Power couple wins $16.2m Noosa land battle

High-profile hotel developer Michael Malouf and Sass and Bide founder have reportedly picked up a prized stretch of beachfront land at Noosa for $16.2m after a bitter legal battle.

Sass & Bide co-founder Heidi Middleton has been locked in a battle to acquire prime Noosa oceanfront land. Photo: Supplied

High-profile hotel developer Michael Malouf has picked up a prized stretch of beachfront land at Noosa for $16.2m after a bitter legal battle that forced out a Queensland farming family.

The 40.5 ha property just north of Noosa’s trendy Hasting St was the subject of a statutory sale after a Queensland Supreme Court stoush between Mr Malouf, his partner Heidi Middleton and the Cameron family, who shared ownership of the land.

The wheat farmers had refused to sell to the power couple who were nevertheless successful in an application for a statutory sale.

The auction at Ray White Commercial’s Queensland head office in the CBD saw Mr Malouf battle it out with Mr Cameron and eight other bidders - with a number making bids over the phone from both interstate and overseas. Mr Malouf declined to comment.

The property was half owned by Ms Middleton, the co-founder of women’s fashion brand Sass and Bide, and Mr Malouf, with the balance owned by Jill Alexia Cameron – the former wife of federal National Party MP Ian Cameron

The Cameron family has had a part ownership of the site with two other families since the 1970s and Jill Cameron gained ownership of half of the site in 2002 after Family Court proceedings.

Designer Heidi Middleton and David Malouf, who own half of the land at 337 Teewah Beach Rd, Noosa North Shore, forced the Cameron family to sell their share in the Supreme Court.

The Malouf-Middletons several years ago entered negotiations with Ms Cameron to buy the ­remaining half of the block in order to build a family home. The couple then took the issue to the Supreme Court to force a sale which was allowed by Justice Tom Sullivan earlier this year

The sale has thrown a spotlight on a little known aspect of Queensland’s Property Law Act which means joint owners of land – known as tenants in common - can be forced to sell if one party applies to court.

Fashion designer Heidi Middleton at home in Palm Beach. Picture: Justin Lloyd.

Will Cameron, the son of Mr Cameron and Jill Cameron, said he bid as high as $16m in the auction but was tapped out at that level. “Unfortunately, the man with the deepest pockets won,” said Mr Cameron. “It has been a very stressful time for the family given we have owned the land for 48 years.” He said the laws allowing statutory sales should be reformed to prevent tenants-in-common from applying for a statutory sale. “There should be a timing clause - say two years - before someone can apply for a statutory sale,” said Mr Cameron. “Mr Malouf had owned it for three days.”

The property was marketed by RWC Special Projects’ Mark Creevey and Tony Williams, in conjunction with RWC Noosa and Sunshine Coast agents Paul Butler and Paul Forrest.

Creevey says it was a very competitive auction.

“The campaign generated a huge amount of interest as you can imagine with something of this nature and the auction delivered a very strong outcome,” he says.

Described as a once-in-a-generation opportunity the property at 337 Teewah Beach Rd at Noosa North Shore, was offered for sale by Glenn O’Kearney of GT Advisory & Consulting and Tim Elliott of Bell Legal as statutory trustees.