Therese Rein sells Noosa chalet to Gina Rinehart and earns $3 million in six months

Wealthy businesswoman Therese Rein, wife of former Labor Prime Minister Kevin Rudd, and Gina Rinehart come from different ends of the political spectrum but have found common ground over a nearly $10million cottage on Queensland’s Sunshine Beach.

The ‘classic beach cottage’ was put up for sale last year and bought by an investment firm ultimately owned by Rein for $6.75million, only to be sold six months later for $9.75million of dollars.

The two-bedroom cottage sold by Therese Rein’s investment firm for $9.75 million is set on 588 square meters with a goat track down to Sunshine Beach.

The sale netted the self-made businesswoman a capital gain of $3 million during her brief ownership, which equates to $500,000 for each month she owned it.

The recent off-market sale of the two-bedroom house in Sunshine Beach was filed on behalf of Rinehart’s Hancock Prospecting subsidiary, BV Investments.

Rinehart has become one of Sunshine Beach’s most grateful buyers since last year, when she reportedly purchased a $34 million home from the Charlton family.

Therese Rein realized a capital gain of $3 million in six months of owning a cottage in Sunshine Beach.
Therese Rein realized a capital gain of $3 million in six months of owning a cottage in Sunshine Beach. Photo: Andrew Taylor

This record sale has not yet been confirmed by a settlement, but in the meantime, Rinehart’s BV Investments company has accumulated a total of more than $42 million in Sunshine Beach real estate this year.

In February, the corporation bought a 530 square meter beachfront plot on the road for $11.02 million, just 18 months after the same grassy mound traded for $7.05 million.

And a renovation-ready home on a popular beachfront double block has been bought for $21.5 million from veteran backpacker hostel owner Errol Rumpf, just steps from the beach from the beachfront home. sea ​​of ​​$17 million from Rudd and Rein.

The highest sale price this year in Sunshine Beach is $28.5 million for a newly built beachfront home bought by Karen Greer, wife of Wilson Asset Management founder Geoff Wilson.

Real Housewife doubles over Noosa

Reality TV queen Krissy Marsh has doubled down on her preference for spending her Australian winter in Noosa over Europe – ‘You don’t even have to pay to go to the beach’ – by paying $7million for a second holiday home in the seaside resort.

The five-bedroom home sits almost directly behind the $9.8million waterfront dig that Marsh bought three years ago and is intended for use by extended family when they aren’t earning its life as a luxury vacation rental.

The purchase by the star of The Real Housewives of Sydney The series comes as she and her husband John swap real estate in Sydney, buying the Double Bay family home of Magellan’s Hamish Douglass and his jewelry designer sister Sybella Morris for what well-placed sources say is a little more of $25 million.

The exact purchase price has yet to be revealed – which isn’t surprising given that it was offered with a $30 million guide.

Byron’s star appeal

Talent managers Mark and Lizzi Morrissey have put their home and office warehouse in Rosebery up for sale after moving to Byron Bay.

Talent manager Lizzi and Mark Morrissey's Rosebery home and office are up for sale.
Talent manager Lizzi and Mark Morrissey’s Rosebery home and office are up for sale.

The mixed-use warehouse has been their Sydney base since 2008 when it was bought for $1.35million, but is up for auction on August 13 with a $3million guide by Shannan Whitney of Bresic Whitney and John Bacic of Metro Commercial.

The couple had previously downsized their home in Whale Beach, but sold it last year for $3.6million to grow to a $2.4million acreage in Byron’s hinterland , thus bringing them much closer to the most prominent talents of Morrissey Management, Chris and Liam Hemsworth.

Jointly to fund the cannabis trade

The Vaucluse home of cannabis entrepreneurs Vaughn and Air Graham hits the market next week after the couple moved to Thailand and expanded their new business, Hempagoda.

The Hillside Avenue residence of entrepreneurs Vaughn and Air Graham in the Vaucluse is put up for auction in August.
The Hillside Avenue residence of entrepreneurs Vaughn and Air Graham in the Vaucluse is put up for auction in August.

As the company name suggests, Hempagoda grows and produces hemp and cannabis products, and is headquartered in Bangkok, where the marketing of cannabis was legalized in 2019.

Michael Dunn of Richardson & Wrench Double Bay has yet to offer a guide to the couple’s Vaucluse home on popular cul-de-sac Hillside Avenue, but buyers are provided with recent sales from the property as a guide. order of $11 million and $12 million.

It last traded in 2019 for $6.8million when it was sold by Toula and Andrew Finlayson of Carrington Property Group, and the sale proceeds are expected to help fund the couple’s Thai business interests .

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