Clive’s mansion buying rolls on
THE mansion-buying spree of on-again, off-again billionaire and wannabe politician Clive Palmer has been nearconstant since a court order in January that Chinese company Citic pay him $US350 million ($473 million) in a dispute over ironore royalties.
The mining entrepreneur has continued his long-time amity with the Sovereign Islands, where he has invested more than $20 million over the past 12 years.
Mr Palmer, 64, and members of his family hold numerous properties on the man-made islands, including five on the exclusive street where he lives with wife Anna in a mansion he bought for $9.5 million in 2010.
Property records reveal he settled his latest Sovereign special, on Kensington Mews for a relatively-modest $1.895 million, on September 10, four days before his $12 million Hedges Ave buy from developer John Potter settled.
In February Mr Palmer signed up for a $7.4 million waterfront mansion in Brisbane’s Fig Tree Pocket, formerly owned by failed Linc Energy boss Peter Bond.
That home had been passed in at auction at $9.25 million less than a year earlier.
In July he splashed $2.7 million on a mansion on Townsville’s sought-after esplanade The Strand.
The court ruling saw the compilers of the BRW rich list upgrade Mr Palmer’s estimated worth from $344 million in 2017 to $2.84 billion this year.