Gold Coast billionaire Bob Ell chasing $11.5m buyer for Sunny Coast holiday home, Ho Bee spends up on southeast land for new subdivision and more

In this week’s business gossip: Gold Coast billionaire chasing $11.5m buyer for holiday home, Ho Bee spends up on southeast land for new subdivision and more

‘BAREFOOT INDULGENCE’ COMES WITH BIG PRICE TAG

BOB Ell, Gold Coast billionaire developer, is chasing an $11.5 million buyer for a Noosa holiday home he and wife Bridget built on a distress-sale site snared as the GFC was winding down.

Gold Coast billionaire Bob Ell.

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The Budds Beach residents bought the riverfront site, on the doorstep of Hastings St, for $2.75 million – it sold for $4.85 million in 2007.

The Ell house, described as offering ‘barefoot indulgence’, spans 675sq m, has six bedrooms, and is being sold with all furnishings.

SINGAPOREAN GROUP’S NEW SUBDIVISION PLANS

HO BEE, a Singaporean group which has failed in efforts to sell a 1.1ha development site adjacent to Pacific Fair, hasn’t lost its ardour for southeast Queensland.

Rhapsody in Surfers Paradise was developed by Ho Bee. Photo: David Clark

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The group is spending $14.5 million on land at Ripley, near Brisbane, for a 570-lot subdivision.

Ho Bee, which in 2014 embarked on 41-level Surfers Paradise tower Rhapsody, was an investor in former Gold Coast housing company Villa World and partnered it in a Melbourne estate.

DEVELOPERS TO COMPLEMENT NOBBY BEACH APARTMENT PROJECTS

GEORGE Manettas and Daniel Veitch, landlords to two parcels of highway-front shops at Nobby Beach, appear to be working in tandem to deliver complementary developments.

The fruiterer and developer, who between them have nearly $30 million invested in their holdings, apparently hope to deliver apartment buildings above restaurants, retail and multi-level basements.

Deals have been done for the Nobby Beach shops fronting the Gold Coast Hwy.

The idea of linking the two buildings – which would be separated by Lavarak Rd – has been mooted but apparently dismissed.