On the QT: The Poppas low-rise in Main Beach on the Gold Coast is tipped to sell for $10 million, new twist in the sale of Raptis management rights and more
This week in on the QT: The Poppas low-rise is tipped to sell for $10 million, a new twist in the sale of Raptis Group management rights and more
Business
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$10M BUYER TIPPED FOR POPPAS
STEVE Anderson, property player, has a buyer in the wings for the beachfront Main Beach site that is home to ageing low-rise Poppas.
The 617sqm holding, which adjoins elite five-home building The Ocean Isles, could change hands for a figure north of $10 million.
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Steve paid $7.8 million for Poppas in 2017, heading off developers Norm Rix and Brian Heran at auction, and has won approval for an indulgent 14-level tower.
NEW TWIST IN MANAGEMENT RIGHTS SALE
DEVELOPER Jim Raptis’s sale of the management rights to his Waterpoint towers at Biggera Waters to his listed Raptis Group could be about to take a new twist.
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Market watchers suggest Brisbane’s Brendan Tutt-founded Tessa Group might have a $6.3 million deal to buy the rights, which were sold to the Raptis Group last month for $6.01 million.
Part of that sale deal was that the group would get 25 per cent of the profit if the rights sold within 15 months.
DAVIS MOVES TO SELL AGENCY BASE
KERRY Davis, property veteran, has slipped adjoining Chevron Island homes on to the market, one of them a base for the past 16 years for his Knobel & Davis agency.
The Mawarra St homes, each on a 506sq m site, are in a high-rise zone near Chevron’s main street and are being marketed at $990,000 each by the agency’s Brett Laws.
The sell-off move comes as Chevron resident Kerry has the agency in an expansion phase, including on the island.
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