &#8220;world&#8217;s top creative director&#8221; has no immediate plans to return to live in Australia. He clarifies, &#8220;I didn&#8217;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.&#8221;<\/p>\n<p>He concludes, &#8220;Is there a more idyllic piece of land on the Sydney coast? I don&#8217;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&#8217;m very fortunate.&#8221;<\/p>\n<p>SOURCE: <a href=\"https:\/\/www.afr.com\/property\/residential\/why-adman-david-droga-bought-the-best-piece-of-land-in-australia-20231020-p5edu7\">AFR<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: David Droga used to walk the Bondi to Bronte<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/what-prompted-advertising-mogul-david-droga-to-acquire-australias-finest-plot-of-land\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":45061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478128092,478128083,478128089,478128095,478128081,478125909,478104204,478128084,478121001,478128087,478128082,478128091,478128080,478128090,478128088,478128085,478128086,478128094,478128093,478106014],"class_list":["entry","author-data123nz","post-45060","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-accenture-interactive","tag-accenture-song","tag-advertising-agency-grey","tag-australias-coastal-real-estate-market","tag-australias-finest-land","tag-breathtaking-views","tag-california-bungalow","tag-cannes-lions","tag-ceo","tag-coastal-real-estate-market","tag-creative-advertising-industry","tag-creative-chairman","tag-david-droga","tag-droga5","tag-generational-asset","tag-iconic-ad-campaigns","tag-lang-syne-property","tag-natural-beauty","tag-sydney-coast","tag-tamarama"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - 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