Former treasurer Josh Frydenberg has conceded the seat of Kooyong following Saturday’s election.

Independent candidate Monique Ryan will now be the next MP for the Melbourne electorate.

In a statement on Monday, Mr Frydenberg said he had called Dr Ryan to concede the election.

“Today I rang Dr Monique Ryan to congratulate her on the election result in Kooyong and wished her well for the term ahead,” he said.

“It’s been an incredible privilege to have served as the local member for the last 12 years.”

In a statement shortly after, Dr Ryan thanked Mr Frydenberg and said it had been “an amazing journey” to win on Saturday.

“It’s been an amazing journey over the past few months, involving 2000 volunteers, 3000 donors, 4000 yard signs, 55 000 doors knocked, and thousands of supporters. This victory is as much for them as it is for me. I want to thank them all. We would not be here now without their amazing efforts,” she said.

She said her work had only just begun.

“Our team is preparing for the next step, helping ready me for entering parliament and immediately beginning work on our community’s priorities: Real and urgent action on climate change, a strong federal integrity commission, and equality, respect, and safety for women,” Dr Ryan said.

“I want to thank the people of Kooyong, and assure them that I have listened to their concerns – and will always continue to listen to and represent them, as their independent member for Kooyong.”

Mr Frydenberg was one of many high-profile Liberals to lose their safe, blue-ribbon seats to the so-called teal independent candidates on Saturday. He said he had given his job as an MP his all.

“Inspired by the wonderful local people I have met, among them those who volunteer in our charities and sporting clubs and work in our small businesses and schools,” he said.

“We have achieved so much together. It is their contribution that makes our community great.”

Mr Frydenberg said he was looking forward to spending more time with his family.

His announcement followed a formal concession by the Liberal Party’s Dave Sharma that his blue-ribbon seat of Wentworth had been won by another teal independent, Allegra Spender.

Mr Sharma issued a statement on Monday morning confirming he had spoken to Ms Spender to “congratulate her on her election result” in the wealthy Sydney seat, once held by Malcolm Turnbull.

“Whilst there are still some 40,000 votes still to be counted, and some time until an official result is declared, I expect the current lead will not change markedly,” he said.

“It has been a privilege to serve the people of Wentworth these past three years as their federal member of Parliament, and I wish to thank the people of Wentworth for the opportunity to do so.”

Mr Sharma – who won Wentworth back for the Liberals from independent Kerryn Phelps in 2019 – said he believed much had been achieved during his three years in office.

“At a national level, I am glad to have played a part in Australia adopting a net-zero emissions target by 2050, facilitating the historic and critical AUKUS arrangement, supporting the ratification of free trade agreements, and helping shape our policy responses to China’s growing assertiveness in our region,” he said.

But he warned that Australia faced “a more challenging global outlook than we have seen for several generations”.

“In the face of such challenges, the quality of our political and national leadership will matter greatly,” he said.

“I congratulate the incoming Labor government on their election.”

As well as Dr Ryan and Ms Spender, teal candidates won in North Sydney and Mackellar on Sydney’s northern beaches on Saturday, and Goldstein in bayside Melbourne. Another, Kate Chaney, remains in the hunt in the Perth seat of Curtin.

– with AAP