Financial services syndicate buys Trinity Beach retreat from fund management pioneer Otto Buttula
Trinity Beach Palace, the luxury holiday rental in Far North Queensland, has sold to a syndicate involved in the financial services industry.
They include Jason Hedlund, founder and managing director of the Canberra-based Financial Integrity Group, along with Ivan Juric, Stephen Bates and Stephen Thompson.
The retreat of Otto Buttula, one of the pioneers of boutique fund management, and wife Virginia, had been listed since 2016.
Abercromby's Armadale agent Jock Langley took over the listing and secured the sale, believed to be around $6 million, but officially settled at $5.5 million.
The five bedroom private beachfront estate, north of Cairns, was bought by the Buttula's in 2008, a year after Otto sold IWL, the online share brokerage he co-founded, to Commonwealth Bank.
There's two outdoor bars and a pool on the 7,585 square metre absolute beachfront parcel.
They'd spotted the tropical haven after seeing its picture in newspaper marketing when it was offered by Josef Roberts who introduced Australians to Red Bull.
Trinity Beach Palace had been fetching $1,250 a night on holiday rental sites, having become a holiday let since the Buttula's relocated to Brisbane's Ashgrove.
It's around 1,000 square metres and has a safari-themed den, a library, gym, sauna and golf practice range.
