Gina Rinehart has splashed over $76m on Qld property.

Ann Lindner - Thursday, July 21, 2022

Australian richlister mining magnate Gina Rinehart has splashed over $76m on four homes in one Qld suburb within the space of a year.

Ms Rinehart made Qld richlist businesswoman Therese Rein a $9.75m offer she couldn’t refuse for a beach house in Park Crescent, Sunshine Beach in March. Ms Rein had paid $6.75m for the property on the beach just six months earlier, in September 2021, but agreed to on-sell it off market after the 44 per cent higher price offered by Ms Rinehart’s company.

The Park Crescent house, built in 1980, has stunning views across Sunshine Beach and has DA approval already on it. It is located just three doors down from a beach house Ms Rinehart bought for $11.2m in February this year.

Ms Rinehart’s also bought an Arakoon Crescent property in Sunshine Beach for $21.5m in February, which was one of the most expensive home sales in Qld in the 2021/2022 year.