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