Brisbane entrepreneur Michael Dempsey buys Mermaid Beach cottage
Title TattleDecember 7, 2020
Brisbane entrepreneur Michael Dempsey has expanded his holdings at Mermaid Beach on the Gold Coast.
Dempsey, who founded and sold Ezidebit, an innovative payment method, paid $2,165,000 for a 1970s cottage on a 410 square metre corner block 40 metres from the beach.
The two-storey house with two bedrooms last traded for $1,315,000 in 2011.
Harcourts Coastal agent Katrina Walsh sold the Albatross Avenue dress circle property.
Dempsey sold Ezidebit to US-based Global Payments for over $300 million in 2014, and pocketed $150 million himself.
He owns $10 million plus adjoining holdings on nearby Surf Street.