Territory cattle baron’s $11m escape from life on the farm

A quiet-achieving Northern Territory beef baron and his wife have popped up among some of the biggest buyers of palatial properties in Queensland.

QUIET-achieving Northern Territory beef baron Sterling Buntine and his wife, Rachel, have popped up among some of the biggest buyers of palatial properties in key locations from the Sunshine Coast to the Gold Coast in Queensland.

The Northern Territory couple, who have assets estimated to be worth around $350m, have emerged as the mystery buyers of this $11m Sunshine Coast penthouse at popular Mooloolaba.

The three-storey property has magnificent sweeping views of the Sunshine Coast, all the way to Noosa, and the trimmings of a palatial Beverly Hills pad.

Sterling Buntine.

The Mooloolaba property was first on the market in late 2018 for $15m as a Las Vegas Bellagio-inspired “mansion in the sky”.

The price tag meant the sellers, Shane and Liz Leadbetter, were determined to be patient until they received the right offer.

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There are two internal levels, with the second floor extending out to a rooftop outdoor entertaining area with a spa.

There’s also a private bar and eight storage rooms and 12 car spaces.

Mr Buntine, whose family has a successful pioneering history in the Northern Territory cattle industry, was the spokesman in 2016 for the consortium bidding for the vast landholdings of the S Kidman and Co pastoral empire.