Mayor’s back in Paradise
MAYOR Tom Tate has “snipped” his way back into what for many years was his home territory, Paradise Waters.
Mr Tate, who left the suburb two years ago, has bought a waterfront home for $3.55 million – it was on the market at $5.5 million in 2016.
An agent who operates in the suburb yesterday summed up the purchase: ‘I think the mayor got a very good buy’.
The house, at 124 Commodore Dr, is the ninth Mr Tate and wife Ruth have owned at Paradise Waters since 2002.
They have an apartment in one of the Kings Row buildings.
The new Tate house adjoins a three-title riverfront site which cost Chinese businessman Wen Bingrong $9.2 million in 2016 and on which he plans a giant chateau-like house. Mr Tate yesterday would not comment on his latest buy nor would the agents who handled the sale, Bob and Russell Rollington, of Surfers Paradise First National.
The buy comes on the heels of the Tates taking their current home, a 1400 sq m riverfront mansion at Sorrento, off the market. It has a land area of 5261 sq m and was being marketed as a potential eightlot subdivision site.
The new Tate buy has five bedrooms, three bathrooms, a cinema, and plenty of parking for the mayor’s Ferrari – it has garaging for four cars.
The property was sold by company Fatidin, linked to Sydney businessman Oscar Gonzales, who bought it for $4.1 million in 2015.
It had been the family home of former lawyer John Quinn, who in 2014 struck a $300,000 deal with creditors over debts of $93.8 million.