Inside the very comfortable retirement waiting for Annastacia Palaszcuzk as the country’s second highest paid premier gives up her $427,000 job
Annastacia Palaszczuk is set to enjoy a very comfortable retirement after stepping down as Premier of Queensland.
Although she will have to forego her $427,561 salary, which received a four percent increase in July and would increase by four and three percent over the next two years, she has a real estate portfolio of more than $3 million to fall back on. on.
Ms Palaszcuzk, who has been premier since 2015, lives in a four-bedroom house in the leafy suburb of Seventeen Mile Rocks in Brisbane's south-east.
The average real estate price for the suburb is approximately $900,000.
She also owns two investment units, both over 100 sq m, at Main and Sunrise Beaches in south-east Queensland.
Annastacia Palaszcuzk is leaving politics with a real estate portfolio worth more than $3 million
Ms Palaszcuzk, who has been Prime Minister since 2015, lives in a four-bedroom house in the leafy suburb of Seventeen Mile Rocks in Brisbane's south-east (pictured, Ms Palaszczuk with her partner Dr Reza Adib)
The Main Beach condo, which last sold in 2019 for $705,000, is located on the eighth floor of the Liberty Pacific Tower and has a long north-facing balcony with views over the Main Beach Tourist Park to the ocean.
The average sales price in the suburb has risen to more than $1.1 million and rents have risen 16 percent in a year to around $700 a week.
Ms Palaszczuk appears to have got an even better bargain with her Sunrise Beach unit; she paid just $370,000 in 2012, while the average unit price has fallen. rose to about $1 million.
The average rental price is approximately $625 per week.
However, Ms Palaszczuk's assets could be considered modest compared to her surgeon partner Reza Adib, who is CEO of the Brisbane Obesity Clinic.
He owns a riverside mansion in the western suburb of Indooroopilly, which sold for $6.25 million in 2010.
The Grade II listed house is 'inspired by the grandeur of traditional Italian villas from the 14th century' and features 'the finest materials from around the world'.
“This opulently palatial home is the absolute pinnacle of building construction and design,” roared the real estate marketing when it last sold.
“This expansive estate is one of the first truly authentic Mediterranean-style homes built in Brisbane and stands proudly on over half an acre of some of Brisbane's most prized riverfront land.”
Ms Palaszcuzk and Dr Adib's taste for the finer things in life attracted unfavorable headlines when it emerged she had missed a Cabinet meeting because the couple were on a luxury yacht on Hamilton Island.
Ms. Palaszcuzk's Main Beach apartment, which last sold in 2019 for $705,000, is located on the eighth floor of the Liberty Pacific Tower
The Prime Minister also made two trips abroad this year, spending more than five weeks abroad.
Ms Palaszczuk revealed that during her second break, a two-week stay in Italy, she started thinking about political retirement.
Despite being a parliamentarian for many years, Ms Palaszcuzk has missed out on the generous lifetime pension that an earlier generation of Queensland MPs received.
This benefit was gradually phased out for all elected officials after 2004, with Ms Palaszcuzk entering parliament in 2006 and taking over the seat represented by her father.
She will receive the same retirement benefits as other Queensland government employees.
As for what her future job might be, Ms. Palaszcuzk said she had nothing lined up.
The Main Beach apartment has a long balcony and offers panoramic views over the ocean
“I don't have a job,” she revealed as she announced her resignation.
“So come January – I'll also end up as a member of Inala this month – but look, I think I'll be promoting Queensland in some capacity.
'Look around you, this state has so much to offer. There are buildings everywhere, the transport systems, we make things in Queensland. Frankly, our best days are ahead of us.
'What has inspired me most are the people I have met along the way.'