Gold Coast real estate: Seven Group Holdings CEO Ryan Stokes buys on Palm Beach beachfront
A media and investment mogul, heir to billions, has splashed out on a Gold Coast beachfront home – and it’s not his first in the exclusive Palm Beach street.
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MEDIA and investment mogul Ryan Stokes has splashed out on a Gold Coast beachfront home – and it’s not his first in the exclusive Palm Beach street.
The managing director and CEO of Seven Group Holdings, son of billionaire Kerry Stokes, spent $4.625 million on 39 Jefferson Lane, a tri-level, four-bedroom, four-bathroom pad perched on the dunes with sweeping views out to sea and up the coast from an 11.9m frontage.
The purchase gives Mr Stokes a lucrative double block on the sandy strip, having bought number 41 next door for $3.375 million in 2016.
Mr Stokes and shoe entrepreneur wife Claire, announced in December they were expecting their second child, understood to be due this month.
The baby and older sister Vivienne, 2, along with their cousin Victoria, are heirs to an empire worth more than $6 billion thanks to investments in oil, gas, machinery and media.
The Palm Beach forays are not the first on the Coast for Mr Stokes, who paid $1.2 million for an apartment in Main Beach’s Silverpoint building in 2016.
The latest Palm Beach property had not been offered for sale in more than 35 years, with records showing it last changed hands for $255,000 in 1986.
It was sold by company JPS Investments, which directed by Scott and Paul Barber of Brisbane and owned by Robert Auld and Greg Chapple, also of Brisbane.
Mr Stokes is also a director of WesTrac; chairman of Coates Hire; director of Beach Energy, and director of Seven West Media as well as CEO of Australian Capital Equity and a member of various national boards.
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