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Gina Rinehart’s latest property drop as Australia’s richest person splurges $100m on a city
- Gina Rinehart bought a new building
- The mining magnate expanded the real estate empire
Billionaire mining magnate Gina Rinehart has shelled out more than $100 million for a 14-story office building to add to her sprawling real estate empire.
The richest person in the country dropped a staggering amount at the compound at 70 Eagle Street in the CBD of Brisbane, Queensland.
It is the latest addition to its property portfolio which includes $75 million worth of properties along the Sunshine Coast with apartments in Noosa and Brisbane.
The building consists of a three-level underground car park, commercial premises on the ground floor and 11,000 m² of offices on the upper part.
Billionaire mining magnate Gina Rinehart has shelled out more than $100 million for a 14-story office building to add to her sprawling real estate empire.
The richest person in the country dropped a staggering amount at the compound at 70 Eagle Street in the CBD of Brisbane, Queensland.
The $100 million price tag is slightly less than the amount paid by US fund group Pembroke when the company bought the building in 2014.
Ms Rinehart’s company, Hancock Prospecting, said the building would be renovated and had “excellent connectivity” to the transport network.
“A building redevelopment program is planned, which will relocate the building and ensure it is a highly attractive location for businesses and visitors,” the company said.
“Hancock’s acquisition of this property is a continuation of his investment in Queensland, where Hancock has large investments in energy through Senex, his joint venture with POSCO, along with extensive farming operations and a growing office in Brisbane.” .
Ms Hancock bought the property as Brisbane experiences a $45 billion infrastructure boom ahead of the 2032 Olympics. the aussie informed.
Spikes in commodity prices have seen Ms Rinehart sailing into 2023 firmly entrenched as Australia’s richest person, according to the latest report. Australian Financial Review rich list.
The year before, approximately $2 billion was added to Ms. Rinehart’s fortune to bring her coffers to swell to $35.9 billion.
His private company has made nearly $20 billion in profit in the last four years alone.
A 531 square meter site owned by Ms Rinehart located in Noosa’s Sunshine Beach is selling for $17.2 million after being bought for $11.2 million last February
In early January, Rinehart expected to sell one of his properties in Noosa, on the Sunshine Coast, for $17.2 million.
His company had bought the 531-square-meter Noosa site, on Queensland’s Sunshine Coast, in February 2022 for $11.2 million.
The site faces Sunshine Beach, a favorite with tourists in the Noosa region north of Brisbane.
The Park Crescent site was listed by exclusive Noosa real estate agent Paul Offermann, and the listing comes with its own cleverly produced video.
“He covets one of the absolute last remaining beach spots in Sunshine Beach,” agent Rebekah Offermann says in the video.
‘After savoring the sunrise from your front trellis, jog over to the shops at Sunshine Beach for coffee, then spend the day on the glistening white sand out front.’
The site is marketed using plans for a four-story ‘state-of-the-art home’ designed by local architect Paul Clout, who specializes in ‘resort’ style homes.