Anna Palmer, wife of Clive Palmer, in one of her properties on the Gold Coast. Picture: Lyndon Mechielsen
Lady billionaire by marriage Anna Palmer isn’t as rich as husband Clive, but could teach a few money lessons with her rental passive income topping $1m a year.
The mega landlady has 13 residential properties in her name – four of which are with one of Australia’s richest men Clive Palmer whom she married in 2007 – with a combined purchase price of over $47m, let alone what they may be worth today.
Her annual rental passive income – for the properties that have previously been put up for rent, not the homes kept for private use – is over $28,000 a week, amounting to over $1.46m off just the residential property market.
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Celebrating Clive Palmer’s 70th birthday in March this year. Picture: Lyndon Mechielsen/The Australian
A rare glimpse into the billionaire passive income lifestyle came with the listing for rent of a property in her name on the Gold Coast’s Broadwater. Bought for $1.7m seven years after she married Mr Palmer, the home is back on the rental market after Mrs Palmer’s put it through a renovation which has jacked up the value and boosted the rent by $15,600 annually.
The four bedroom, four bath waterfront home has been listed at $1850 a week after the refurbishment, compared to $1550 a week during the pandemic and $1250 in 2019.
Mrs Palmer has been renovating and upgrading several properties. Picture: Lyndon Mechielsen.
It has all the trappings of a good executive residence: large kitchen, formal and informal living areas, media area, master bedroom with Broadwater views, guest suite, large outdoor entertaining space, resort style in-ground pool, change room and bathroom, pontoon, room to park the caravan or boat plus automatic security gates.
One of the Palmer’s longest held properties – a massive family home on over 2,000 square metres – is now in Anna Palmer’s name at Little Mountain, bought for $100,000 in 1990. Rental income during 2013 to 2019 was in the order of $610-700/week.
One of the investment properties on the Gold Coast listed at $1,850 a week last year.
Mrs Palmer has a three bedroom property in one of South East Queensland’s most affordable suburbs Springwood, bought in 2003 for $210,500 – three years before her first husband Andrew Topalov died of cancer. No rental information is available for the property.
Then there are seven stunning luxury homes in Paradise Point – three of which are five bedroom stunners and four four-bedders, mostly on the water.
One of the five bed waterfront homes was bought for $2.3m the year she married Mr Palmer – and listed for rent at $1400/week in 2020; with Mrs Palmer going on to buy a neighbour two doors away for $1.785m as well which rents circa $1750/week.
Anna Palmer with husband Clive during an event at the National Press Club in Canberra two years ago. Picture: NCA NewsWire / Gary Ramage
The other Paradise Point properties now in Mrs Palmer’s name are a five bed 421sq m home on the water in Guineveres Place – bought for $1.31m with most recent rent at $1200/week; another $1.5m five bed house purchased at King Arthurs Court was fetching $1700/week as far back as 2017; and a $1.825m four bedder’s last public rental figure was $1200/week in 2013.
Her most recent purchase in Paradise Point was a $2.85m home with deep water access and a larger-than-usual mooring – bought off the Noosa Springs Beverage Company in October last year. She could get rent in the order of $2100 for the home which is what it was fetching under the previous owners.
Mrs Palmer renovated the home in Southport into a double storey Hamptons retreat.
Mrs Palmer is also the listed owner of a $140,000 Yaroomba unit; a $2.8m four bed waterfront house in Southport that she refurbished to Hamptons style – which had commanded rent of $2200/week pre-upgrade; plus a $2.675m three bedroom apartment in Brisbane’s Riparian Plaza Apartments in Eagle Street.
The most expensive property on Mrs Palmer’s list is a four bedroom home bought with husband Clive in February this year for a massive $28m in Mermaid Beach, which could provide significant rental income if they chose to list it for tenancy.
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