REVEALED: Hasting St’s surprising links to Oz’s rich, famous
RICH LIST: A pub baron, IVF specialist and self-made billionaire – we reveal who owns one of Noosa’s most popular strips.
Property
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A billionaire pub baron and the son of a property mogul who built his fortune on a bottle shop empire own the most expensive piece of real estate on Noosa’s iconic Hastings St, the Sofitel Hotel.
The pair is among a number of high-profile commercial investors boasting multimillion-dollar property portfolios on the sought-after tourist strip.
Also on the list is a furniture-franchise billionaire who once knocked Clive Palmer off the number-one spot on Queensland’s rich list, plus the man responsible for bringing The Body Shop franchise to Australia.
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A fertility specialist and his doctor wife who own millions-of-dollars worth of Hastings St property made waves when they bought two side-by-side mansions on Noosa’s exclusive Witta Circuit, and knocked one down to give their children a huge backyard.
A Noosa couple who are big in the triathlete scene, whose company own more than $47 million in commercial and industrial properties, have dropped more than $10 million of that on Hastings St alone.
Though the world-renowned street is only about 500m long, the limited supply and high demand has investors queuing up for their bite of the sought-after strip, with some going back for seconds and thirds.
Here is a list of the top 15 most expensive commercial properties on Hastings St, and a look at who owns them.
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1. $108 MILLION: Luxury Sofitel Noosa Pacific Resort at 14 Hastings St, Noosa Heads
Unsurprisingly, the luxury hotel on Hastings St is the strip’s most expensive piece of real estate.
It was bought for $108 million in November 2014 by KL Noosa Properties Pty Limited.
According to ASIC documents, KL Noosa Properties is co-directed by Gregory Theo Karedis and Arthur Harold Laundy, both of New South Wales.
The secretary is Mr Karedis’ father, Theo Karedis.
The heavyweight, property-collecting Laundy and Karedis families are known to have made major investments in partnership with each other.
Theo Karedis made his fortune in the early 2000s when he sold his bottle shop chain, Theo’s liquor, to Coles Myer in 2002 for a reported $175 million.
When he sold out, his empire had grown to 48 stores and four hotels in New South Wales.
Greg Karedis has made his own mark in the property game, and in 2017 sold a Woolworths-anchored shopping centre in Hervey Bay for $33.2 million.
The Laundys have been renowned in the pub and hotel scene for generations, with Arthur Laundy (Jnr) the son of Laundys Hotel founder, Arthur Laundy (Snr).
Arthur Laundy is known as a “pub baron” and is the patriarch of the Laundy family, which includes prominent sons – former politician Craig Laundy, and Stu Laundy who shot to fame during his fling with singer Sophie Monk on the Bachelorette.
Following their Hastings St buy, he and Greg Kaledis bought the beachfront Crowne Plaza Terrigal Hotel on the New South Wales coast for a reported $60 million.
At the time they had reportedly held Sydney’s Manly Pacific Hotel since 2003.
In September 2019 the Laundy family was reported to hold more than 70 properties in New South Wales, including the recently purchased Maitland’s Bank Hotel bought for $5.5 million.
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2. $21 MILLION: 50 Hastings St, Noosa Heads
At the time it was sold in March 2017, the two-storey retail asset held six tenancies, including Laguna Jacks Bar and Restaurant, 7-Eleven, Ben & Jerry’s Ice Creamery and iconic Noosa eatery, Betty’s Burgers.
The owner is listed as Melbourne-based family operation, Ruthven Haststreet Pty Ltd.
Listed as co-directors are Phillip Kenneth Gowrie Ruthven, Shane Phillip Gowrie Ruthven, Kerryn James Gowrie Ruthven and Justin Edward Gowrie Ruthven, who is also the secretary.
At the time of sale, the selling agent said the purchase was the family’s third Sunshine Coast investment within 12 months.
The shareholder in Ruthven Haststreet Pty Ltd is Ruthven Investments Pty Ltd, which owns shop 7/1796 on David Low Way strip in Coolum Beach.
It was tenanted by a sushi restaurant, and was bought in July 2016 for $970,000.
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3. $10.8 MILLION: 9 Hastings St, Noosa Heads
The Queensland self-made billionaire who founded and made his fortune on the Super Amart furniture chain, John Van Lieshout, owns two Hastings St properties, including the third-most expensive.
