The two-bedroom cottage sold by Therese Rein’s investment company for $9.75 million is set on 588 square metres with a goat track to Sunshine Beach.Credit:
The sale delivered the self-made businesswoman a capital gain of $3 million during her brief ownership,equating to $500,000 for each month that she owned it.
The recent off-market sale of the two-bedroom house on Sunshine Beach was lodged in the name of Rinehart’s Hancock Prospecting subsidiary,BV Investments.
Rinehart has become one of Sunshine Beach’s most appreciative buyers since last year,when she reportedly bought a $34 million house from the Charlton family.
Therese Rein scored a capital gain of $3 million in six months’ ownership of a Sunshine Beach cottage.Credit:Andrew Taylor
That record-setting sale is yet to be confirmed by settlement,but meanwhile Rinehart’s BV Investments company has clocked up a total of more than $42 million worth of Sunshine Beach real estate this year.
In February,the corporate entity bought a 530-square-metre patch of beachfront land up the road for $11.02 million,just 18 months after the same grassy knoll traded for $7.05 million.
And a house ready for renovation on a prized double beachfront block was purchased for $21.5 million from veteran backpacker hostel proprietor Errol Rumpf,just a stone’s throw down the beach from Rudd and Rein’s own $17 million beachfront home.