A $4M RETURN ON ‘90S BUYS

AN investor who spent a tad over $600,000 in the 1990s on two adjoining homes near the highway at Broadbeach has come out more than $4 million ahead.

John Watson, who has a Jakarta address, bought the homes in 1993 and 1998 and they’re now on the doorstep of the light rail.

Andrews Projects swooped in July last year, did a deal with John, and has just paid him $4.975 million for his 1214sq m holding, which is to take the 25-floor tower Encore.