Billionaire Bob Ell sells at Noosa
Bob Ell, the billionaire property developer, has sold at Noosa, which is emerging as one of the hottest domestic destination property markets in the pandemic, given international travel restraints.
He and wife Bridget sought an ambitious $11.5 million and pocketed $9.625 million through local agent Tom Offermann.
They built the six-bedroom holiday home after they snared the Noosa Parade site in a post-global financial crisis distress sale in 2011 for $2.75 million. The prior owner had paid $4.85 million in 2007. Their construction costs were estimated at $5 million.
The Budds Beach-based father-of-seven, who heads Leda Holdings, retains Addenbrooke in Bellevue Hill as a Sydney bolthole. It was bought from Denis O’Neil for $30 million in 2015.
This article was first published in the Sunday Telegraph.
