The four-bedroom pavilion style home, metres from the beach, had been on the market since late 2013 following Mr Ritchie and wife Leigh’s decision to sell after owning the property nearly 18 years.

Selling agent Lachlan Elder of LJ Hooker-Mona Vale could not confirm the price, but said it was in the region of $8 million, making it one of the suburb’s highest residential sales to date.

“There’s nothing comparable to it in the area,” Mr Elder said. “The property has an acre of absolute beachfront in a truly breathtaking spot along one of Sydney’s most spectacular beaches.”

Mr Ritchie purchased the land off two titles — the first in 1996 for $850,000, the second in 1997 for $1.18 million — which combined to form a 2056sq m parcel of land.

The beach house was built from stone, glass and timber and includes a main pavilion and an adjacent building with additional garage, living room and kitchen.

The property was sold to offshore buyers who intend to maintain the property’s use as a holiday home.

Mr Ritchie was the first employee of McDonalds Australia and was instrumental in the company’s early Australian expansion over the 1970s and 1980s.

He later played a leading role in the fast food giant’s foray into markets such as New Zealand, Malaysia and Hong Kong, eventually becoming McDonald’s Australia chief executive and, subsequently, non-executive chairman.

After departing the company in 2001, he went on to hold executive roles in Mortgage Choice and the Seven Network.