Mr Lieshout and Linda Lieshout of Milton, Queensland are the co-directors of 60 Seaworld Pty Ltd, the listed owner of 9 Hastings St.
60 Seaworld bought the retail building for $10,828,999 in July 2012 and is also the listed owner of 11-19 Hastings St.
This property does not have a sale price, but was purchased as jewellery business Armano Collections.
In March this year Mr Lieshout was reported to have a property portfolio worth $1 billion.
In 2014 Mr Lieshout knocked controversial Queensland billionaire and former politician Clive Palmer off the number-one spot in Queensland’s Top 150 Rich List.
According to Forbes, Lieshout sold the Super Amart chain in 2006 but maintained freehold to some stores.
His wealth is now underpinned by a large property portfolio that includes shopping malls and offices.
He also owns the Unison Projects Group in Milton, which has property interests in tourism, residential, industrial and commercial assets predominantly across southeast Queensland.
Among them is beachfront Seahaven Noosa resort.
Mr Lieshout arrived in Australia in 1960 with his parents and 12 siblings, emigrating from the Netherlands.
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4. $6.9 MILLION: 28 Hastings St
The Frisby family bought the freehold at 28 Hastings St in April 2019.
It is tenanted by international sleepwear chain Peter Alexander, and was advertised as a “trophy property in any portfolio” when Ray White took it to market.
They stated it had been rebuilt in 2016 and reported a gross rental return of more than $374,000 a year.
ATG (Hastings St) Pty Ltd are the listed owners of the $6.9 million property.
ASIC documents list the co-directors as Timothy James Frisby of Buderim on the Sunshine Coast, and Denis Martin Frisby, Paul Joseph Frisby and Gerard Vincent Frisby of Brisbane.
ATG Properties Pty Ltd is the listed shareholder, a company which the Frisbys are also co-directors of.
5. $5.9 MILLION: Lot 1/40 Hastings St
IVF specialist Dr Glenn Michael Sterling and his wife, Dr Nicole Sterling, have grown an impressive, multimillion-dollar property portfolio including a number bought and sold on Hastings St, in broader Noosa, Maleny, Spring Hill and Teneriffe.
All are or were owned under the company name Nicole Marie Pty Ltd, of which Dr Sterling is the sole director and secretary.
The Sterlings hit the headlines in 2015 when they bought and knocked down a $3.8 million mansion next to their home to create an outdoor space for their four children.
The property was razed and turfed to become possibly one of Australia’s most expensive backyards.
The manicured 614sq m block sat next to the couple’s award-winning home, which they built for $5.5 million after they demolished an existing canal-front home.
Property data shows seven properties are currently owned in the Nicole Marie Pty Ltd name, which were bought for nearly $24 million combined.
The properties currently owned span Hastings St, Noosa Heads, Teneriffe and Spring Hill in Queensland.
This includes commercial space tenanted by Goddess Clothing at Lot 1/40 Hastings St – bought for $5.9 million in July 2016, and 27/40 Hastings St – bought for $4.3 million in September 2019.
They have also sold another six properties under Nicole Marie Pty Ltd, including 2/23 Hastings St – a penthouse-style, whole-floor apartment overlooking Laguna Beach.
Nicole Marie Pty Ltd sold it for $8.25 million in August 2019 to LL Group Investments Pty Ltd.
They sold another “most expensive” Hastings St property, the shop tenancies at 2-3/25 Hastings St to current owner Royal Star Investments Pty Ltd, who made the most-expensive list with the $4.5 million buy in August 2019.
Nicole Marie Pty Ltd sold 4/25 Hastings St for $1.7 million to the current owner Grant Anderson in October 2019.
Another recent sale was 29 McCarthy Rd, Maleny which they sold for $1.04 million in September 2019.
In 2007, Nicole Marie Pty Ltd sold 19/3 Morwong Dr, Noosa Heads for $2.55 million.
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6. $5.6 MILLION: Signature on Hastings at 18A Hastings St
Interstate investor bought Noosa Heads “retail institution” Signature on Hastings for $5.6 million in an off-market campaign in April 2019.
The buyer was Amba Superannuation Pty Ltd, co-directed by Denise and Donald Campbell of Bolwarra, New South Wales.
When Ray White Commercial sold the property they said it was one of only five single-use freeholds left on the famous strip.
The vendor had held the property for more than 30 years, and it was reported to produce an annual income of $306,000 plus GST.
Ray White Commercial Noosa and Sunshine Coast North director Paul Forrest said the buyer already owned several assets on Hastings St, so as on they approached.
