Gina Rinehart sells Noosa land on Sunshine Beach for $6million mark up after buying for $11.2million
Mining tycoon Gina Rinehart is hoping to make a payday with a difference by putting one of her many blocks of land up for sale at a bold $6 million markup.
Ms Rinehart’s investment company purchased the 531-square-metre Noosa site, on Queensland’s Sunshine Coast, in February 2022 for $11.2 million.
But less than a year after purchasing the land, it is now back on the market for $17.2 million.
The site faces Sunshine Beach, a favorite with tourists in the Noosa region north of Brisbane.
An investment firm owned by Australia’s richest person, Rina Ginehart (pictured), is looking to make a $6 million profit on a Noosa site.
The Park Crescent site is being sold by exclusive Noosa real estate agent Paul Offermann and the listing comes with its own cleverly produced video.
“He covets one of the absolute last remaining beach spots in Sunshine Beach,” agent Rebekah Offermann says in the video.
‘After savoring the sunrise from your front trellis, jog over to the shops at Sunshine Beach for coffee, then spend the day on the glistening white sand out front.’
The site is marketed using plans for a four-story ‘state of the art house’ designed by local architect Paul Clout, who specializes in ‘resort’ style homes.
The 531 square meter site is located on Noosa’s Sunshine Beach and is selling for $17.2 million after being purchased for $11.2 million last February.
The plans were commissioned by the land’s previous owner, construction magnate Andrew Vandersteen, but are only in the concept stage and are not approved by the council or included in the sale price.
Despite that, the site’s listing encourages potential buyers to envision the home.
“Imagine a gently sloping 5,500-square-foot beachfront site with a 5,500-square-foot (approximate) four-story residence, stunning panoramic views of the coastline and whitewater Coral Sea, also beach access, more four rooms with private bathrooms,” the listing says.
“Other standout features include an elevator and multiple indoor and outdoor living areas.”
The Sunshine Coast block is being marketed using concept plans for a four-story beachside mansion.
The site was acquired by Mr. Vandersteen for just over $7 million in late 2020 during a pandemic-led boom in “lifestyle” real estate.
Although there has been a cooling off period of late, largely as a result of rising interest rates, Noosa has been the epicenter of the real estate scramble for expensive properties.
The region had six of the 10 most expensive sales of ‘recreational’ real estate in 2022, with the highest price being the eye-popping $28.5 million paid for a 6,500-square-foot mansion on a 6,500-square-foot oceanfront block also in Sunshine. Beach.
Ms. Rinehart and her associates are believed to have seized nearly $75 million worth of sites in the area, according to the aussie.
Ms. Rinehart (pictured) enjoyed a breakout year in 2022 with an estimated $2 billion added to her fortune
Spikes in commodity prices have seen Ms Rinehart, chief executive of Hancock Prospecting, sail into 2023 firmly entrenched as Australia’s richest person, according to the latest report. Australian Financial Review rich list.
The year before, approximately $2 billion was added to Ms. Rinehart’s fortune to bring her coffers to swell to $35.9 billion.
Rinehart’s private company has made nearly $20 billion in profit in the past four years alone.