Property developer Jack Ray and Natalie Gruzlewski looking elsewhere on Mermaid Beach despite copping loss
Experienced property developer Jack Ray has become the latest Mermaid Beach millionaire’s row sales victim.
His two-bedroom Hedges Avenue beachfront cottage has been sold after being listed with $4.2 million-plus hopes through Michael Kollosche at Ray White Broadbeach.
No sale price has been revealed.
He had paid $5.85 million for the property in September 2008, buying from a company linked to another high-profile developer, Mike Moorhead.
Moorhead had done a full renovation on the house, so Ray’s only additions were to enclose the garage.
The home is on a 405-square-metre block opposite the Republic Café.
The cottage’s peak sale was $6.75 million in 2007 when sold by hypnotherapist Carolyn Balanda, having previously traded at $5.97 million in 2006.
Moorhead and Balanda had also been involved in a 2007 sale when she sold to Moorhead on Albatross Avenue for $8.45 million.
Moorhead then sold it for $7 million in 2008, and Kollosche had the 782-square-metre vacant block recently listed at $5.9 million plus until its withdrawal earlier this month.
When he listed last October Ray indicated the likelihood that he would buy again in Mermaid Beach possibly on nearby Albatross Avenue with rebuilding intentions with his partner, high-profile television personality Natalie Gruzlewski, the host of The Farmer Wants a Wife.
