Therese Rein bought a beachfront cottage which has DA approved for a new architectural residence in Noosa for $6.75m
Queensland richlister Therese Rein has cashed in big time on investments she made in Noosa, selling multiple blocks in a row for over $10m and buying two more homes for over $8m.
Ms Rein, who is married to former prime minister Kevin Rudd, sold three blocks of land and one house that she owned in the same Noosa street via an investment company in which she is the ultimate shareholder.
Therese Rein sold four blocks in Noosa – one of which had a luxury home on it – and then went on to buy two more houses as part of her 2021 property investment moves.
The two most recent sales were registered on CoreLogic as being $2.9999m each for a 760sq m block and a 1,057sq m block side-by-side. It’s unclear whether both blocks – which were sold to the same company – were part of a multi-deal for $2.9999m or if they are two separate transactions coming in at under $6m.
She also sold another block beside them measuring 1,161sq m a week earlier for $3.5m, after selling a luxury home on the fourth 913sq m block for $3.875m a fortnight earlier.
The properties were all on the same side of the street overlooking reserve land and the ocean at Noosa.
The Noosa sales were all on the same side of the street, side-by-side.
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She then went on to spend $2m on a duplex property on the Sunshine Coast, which had been listed as having its body corporate for sale. It was built 37 years ago and is one block back from the beach. Land title records have that purchase at $2m but CoreLogic is currently showing it at $3m.
Ms Rein also then went on to buy that same week another house on a 588sq m block which has views of the ocean in Noosa, spending $6.75m via another investment company she is the ultimate shareholder of.
One of the investment properties Therese Rein has bought in the Sunshine Coast which would be a great play for future development.
A beachfront cottage she bought has access to the beach via the backyard.
Former Australian prime minister Kevin Rudd and his wife Therese Rein (AAP Image/Lukas Coch)
Noosa has been a favourite of the high flying Ms Rein, who is one of Queensland’s most successful businesswomen, and who was the first partner of an Australian prime minister to keep working while her husband was in office.
Property has been a favourite investment of Ms Rein over the years, with one of her non-Noosa sales this year being a 99sq m two bedroom apartment in Norman Park that she sold for $435,000 in March.
Noosa is a favoured destination for property investment by Therese Rein and given the growth this year she has been spot on in her pick.
She and Mr Rudd have also owned houses together in Brisbane including a Hawthorne Queenslander that they sold for $195,000 in April 1994, a Balmoral home with views of the city that they sold for $287,000 in December 1994 and their beautiful Queenslander held during the prime ministership in Norman Park that they sold for $1.145m in February 2015. She currently also has one of Queensland’s most stunning beachhouses in her name bought for $17m in May last year.
Ms Rein – a psychologist by training – has been a champion of return to work causes, creating her millions off her Work Directions company which later became Ingeus designed to help those injured at work find new jobs.
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Sales on the same street:
21 Aug 2021 $3,875,000 913sq m
6 Sep 2021 $3,500,000 1,161sq m
19 Sep 2021 $2,999,900 760sq m
19 Sep 2021 $2,999,900 1,057sq m
(Source: CoreLogic)
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