Michael Arnott sells Noosa Heads unit for $8.2m

The great-great-grandson of the Arnott’s Biscuits founder has just turned $760,000 into a massive $8.2 million.

Well, this will buy you a few bikkies.

The great-great-grandson of Arnott’s Biscuits founder William Arnott has just pocketed about $8.2m for a Noosa Heads unit which sold only four days after listing.

Owner Michael Arnott listed the three-bedroom apartment at that figure but the final sale price has yet to be disclosed.

Michael Arnott has sold his unit at 4/81 Hastings St, Noosa Heads.

Records show he acquired the Hastings Street property for a mere $760,000 back in 1993.

It’s one of nine large apartments on the side of a hill, with the 298 sqm residence overlooking Noosa Main Beach with views north to Double Island Point.

The previous sale in the tightly-held block of blue-chip units was $4.5m in 2015.

Michael Arnott has sold his unit at 4/81 Hastings St, Noosa Heads.

Sought-after premium properties were already in demand at Noosa but the pandemic has driven prices even higher, with agents striking multimillion dollars deals in days. Limited turnover and a population cap have also worked in favour of sellers.

Agent Tom Offerman said the Arnott unit was purchased by one of his clients in-waiting, desperately trying to get a toe hold in the area’s property market.