Clive Palmer’s mansions in the sun: $50m sunk into homes
Queensland's richest man Clive Palmer may soon put $100m into his dinosaur resort, but he's still one of our most prolific residential investors sinking $50m into mansions and land alone.
The former politician and billionaire mid week announced his intention to put $100m into revamping his dilapidated Coolum "dinosaur" Resort, after having reportedly paid off about $21m to villa residents he'd been entangled in a bitter dispute with for over eight years.
But that hasn't stopped him from continuing to play the high-end residential market in the meantime, with his list of mansions and residential properties spanning the Gold Coast, Brisbane, the Sunshine Coast and the far north of Queensland.
His most recent activity has centred around his newest base in Brisbane's Fig Tree Pocket where he owns over four hectares of prime riverfront residential land now thanks to three shrewd purchases.
He got a taste of the area when he bought a massive Fig Tree Pocket waterfront mansion off struggling Linc Energy founder Peter Bond for a heavily discounted $7.5m in January 2018.
The deal caused quite a stir because just six months earlier, Mr Bond had turned down $9.25m that was offered at auction. The auction figure was $250,000 less than Mr Bond had paid for the property, but hindsight being what it is, he probably regrets the decision to turn that $9.25m sum down earlier.
Instead, just six months later, Mr Bond was accepted a bottom-of-the-barrel offer of $7.5m from Mr Palmer for the seven bedroom, nine bathroom, seven car garage mansion.
Adding salt to the wound, the Linc Energy founder had sold his neighbouring property for $2.99m under pressure in 2017 - which Mr Palmer then picked up in June last year for $5m via his company Closeridge - leaving millions on the cutting room floor for Mr Bond.
Consolidating his slice of Fig Tree Pocket, Mr Palmer then made a $5m offer to another neighbour, securing Oakworth House with its substantial land holding and bringing his trio of neighbouring properties to $17.5m all up.
But his most expensive individual mansion by far is on the Gold Coast, a stunning Hamptons' style multi-level home complete with boxing ring that veteran developer John Potter had created for his own large family.
Mr Palmer paid $12m to secure that in August 2018 - a home many still consider as one of the best the Gold Coast has to offer, with five bedrooms, five bathrooms, an eight-car garage and a large double beachfront block at 809sq m.
He has an array of other waterfront mansions on the coast, some held with wife Ana, and some in not so schmick state, but all costing millions to hold.
Even so, it's not always about mansions for our richest man, with Mr Palmer splashing $7.9m on a massive 75.9 hectare property, which official records said had a simple two bedroom, two bathroom, single garage house on it.
He secured that Merrimac site almost seven and a half years ago and waited, before finally moving during the COVID-19 period, working up plans to redevelop the site. Those plans have so far been rejected by the Gold Coast council, but that's not likely to be the last we hear of them.
His development streak was also behind four properties bought in the Coolum area where his "dinosaur" resort is, including a three bedder on a 2,010sq m block bought for $920,000 in May last year, two titles in the masterplanned community bought two days apart for $340,000 and $875,000 in February 2014, and a 1,107sq m block picked up for just $24,000 in July 2012.
He has also picked up land holdings in Botticelli Street, Fig Tree Pocket, including two large 1,868sq m blocks zoned residential A, and huge swathes of commercial land - including two parcels that are each 60 hectares - in Craiglie in Port Douglas where his Palmer Sea Reef Golf course is located.
Here are some of the dream property holdings that Mr Palmer has chosen to keep in Queensland:
Jesmond Road Fig Tree Pocket
5 bedrooms, two bathrooms, 1.21hectares
Sale Price: $5,000,000
Sale Date: 15 Jun 2020
Zoned non-urban for residential use as a large house site.
Jefferson Lane Palm Beach
4 bedrooms, 2 bathrooms, 2 car garage, 412sq m
Sale Price: $3,900,000
Sale Date: 1 Jun 2020
Zoned residential D, the property was a former RSL Art Union prize home sitting right on the beach.
