Pauline Hanson, who’s riding a fresh wave of popularity as One Nation leader, has secured a mega payday off a strategic move made during the pandemic.
One Nation leader Senator Pauline Hanson has gone under contract for a major payday. Picture: Tracey Nearmy/Getty Images.
Ms Hanson had put $580,000 down on two blocks of prime land with a view to developing unit blocks in the stunning Queensland coastal town of Yeppoon.
Now the site, which is the width of an entire town block and just metres from the beach, has hit its mark.
MORE: One simple trick saving Aussie homeowners $74k
Rents to explode as federal budget targets property: Council
Ms Hanson has flipped her investment. Picture: Asanka Ratnayake/Getty Images.
Ms Hanson had put the property on the market 56 days ago - covering two large lots of 784 sqm and 799 sqm which she’d bought in August 2021, about 55 months ago.
Now, without lifting a finger, Ms Hanson is set to secure a strong profit, given Yeppoon alone has seen median prices jump 95.6 per cent for houses and 70.5 per cent for units since the pandemic - but Cooee Bay, where she invested in the land, had grown even more, with median prices up 89.3 per cent for houses and a whopping 147.5 per cent for units.
Those are the kind of numbers her agents at Elders Real Estate Yeppoon Ravi Ramswarup and Jack Hughes would have had to contend with in a market hungry for prime development sites.
Mr Ramswarup confirmed the Cooee Bay land has now gone under contract, but was unable to disclose any further details including price and whether they sold individually or together.
MORE: ‘Political suicide’: Investor’s brutal call on tax reform
Zero reno, $700k profit in a year: Homeowner’s massive windfall
Two blocks of prime land in Cooee Bay were put up for sale by Pauline Hanson.
The site is one of two properties Ms Hanson has declared as her real estate interests, having sold her Brisbane pre-war workers cottage in Silkstone in 2001 for $71,000. She had paid $49,000 for the property in 1988, and RPData estimates put its value at an astounding $921,000 today for the current owner.
The listing said the type of block she sold was “rarely offered in one of Yeppoon’s most sought-after coastal suburbs”.
“With coastal land in Cooee Bay becoming increasingly scarce, this is a rare chance to secure a premium position and capitalise on one of the Capricorn Coast’s most desirable lifestyle destinations.”
It was described as “perfectly positioned just moments from the shoreline” with easy access to Cooee Bay Beach, scenic coastal walking tracks, local parks and family-friendly foreshore areas.
MORE: 85 yo builder’s medieval castle faces 100-home subdivision
Shock as rents fall in almost 1 in 10 suburbs
Leader of One Nation Senator Pauline Hanson has attracted growing support. Picture: Hilary Wardhaugh/Getty Images.
“Everyday conveniences are close at hand, with schools, shopping centres, cafes, medical facilities, and Yeppoon’s vibrant CBD all just minutes away.”
Daniel Park is also just across the road in a tightly held neighbourhood filled with quality homes.
“Whether you envision building your dream beachside home, creating a coastal retreat, or exploring the potential for investment units or dual occupancies (STCA), these lots offer flexibility and future upside in a proven location.”
The sale comes amid wide-ranging speculation over the future of capital gains tax concessions for property investors and its impact on the market.
Ms Hanson’s star continues to rise, with Australia’s richest person Gina Rinehart now among her fans, reportedly giving over $300,000 to One Nation coffers and also taking One Nation supporters to Donald Trump’s estate at Mar-a-Lago late last year.
English (US) · 