Hancock Prospecting's Gina Rinehart buys $18 million Brisbane River residential holding

Two adjoining Brisbane riverfront residential properties have been bought by Hancock Prospecting's Gina Rinehart.

The paperwork lodged last Wednesday does not show the sale price of either purchase, but reveals the purchasing company, Wingfield Avenue Pty Ltd, a subsidiary within the mining company with substantial investments in WA and Queensland.

The vast Aaron Avenue, Hawthorne property, with tennis court and city views, in Brisbane’s inner east, was marketed privately by the manufacturing businessman Greg Nunn and his wife Alwyne.

The News Ltd local paper, which did not given any reason behind its acquisition, has estimated it was a $14 million purchase.

Property Observer is also aware Wingfield Avenue Pty Ltd has bought an adjoining vacant block (marked in yellow above). The property, had previously been marketed with a bungalow called Riverview in 2011.

It came this time with reputed $4 million price estimates.

The possible $18 million consolidation would be the highest paid for a house in Brisbane, but a spokesman for Mrs Rinehart has subsequently warned real estate agents against “big-noting” themselves by reporting figures yet to be settled.

Brisbane’s record residential sale price of $11.2 million was set in 2007 for a hilltop property on Eldernell Terrace, Hamilton.

Last month the Brisbane pub baron Andrew Griffiths sold his Ascot residence for $10.2 million through estate agent Gail Havig.

It was the highest residential property sale in Brisbane in seven years with Windermere on 4,700 square metres on Sutherland Avenue.

Earlier this year at Fig Tree Pocket, Barrambin, at 15 Ningana St, sold in just 20 days for $8.25 million, the highest price paid for a house in Brisbane since the 2011 floods.