How to get rich without trying etc.
The Newcastle surfer and shaper Mark Richards won four consecutive world titles from 1979 through to 1982 whereupon he retired at the then ancient age of twenty-four.
The following year Richards celebrated his return to full-time shaping and a busy life managing the fam’s surf shop in Newy by buying into a low-rise block of ghetto apartments at 1 Petrie St, Coolangatta, with point-blank views of pre-Supabank Snapper Rocks and a short stroll up the hill from D-Bah.
Cost him thirty-two and a half gees, about half the state’s average for apartments at the time. A conservative buy, you might say, a little holiday bolthole for he and his kids to enjoy.
Four decades on that little joint was bought, last December, for $2.05 million, when self-confessed VAL Paul Gedoun bought the entire block of six apartments for twelve-million dollars.
Gedoun promised to demolish Rainbow’s End and erect a $A70-mill “landmark apartment building” on the site.
“It’s a landmark site and I want to deliver a landmark project that does the site justice. I love everything about it and can’t believe I’ve been lucky enough to buy it,” Gedoun told The Gold Coast Bulletin.
The building, which is called Flow, will have all the usual markers of wealth, heated pool, daybeds, steam room, gymnasium, personal surfboard locker rooms, fire pit, even a “surfboard preparation room” where locals might be employed to fix their masters’ two-thousand dollar longboards and where lucky children with whisky breath will be free to roam and little dogs sourced from Mexico will be trained to walk on their hind legs.
Here’s the price range.
2 bedroom 100sq.m – 113sq.m from $1,175,000
3 bedroom 160sq.m – 200sq.m from $2,300,000
Oceanic Residences 241sq.m – 289sq.m from $3,150,000
Sub- penthouses 524sq.m from $6,450,000
The sorts of places that send a message to the world that says, and I’m quoting Hannah Mary Rothschild here, “I have time to subcontract all the menial, dull chores out to others… I am time-rich. I can mooch about in a sea of pickled sharks.”
MR ain’t dumb. Word is he’s already rolled his windfall into of the new joints.
Inspect the sales literature here.