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
Business
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‘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.
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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.
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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.
The idea of linking the two buildings – which would be separated by Lavarak Rd – has been mooted but apparently dismissed.
Sandwich wars: US food giant to battle Subway with 165 Aus stores
Revived Gold Coast food franchisor Retail Food Group is partnering with a veteran US fast food brand to take on national giant Subway by opening 165 stores across Australia - the first in south east Queensland by the end of this year.
Ashmore Tavern added to Qld pub empire after successful takeover
The Federal Court has given the green light to an $80 million corporate takeover of a bit-player that counted among its assets the recently renovated Ashmore Tavern.