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World surfing champion turned property tycoon Mick Fanning set to reap multi-million dollar profit after listing one of his three apartment blocks on Coolangatta’s “golden mile”!

Be real quick! Will be sold etc.

The Irish soccer legend George Best put it best, I think, when he said, “I spent a lot of money on booze, birds, and fast cars. The rest I just squandered.”

Mick Fanning, who won world titles in 2007, 2009 and 2013 before retiring in 2018 after seventeen years on tour, has pissed away his millions on real estate and various business plays, including Balter Beer which sold one year ago for a rumoured two-hundred mill.

Now, Mick, who turns forty in June, is selling one of the three apartment blocks he owns on Boundary Street, Coolangatta, the strip that divides Coolangatta, in Queensland, and Tweed Heads, in NSW, and footsteps from Snapper Rocks’ Supabank.

Mick bought the joint at 213 Boundary Street, Coolangatta, for $3.1 million in 2007 and turned the old red-brick fifties build into something a little easier on potential buyers’ eyes with soothing vanilla interiors, black faucets, wooden flooring and with breeze-block walls enclosing patios.

Square Black Taps, A Lesson In Edgy Chic.

The agent calls it a “luxurious homestead.”

There are two three-bedroom apartments, each with its own studio or granny flat, two garages, and the building squats on five-thousand square feet. 

The selling agent says y’can rent the big apartments out for eight hundred dollars a week and you’ll get five hundred for the tiny joints underneath ‘em. 

Inspection dates, times, here. 

Be quick.

There’s a fever for real estate on the Gold Coast at the moment, a frenzy bigger than bitcoin or Tesla, with even shitty old houses on streets famous for their cavalcades of human detritus selling for millions. Gonna be sold real quick.

Mick also owns the building next door, which he bought for 2005 for $1.39 million and another two doors down, bought for $1.2 million in 2006. 

Welcome to 213 Boundary Street, Coolangatta | LJ Hooker Southern Gold Coast
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astro

This here was a placeholder.
Nothing to see

Captain Goodvibes

Isn’t that like $75 US?

nyc surfing golden boy

who’s the “fuken jew” now mick??

channelbottom

SURPRISE CUNCE!

https://uploads.disquscdn.c…

ValiantScorn

Looks like a starter flat for wankers! What is it, approx. 800sqft? The penal island’s “top shelf”.

Derek Hynd's Missing Fins

*2013

astro

St Mick will prolly donate the profits to the down-at-heel and needy.
Bless his hunchbacked heart.

Billy Hunt

Probably s3lling up to invest in bitcoin

Gumby's Left Nut

Or gold

Billy Hunt

Ok I’ll bite, why?

Italo Post Heat Interview

Medical grade silver

Ricky Spanish

Rich or poor, it’s nice to have money

Otto

Do you Aussies have Capital Gains tax liability?

The MHL Buoy

On principle residence no but investments yes. He or an entity he run is probably up for 22.5% of the gain.

longtom

still put a pile away though on the sale.

The MHL Buoy

Apparently not…

Low wide stinkbug stance

Just need to move in to it for one day and it’s his home for tax purposes and no cgt.

The MHL Buoy

Nope – he rented it out for more than 6 years. If he moved in the CGT would be apportioned. Alternatively talk to his accountant.

Low wide stinkbug stance

Pretty sure you only need to live in an investment property once in a period of 7 years. That may well be the reason he’s selling it now, to weasel out of the CGT. But it’s a while since I talked to my accountant about such things.

Wiggolly's Paddling Style

Yep. But can be offset by capital expenditure. According to the invoices issued by Mick Fanning Bathroom Furnishings Pty Ltd, Mick spent $300k on the towel rails alone.

@surfads

Not the first person to blow their money on rails at the Goldy

Wiggolly's Paddling Style

Yeah we’ve all done it.

channelbottom

A truly odious business.

Beef & Beer

George Best, now THERE was a man to admire.
These pro surfer types are ALL so laaaame…

Lemon Next to the Pie

Real estate? Fuck that shit. I got some fake estate if anyone wants to invest?

Wiggolly's Paddling Style

Our dog found a little Gucci wallet with 5 baggies in it last week. Good to know some wog prick named Vasili or Dimitri probably tried to OD on Prosecco to numb the pain of losing it. Anyway. I sold it at the skate park for $950. I know I’ve taken a substantial hair cut on the price but it was a windfall gain so who cares. Anyway. Tell me more about this fake estate. I am interested.

ValiantScorn

That dog is a legend!

Wiggolly's Paddling Style

I’ve heard he’s had to sell up a few properties to buy back his undies from that stalker chick. Did you ever go on that date with her, Doz? Good time to get in just before she gets minted. Then just rinse all her money through the pokies and be on your way.

The Bitchy Crab

A pal of a pal had a sizzling Facebook exchange with her. Seems nice.

Wiggolly's Paddling Style

Surely that bloke will provide BeachGrit with a copy of the transcript? Maybe a slab of that crap Balter stuff will sweeten the deal.

astro

Wiggsy, i know ya love details but that thing is a fucken horror head.
Not sure any good would come out of a reveal.
Dreks “nice” is relative, I think.


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