Cash­ing in on the min­ing mil­lions

The Weekend Australian - Review - - Primespace - Mau­rice Dun­levy

AT the dizzy­ing heights of man­sion sales, there’s none big­ger than the 2500sq m Perth river­front home owned by min­ing heiress An­gela Ben­nett, Aus­tralia’s sec­on­drich­est wo­man.

Sit­ting on a 7567sq m block, which alone is worth $ 35 mil­lion, the Mos­man Park house that cost $ 20 mil­lion to build will be sold to a su­per- rich buyer will­ing to part with at least $ 70 mil­lion.

At that price, it’s a sale that will not only more than dou­ble the $ 29 mil­lion Aus­tralian house price record cur­rently held by a wa­ter­front man­sion in Syd­ney’s Vau­cluse, but will fo­cus world at­ten­tion on the West Aus­tralian cap­i­tal and its min­ing and re­source- fu­elled econ­omy.

It is there­fore no ac­ci­dent that Ben­nett, a mother of seven, is one of the big­gest sin­gle ben­e­fi­cia­ries of that boom.

She is one of two chil­dren of Lang Han­cock’s busi­ness part­ner, the late Peter Wright.

Ben­nett and her brother, Mar­garet River vine­yard owner Michael Wright, get their money from a half­share of roy­al­ties paid by min­ing gi­ant Rio Tinto on iron ore mined in the Pil­bara.

With her per­sonal for­tune es­ti­mated at about $ 1 bil­lion, the $ 7.95 mil­lion she paid ear­lier in the year for a Perth in­ner- city pen­t­house was small change.

High- profile Perth real es­tate agent Wil­lie Por­te­ous ( hus­band of Rose) has the job of sell­ing the three­level Mos­man Park man­sion, which is not far from where Lang Han­cock built his fa­mous Prix d’Amour man­sion in the 1980s.

The 43 Saun­ders Street Ben­nett com­pound in­cludes a guest house, boathouse and private jetty.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.