Mayor’s back in Par­adise

The Gold Coast Bulletin - - NEWS - QUENTIN TOD

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.

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