Therese Rein makes a whopping $3million in six months after selling her beachside investment property to Gina Rinehart
- Therese Rein has offloaded her Noosa investment property after just six months
- The property was sold for a massive $3million profit - equating to $500k a month
- Gina Rinehart bought the property and has snapped up others in the area
Kevin Rudd's wife Therese Rein has made a cool $3million profit on her beachside investment property in Noosa after selling it to Australia's richest woman, Gina Rinehart.
Rein purchased the two-storey property in September, 2021 for $6.75million before selling it to Rinehart in March for $9.75million.
The profit is equal to $500,000 for every month the title was held by the self-made business woman's company, Osprey Venture 1.
Therese Rein has made $3million profit on this Noosa home after owning it for just six months
Therese Rein, pictured here with her husband and former prime minister, Kevin Rudd, owned the property for six months before selling it to Gina Rinehart
The two-bedroom, two-bathroom home is typical of neighbouring properties, with ocean views and a track from the backyard to Sunshine Beach.
The property comes with an approved DA for a new residence Designed by Teeland Architects. It was purchased by Rinehart's Hancock Prospecting subsidiary, BV Investments on March 28, a month after the company purchased a vacant block just three doors down.
The home is typical of those in the area - and was in the same family for almost 40 years before being sold off in 2020
It features two-bedrooms and two bathrooms as well as an ocean view
There is a DA approved on the land which could see the home replaced with something much more modern
The $9.75million property has been sold three times since June 2020, after being held by the same family for close to 40 years.
In 1980 the original owners paid just $145,000 for the beachside block and sold it for $4.2million in June 2020.
The next owners decided to sell the property after just 15 months, netting a $2.5million profit when Rein snapped it up.
The home has a private track which leads to Sunshine Beach - a popular surfing spot
Rinehart's investment company has bought three properties in Sunshine Beach this year, including the vacant block.
The 512-square-metre block is directly on the beach, and was valued at just $4.2million in June, $7million short of its sale price.
Rinehart also snapped up a three-bedroom home 'five minutes down the road', setting her back $21.5million.
The home is close to Therese Rein's $17million beachfront home, which she shares with husband Kevin Rudd.
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