Mining magnate Clive Palmer snaps up Sunshine Coast resort
Jonathan ChancellorJuly 6, 2011
Mining magnate Clive Palmer, Queensland's richest man, has bought the Hyatt Regency resort at Coolum on the Sunshine Coast.
"The Hyatt Regency is one of the state's leading resorts and has a rich history," Mr Palmer said.
The purchase price has not been revealed but it was expected to fetch considerably more than the recently sold $35 million Sheraton Mirage at Port Douglas, which Mr Palmer gave consideration to buying.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
