How Peter Dutton has made a killing on the property market

How Peter Dutton has made a killing on the property market

Defence Minister Peter Dutton has cashed out on his massive property portfolio, banking almost $4.6 million from deals in the last couple of years, while still also owning around another $4.5million worth of real estate.

Parliamentary and property records show the former Queensland police officer has made huge sums investing in the booming real estate market over recent years.

Until recently, the family’s property buy-up included:

  • A luxury beachfront home on millionaire’s row on the Gold Coast
  • A Townsville shopping centre
  • A resort home on Moreton Island
  • A sprawling two hectare family home on Brisbane’s outskirts 
  • An apartment in Canberra 
  • And an upmarket investment property in Brisbane’s CBD. 

    In the last couple of years however, the Duttons have sold off much of their empire and pocketed $4.6million in profits.

    He sold his holiday home in Millionaire’s Row on the Gold Coast for $6million in February 2021, after it was previously passed in at auction for $4.35million.

    Mr Dutton, 51, and his wife Kirilly bought the Jefferson’s Lane home for $2.35million in 2014, and more than doubled their money in seven years, pocketing a $3.65m profit.

    However even the hefty price that they snapped it up for was something of a bargain. The previous owner had paid $2.5million for it 12 years earlier in 2002.

    The stunning four-bedroom, three-bathroom beachside mansion sits on 546 square metres of land, with uninterrupted views of the sand and sea.

    The back garden has a gate leading straight onto Palm Beach and boasts rich and famous neighbours including surfer Kelly Slater and Seven media boss Ryan Stokes.

    Prior to its sale, it was being rented out by the Duttons for up to $1500 a week.

    The Duttons have also sold their family estate in Camp Mountain, north west of Brisbane, getting $1.8million for the six-bedroom, two hectare property in 2020.

    They had lived there with Mr Dutton’s two sons Harry and Tom and daughter Rebecca, since buying it in 2003 for $710,000, netting the family a $1.09million profit.

    They have since bought a secluded 68-hectare cattle farm, 30km to the north, near Dayboro, for $2.1million in July 2020.

    He recently ran foul of locals who reportedly tried to use a waterhole on the property but were kicked off the land by Australian Federal Police bodyguards assigned to protect the minister.

    Mr Dutton also owns an investment property in the Tangalooma resort in Moreton Island and an apartment in Canberra.

    However, the the former policeman has experienced some losses and managed to lose $147,000 when he sold a luxury unit in Spring Hill in Brisbane’s CBD.

    He bought the modern two bedroom, two bathroom apartment in the Art Series building The Johnson in 2016 as an investment property for $629,500.

    But five years later, he sold the deluxe unit – which covers a generous 153 square metres – for $482,000 last May, after just nine days on the market.

    However, against the sales of the rest of his extensive property empire, the loss is like a drop in the ocean.

    Mr Dutton has been building the extensive property empire for 30 years since he set up a building company with his father Bruce while still a cop with Queensland Police.

    The father and son construction company developed, bought and sold a string of properties, and established a series of child care centres.

    They then leased the properties out to child care companies, including the now defunct ABC Learning Centres,  for up to $100,000 a year.

    Mr Dutton’s wife Kirilly also ran two other Brisbane child care centres – Camelia Avenue Childcare Centre in Everton Hills and Bald Hills Childcare Centre.

    The property in Bald Hills which he and his father bought in 2000 for $235,00 from the Roman Catholic Archdiocese of Brisbane was later sold for $1.34million in 2013.

    The childcare network sparked allegations in Parliament in 2007 that he had a conflict of interest overseeing a childcare tax rebate, but the claims were rejected by PM John Howard.

    The child care centres were run through RHT Investments (QLD) which has Mr Dutton as a trustee and which also owns Edison Plaza Shopping Centre in Townsville.

    The shops in Wulguru were bought in 2016 for $760,000 and were put on the market last August for $1.1million but have so far not attracted a buyer.

    Daily Mail Australia has contacted Mr Dutton’s office for comment.

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