The MP held many meetings as a minister over plans for a potential multibillion-dollar redevelopment in Newcastle that could have substantially improved the value of land held by his family.
Up to 12 independent and Greens MPs are set to be sworn in to the NSW Parliament, with one returning MP hailing the crossbench as "historically large".
Liberal Party members watched on in disbelief as the party lost heartland seats from the northern beaches to the south coast, and across western Sydney.