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Anna Palmer, wife of Clive Palmer, in one of her properties on the Gold Coast. Picture: Lyndon Mechielsen
Lady billionaire by marriage Anna Palmer isn’t as rich as husband Clive, but could teach a few money lessons with her rental passive income topping $1m a year.
The mega landlady has 13 residential properties in her name – four of which are with one of Australia’s richest men Clive Palmer whom she married in 2007 – with a combined purchase price of over $47m, let alone what they may be worth today.
Her annual rental passive income – for the properties that have previously been put up for rent, not the homes kept for private use – is over $28,000 a week, amounting to over $1.46m off just the residential property market.
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Celebrating Clive Palmer’s 70th birthday in March this year. Picture: Lyndon Mechielsen/The Australian
A rare glimpse into the billionaire passive income lifestyle came with the listing for rent of a property in her name on the Gold Coast’s Broadwater. Bought for $1.7m seven years after she married Mr Palmer, the home is back on the rental market after Mrs Palmer’s put it through a renovation which has jacked up the value and boosted the rent by $15,600 annually.
The four bedroom, four bath waterfront home has been listed at $1850 a week after the refurbishment, compared to $1550 a week during the pandemic and $1250 in 2019.
Mrs Palmer has been renovating and upgrading several properties. Picture: Lyndon Mechielsen.
It has all the trappings of a good executive residence: large kitchen, formal and informal living areas, media area, master bedroom with Broadwater views, guest suite, large outdoor entertaining space, resort style in-ground pool, change room and bathroom, pontoon, room to park the caravan or boat plus automatic security gates.
One of the Palmer’s longest held properties – a massive family home on over 2,000 square metres – is now in Anna Palmer’s name at Little Mountain, bought for $100,000 in 1990. Rental income during 2013 to 2019 was in the order of $610-700/week.
One of the investment properties on the Gold Coast listed at $1,850 a week last year.
Mrs Palmer has a three bedroom property in one of South East Queensland’s most affordable suburbs Springwood, bought in 2003 for $210,500 – three years before her first husband Andrew Topalov died of cancer. No rental information is available for the property.
Then there are seven stunning luxury homes in Paradise Point – three of which are five bedroom stunners and four four-bedders, mostly on the water.
One of the five bed waterfront homes was bought for $2.3m the year she married Mr Palmer – and listed for rent at $1400/week in 2020; with Mrs Palmer going on to buy a neighbour two doors away for $1.785m as well which rents circa $1750/week.
Anna Palmer with husband Clive during an event at the National Press Club in Canberra two years ago. Picture: NCA NewsWire / Gary Ramage
The other Paradise Point properties now in Mrs Palmer’s name are a five bed 421sq m home on the water in Guineveres Place – bought for $1.31m with most recent rent at $1200/week; another $1.5m five bed house purchased at King Arthurs Court was fetching $1700/week as far back as 2017; and a $1.825m four bedder’s last public rental figure was $1200/week in 2013.
Her most recent purchase in Paradise Point was a $2.85m home with deep water access and a larger-than-usual mooring – bought off the Noosa Springs Beverage Company in October last year. She could get rent in the order of $2100 for the home which is what it was fetching under the previous owners.
Mrs Palmer renovated the home in Southport into a double storey Hamptons retreat.
Mrs Palmer is also the listed owner of a $140,000 Yaroomba unit; a $2.8m four bed waterfront house in Southport that she refurbished to Hamptons style – which had commanded rent of $2200/week pre-upgrade; plus a $2.675m three bedroom apartment in Brisbane’s Riparian Plaza Apartments in Eagle Street.
The most expensive property on Mrs Palmer’s list is a four bedroom home bought with husband Clive in February this year for a massive $28m in Mermaid Beach, which could provide significant rental income if they chose to list it for tenancy.
The post Lady billionaire Anna Palmer’s astounding passive income stream appeared first on realestate.com.au.
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