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Cashed up investors buy big

By Staff Reporter
11 November 2009 | 1 minute read

A cashed up property investor has spent $24 million on a string of properties in the Gold Coast.

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According to a report in the Gold Coast Bulletin, the buyer bought stock along the Promontory Precinct on the $555 million residential community called Ephraim Island at Paradise Point.

The sale is the biggest for the Island, which has enjoyed an additional $19 million in sales over the past three months.

The property developers Mirvac and The Lewis Land Group confirmed yesterday that one buyer had bought a number of waterfront home sites, several house and some villas.

The sale follows a string of big-ticket buy-ups on the Gold Coast recently.

Last week, the prestigious hotel The Sheraton was sold for just under $60 million to India’s Pearls Group.

Cashed up investors buy big
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