Wildash Street Southport, QLD, 4215
3 bedrooms, 2 bathrooms, 2 car garage, 1,012sq m
Sale Price: $2,800,000
Sale Date: 2 Dec 2019
Bought with wife Ana Palmer, this property is surely an investment to secure the site, with views of the Gold Coast skyline and waterways. Zoned residential A for single use dwelling, this may be the site of a future stunner.
Hampton Court Paradise Point, QLD, 4216
4 bedrooms, 3 bathrooms, 2 car garage, 778sq m block.
Sale Price: $1,785,000
Sale Date: 4 Sep 2018
Zoned residential A, there is a substantial 389sq m house on the site.
Kensington Mews Paradise Point, QLD, 4216
4 bedrooms, 4 bathrooms, 3 car garage, 702sq m block.
Sale Price: $1,825,000
Sale Date: 18 Aug 2018
Another property co-owned with wife Ana Palmer, this property is zoned Residential A with an enormous 511sq m building area.
Hedges Avenue Mermaid Beach, QLD, 4218
5 bedrooms, 5 bathrooms, 8 car garage, 809sq m
Sale Price: $12,000,000
Sale Date: 1 Aug 2018
Sitting right on the beach, this is Mr Palmer's most expensive home anywhere in the country, and is decked out in classic Hamptons style. The property was not zoned in CoreLogic records.
Mitchell Street North Ward, QLD, 4810
4 bedrooms, 2 bathrooms, 2 car spaces, 672sq m
Sale Price: $2,700,000
Sale Date: 5 Jul 2018
This enormous unit is in a mixed residential zone continues to be held by Mr Palmer despite his run-in with residents over jobs lost at the refinery he'd owned via one of his companies.
Needham Street Fig Tree Pocket, QLD, 4069
7 bedrooms, 9 bathrooms, 7 car garage, 1.21Ha
Sale Price: $7,500,000
Sale Date: 31 Jan 2018
Bought off embattled Linc Energy founder Peter Bond for much less than asking price, this property is in a non-urban zone and a massive mansion at 1960sq m.
Gooding Drive Merrimac, QLD, 4226
2 bedrooms, 2 bathrooms, 1 car garage, 75.95hectares
Sale Price: $7,900,000
Sale Date: 1 Nov 2013
A commercial property in rural zoning, with special tourist attraction land use, Mr Palmer is currently seeking approval for a major development here including waterways.
Tweedale Street, Graceville, QLD, 4075
4 bedrooms, 3 bathrooms, 2 car garage, 506sq m
Sale Price: $235,000
Sale Date: 3 May 2003
Est land value 2020: $580,000
Given his other stock, this home is a relatively modest one located in high demand Graceville where the median property price has jumped 31 per cent in the past five years.
Rio Vista Boulevard Broadbeach Waters, QLD, 4218
3 bedrooms, 1 bathroom, 2 car garage, 668sq m.
Sale Price: $0
Sale Date: 18 Nov 1997
Zoned residential A for single use dwelling, no price was put on this sale in CoreLogic records.
Pinewood Street Little Mountain, QLD, 4551
4,010sq m block
Sale Price: $100,000
Sale Date: 12 Mar 1990
Est land value 2020: $620,000
Bought 31 years ago, this is zoned rural residential settlement.
Shylock Crescent Sunnybank Hills, QLD, 4109
Sale Price: $120,000
Sale Date: 13 Feb 1990
Est land value 2020: $485,000
This was a large block of land zoned residential A when bought 31 years ago.
King Arthurs Court Paradise Point, QLD, 4216
Sale Price: $0 (Not recorded)
Est land value 2020: $3,100,000
No price was recorded for this land purchase in CoreLogic, though there is a substantial home on site.
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Originally published as Clive Palmer's mansions in the sun: $50m sunk into QLD homes