Amba Superannuation Pty Ltd also owns the retail space at 2/5 Hastings St.
7. $5.5 MILLION: Unit 10, Bella Casa
Unit 10 of Bella Casa apartments was said to be the “pick of the bunch” in the popular Noosa holiday destination.
The private, three-bedroom, two-bathroom apartment boasts “one of the biggest outdoor areas you will find on Hastings St” and was bought for $5.5 million in February 2009.
The floor area is more than 600sq m.
The owner is listed as BR & KM Smith (Properties) Pty Limited, which is headed by Barry Roy Smith of Noosa Heads.
8. $5.25 MILLION: 4, 5 and 9/32 Hastings St
These three retail tenancies sold for $5.25 million in June 2000 to Woodridge Holdings Pty Ltd.
The owners are creative couple Annette Mary Fraser and Paul Alexander Kostromin of Noosaville.
In 2011 the pair opened the doors to their Hastings St designer homewares store, Askew, after the business started life in Peregian Beach.
At that time, News Corp vacancy rate was reported to be dropping and “confidence growing” in Hastings St, which was set to undergo a revamp.
Located near the main shopping strip on Hastings St, Askew is filled with decorative objects, clothes and footwear that the couple source from around the world.
Askew also has a presence in New Zealand, where the family had lived before they moved to Noosa.
Mr Kostromin is no stranger to creativity, having worked in architecture in Sydney and spending his nights as a musician before Askew.
9. $5.06 MILLION: 1/55 Hastings St
The owners of 1/55 Hastings St, Noosa Heads own more than $10 million worth of property on the tourist strip alone, and $47.7 million worth of property in total across greater Noosa and Brisbane City.
When BDH Group Investments Pty Ltd bought the building tenanted by activewear label Lorna Jane for $5.06 million in December 2018, it entered the most-expensive property list on the street and added to BDH’s significant property portfolio.
Number-55 Hastings St is also home to some of the most expensive units on the strip, including one which sold for $14 million on March 11 this year.
Business records show Brian Dennis Hannon and Angelika Irene Dorthea Hannon, of Noosa Heads, as the co-directors of BDH Group Investments.
The couple’s business is registered in the Northern Territory, and the pair appear to be renowned on the triathlete scene.
Property records show BDH currently owns 25 properties which were bought for a combined $47.7 million across Noosa Heads, Noosaville and Brisbane City.
Their most significant holding is the block containing the 7-Eleven service station and KFC at 139 and 143 Eumundi Noosa Rd.
BDH bought number 143 for $10.75 million in November 2018, and the adjoining block at 139 for $7.6 million in April 2017.
At the time of sale the estimated net income was $527,000 a year.
They bought the building tenanted by Noosa Longboards at 2/55 Hastings St for $4 million in December 2016 and the retail building tenanted by a jeweller at 3/71 Hastings St for $1.375 million in August 2017.
The rest of their property portfolio is made up of industrial building including on Eumundi Noosa Rd and Rene St in Noosaville; commercial holdings in Noosa Heads; and a $1 million office and retail building in Brisbane City.
10. $5 MILLION: Numbers 9, 10, 11 and 33/18 Hastings St
These four Bay Village on Hastings tenancies are owned by Smart Superannuation Pty Ltd, a company co-directed by Graeme Clifford Wise and his wife, Angelina Wise.
Graeme Wise, who is the sole director of Adidem Group Pty Ltd, brought nature-inspired, cruelty free beauty brand The Body Shop to Australia, and opened the first store in Collins St, Melbourne.
According to Adidem’s “about” information, The Body Shop Australia was sold back to L’Oreal group in February 2015 after 31 years of franchise in Australia.
By this time The Adidem Group had grown to 12 businesses and a charitable foundation. During the remainder of 2015 the ownership and control of the core operating businesses of the group were transferred to Graeme‘s children, Robert Wise and Caroline Zwiers.
The family is also behind the Wise Foundation, a not-for-profit formed in 2008 and based in Melbourne with a goal to “further the community development and social commitments of the Adidem group of companies, and the Wise family”.
The Adidem Group’s website states it continues under Mr Wise’s guidance as an investment company seeking strategic long-term investments in property and equities.
According to the Bay Village website the Hastings St buildings are tenanted by Sensaura Day Spa, Lightweight Traveller and Georgettis’.
