Federal Minister Steven Ciobo makes hefty profit on Surfers Paradise mansion

Federal Minister Steven Ciobo and his wife have shown themselves shrewd operators in the property market, making a tidy sum on a Surfers home in only a few short years

CABINET minister Steven Ciobo and wife Astra have sold the riverfront Surfers Paradise property they have called home since 2015 for a hefty profit.

The couple are yet to find a new home in the Moncrieff electorate of the Federal Minister for Defence Industry.

“I’m looking for the right property,” Mr Ciobo said yesterday.

“I haven’t found it yet but, of course, remain in the electorate.”

The six-bedroom house is in a prime position fronting the Nerang River. Photo: RP Data

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The Ciobos bought their two-level home at 3 Florence Court on the Isle of Capri from cardiologist Guy Wright-Smith for $2.6 million in June 2015.

It has been sold to the neighbours at 1 Florence Crt, Paul and Michelle Batty, for $3.2 million.

The Batty name also is on No. 5 Florence Crt.

The house has six bedrooms and an inviting swimming pool. Photo: RP Data

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The ex-Ciobo house is on an 1186 sqm site in a prime position fronting the Nerang River. It has six bedrooms.

Florence Court is an exclusive cul-de-sac with only eight titles, one of which is owned by veteran developer Norm Rix and wife Denise.

The Ciobos bought the house for $2.6 million in June 2015. Photo: RP Data

The Ciobos moved to Florence Crt after selling a waterfront home in Savoy Drive, Broadbeach Waters, for $1.62 million in late 2014.

Before that they had planned a new home in Benowa’s Heeb St but ditched that idea and sold the hilltop lot, which had cost them $532,000 in 2009, for $470,000.