Gold Coast property: Paradise Centre developer Eddie Kornhauser’s former unit sells
The former home of one of the Gold Coast’s most famous developers has sold for an astonishing amount of money, while a major Palm Beach land sale has gone bust.
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THE former home of one of the Gold Coast’s most famous developers has sold for an astonishing amount of money, while a major Palm Beach land sale has gone bust.
* A PALM Beach site sale which would have seen two investors gain nearly $1 million in profit in three months has ‘busted’.
Property player John Potter and developer Mark Howard’s wife Margaret paid $1.44 million in March for a highway site backing on to Jefferson Lane and re-sold it at auction last month for $2.4 million.
The ‘buyer’, apparently from Melbourne, hasn’t paid the deposit, has disappeared, and the underbidders have been invited to talk turkey.
* THE Surfers Paradise apartment that Paradise Centre developer the late Eddie Kornhauser called home for 25 years has sold at nearly $1 million above an auction reserve price.
The apartment, overlooking the beach in one of the centre’s three towers, Allunga, changed hands for $1.9 million in 2019, only to fall into the hands of a receiver.
It’s now been auctioned with a $1.1 million reserve but bidding’s raced past that, with the hammer falling at $2.075 million.
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* JANNIE Tay, a Singapore woman who 30 years ago embarked on the Oyster Cove estate on 162ha at Hope Island, and her listed The Hour Glass chain have been big-spenders in Melbourne’s Collins St.
A property leased to Louis Vuitton was bought for $68 million in December and a second property, tenanted by Balenciaga, has been snared for a reported $35 million plus.
Jannie in the 1980s opened an outlet for The Hour Glass in Elkhorn Ave, Surfers Paradise.
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