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.
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Excavators were already up there last week knocking it all down. Cunts are taking up to many carparks.
Good friend bought her rental apartment back in the 70’s for 30k, so she bought two and put her office in the other one next door on 83rd and 3rd in Manhattan, 13th floor. That is where I stay when i visit. I hope I am in her will, but I doubt it. Great neighborhood.
I long for a huge
Surfboard preparation room
But stuck with the beach
I didn’t know beach front property could be considered “ghetto,” especially in the slums of Coolangatta.
Have you ever been there? I mean, at best the Goldy is a 3rd world country with a 1st world dress on. A pig with make up on, so to speak. Disrespect intended to my mates and family that live there.
Ya I used to live there, nothing ghetto about the place. Sure its rough around the edges but ghetto is a big ole stretch.
Not the houses, but the people who live there. Sheesh. (Again, disrespect intended to my friends and family).
Like Hunington?
“Mooch about in a sea of pickled sharks” sounds like boomer code for a geriatric orgy
Rothschilds …… I once saw competing families of the Dynasty , trying to not recognize each other at a little restaurant ‘ Chez Chantal ‘ were I was working at in the 90s at Hourtin Plage , just down the road from their sumptuous chateaux at Pauillac …. Late 80s my mate was giving them surf lessons and the head of the tribe wanted to know where he could buy a second hand bodyboard ?
Éric quite a nice fellow.
I am sure they are as wonderful as their wines .
Are real estate articles the new shark story?
It’s called sharkitecture mate. It’s lit.
One of my mates bought his joint out the back of Sorrento for $17k and it’s now worth about $2m. It happens pretty regularly.
Alternatively you hear stories like my relative who in the late 80s had a choice between buying a three story terrace in Paddington or a house in Taree, both equal in value at the time.
Taree it was.
I wonder what will happen to the old lady who lives in the bottom story of the apartments. When I stayed there last year she was very quick to leave an aggressive hand written note under the door for the crime of hanging a towel over the balcony.
Haha didn’t you read the OC rules mate. You should write back to her and say no dogs allowed off leash on common property and get the bitch evicted.
Strange when there is Old Bars at both spots ? ….. My Dad was forced to live in Paddington in the 50s and it was such a “ favela “ type dump , he used to have to say he lived next door in Woollahra .