Defence Minister Peter Dutton sells Gold Coast beach house for more than twice what he paid
A federal minister has sold his Gold Coast beach house for more than double what he paid for it seven years ago. SEE THE PHOTOS
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FEDERAL Defence Minister Peter Dutton has sold his Gold Coast beach house for $6 million – more than double what he paid for it seven years ago.
The absolute beachfront home at number 109 on exclusive Jefferson Lane at Palm Beach was listed for auction on December 6 but did not sell until February 9. The sale settled on April 12.
Full-height windows and soaring ceilings provide bright, uninterrupted views across the dunes of Palm Beach to the glittering horizon.
The property’s next occupants will be able to, in the agent’s words, “watch the waves play on the shore from the open-plan area with its formal and informal dining options – perfect for long, lazy brunches”.
FRIZELLES’ EIGHT-FIGURE PROPERTY WINDFALL
Property records show Mr Dutton, 50, a former police officer and current Leader of the House, bought the home from Deborah Heiner for $2.325 million in September 2014.
Other properties in Mr Dutton’s Queensland portfolio include the Edison Plaza shopping centre at Wulguru in Townsville, an apartment in Spring Hill’s Art Series Residences and a 68ha cattle breeding property at Dayboro.
The new owner of the Palm Beach property is a company linked to property developer Michael Ferraro, managing director of NPD Property Group.
Mr Ferraro declined to comment on his plans for the property, which sits on a 564 sqm, north-east-facing block.
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