11. $4.5 MILLION: Lot 2/25 Hastings St
This retail space is positioned adjacent to Noosa Main beach access, and opposite the Sheraton and Bay Village shopping centre.
It is owned by Royal Star Investments, which is co-directed by Stuart Crow who now lives in Singapore, but was born in Kyabram, Victoria and Tonya Eishold also of Kyabram, Victoria, now residing in Echuca.
The secretary is Georgina Yeoh of Singapore, who was born in Melbourne.
12. $3.425 MILLION: 18/18 Hastings St
This glass-fronted retail shop in the Bay Village in the heart of Hastings St sold for $3.425 million in July 2007.
The centre includes retail shops, a food court, restaurants, bars, clubs, health and beauty.
According to the Bay Village website, the number-18 shops are tenanted by Candy Addictions and Acai Nation.
The owner of the retail spaces is Sunrise Beach resident Kenneth Walden Madden.
There is not much information publicly available on Mr Madden, but his property portfolio includes a $1.962 million unit on Queen of Colonies Parade, Moffat Beach and a more humble house in Petrie Terrace, Queensland.
Mr Madden has also bought and sold property in Tewantin and Moffat Beach, and in March 2020 sold 5/5 Hastings St, Noosa for $1.3 million.
13. $3 MILLION: 28/18 Hastings St – Rolling Rock Nightclub
Rolling Rock nightclub has been on the market since early this year, garnering national interest.
But for now, it is owned by Ironbark SMSF Properties Pty Ltd, which is co-directed by Douglas John Simon and Angela Theresa Szpojda of Noosa Heads.
Ironbark bought Rolling Rock for $3 million in January 2016.
It was previously owned by Malcolm Mercer.
The 530sq m venue is currently taking offers over $4.5 million.
The selling agent has been tight-lipped on who might snap up the renowned venue, but it was reported in 2019 that restaurateur John Fink may have been eyeing it off.
Delicious reported the head of Fink Group had a personal affinity with the club, sharing some of his “fondest memories with old friends at the Rolling Rock”.
Mr Fink reportedly thought to expand his empire north after he attended the Noosa Food and Wine Festival in May 2018.
At the time of the interview, he said he wanted to return the venue to its “former glory”, transforming it into a world-class bar to match the incredible landscape and food scene.
Mr Fink holds the key to Sydney’s Bennelong, Otto and Quay restaurants.
14. $2.725 MILLION: 7/62 Hastings St
High-profile powerhouses Philip John Bacon and Brent Anthony Ogilvie bought this retail property in the French Quarter Resort for $2.725 million in November 2005.
In the early 2000s, the Australian Financial Review labelled Mr Ogilvie a “serial property collector”, and that title holds true today.
A look through his property portfolio shows he and one of Queensland’s major art gallery owners Philip Bacon have secured millions in Noosa residential and commercial property.
Mr Bacon is a philanthropist and the man behind Philip Bacon Galleries, which is regarded as one of Australia’s leading art galleries and playing a “pivotal commercial and educational role in the thriving Brisbane art scene”.
Mr Ogilvie is behind Ogilvie Group, which consists of some of Noosa’s most iconic restaurants including Rickys Restaurant & Bar, Locale Noosa, Wood Fire Grill and Aromas Noosa.
One of the pair’s earlier investments was 5/49 Hastings St, Noosa Heads, which they bought in March 1993 for $590,000.
The investment has no doubt paid for itself, with long-term tenant swimwear brand moving out and menswear label Gazman moving in April 2011.
At the time, News Corp reported the deal between the tenant and Mr Ogilvie and Mr Bacon was worth $3500 per sq m, or $260,000 a year.
Also among the portfolio is a $3.2 million service station with “development potential” on Noosa Dr, which they bought in August 2017.
15. $2.7 MILLION: 2/18 Hastings Street
Another Bay Village shopping centre retail space fetched a high price when it was sold 15 years ago to Noosa Heads’ Paul and Leesa Westaway of Now Investments Pty Ltd.
The company bought the space, formerly tenanted by Lorna Jane, for $2.7 million in November 2005.
Now Investments has bought and sold a number of pricey properties in Port Douglas across the Sunshine Coast in Noosa, Yandina, Maleny and Buderim.
Now Investments currently owns 10 and 14 Maple St, Maleny which were bought for $1.685 million in October 2007.
They were early into the property market on Hastings St with the purchase of number 8/41 for $950,000 in May 1996. The property is still in Now Investments’ name.
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