20 February 2017

High profile politician buys Townsville shopping complex

Image: Mr Dutton and wife Kirilly Dutton 
Australia's federal Immigration Minister, the Hon. Peter Dutton has purchased a multi-purpose retail, medical, consulting and office space complex in the Edison Plaza shopping centre at Wulguru, just off the Flinders Highway south-west of Townsville.

The suburb has been earmarked by TREN as one of the hotspot locations in Townsville with its proximity to the army base, university, Cluden Park horse racing, commercial retail including Bunnings, Woolworths and variety stores, heavy industry transportation facilities, the Stuart correctional centre and the proposed 25,000 resident development of Elliott Springs.

Image: Edison Plaza Wulguru

The Edison Plaza complex is adjacent to the Wulguru State School. The commercial property is reportedly netting approximately $104,000 per annum with a current vacancy of approximately 10 percent. Fully tenanted, the complex has a nominal net yield of approximately $140,000 per annum.

The property was marketed and sold by Elders commercial agent, Glenn Adair with a 752m2 floor area on nearly 1 acre of land. The Edison Plaza complex includes eleven tenancies with 52 onsite car parks and drive-through access.

Image: Google Maps, Wulguru, Townsville

This investment brings the couple's property portfolio to five properties across Queensland and the Australian Capital Territory with the most audacious being the property at the Gold Coast's Palm Beach for $2.3 million.

Mr Dutton is an ex-police officer mainly working in the drug squad for Queensland Police. He was elected to federal parliament in 2001 as the member for Dickson, a suburb north of Brisbane. He famously unseated then Australian Democrats Leader turned Labour Party member and MP, Cheryl Kernot.

In his maiden speech to parliament, Mr Dutton said; "As a police officer, I have seen the best and the worst that society has to offer. I have seen the wonderful, kind nature of people willing to offer any assistance to those in their worst hour, and I have seen the sickening behaviour displayed by people who, frankly, barely justify their existence in our sometimes over-tolerant society."

Described by a former flatmate that "not everyone loves him, that's for sure". He is also described as being smart, charming, funny, astute, duplicious and articulate.

The Edison Plaza property was a sale by private treaty for $1.1 million and was on the market for nearly a year and a half. Mr Dutton and his wife Kirilly paid $760,000.

The couple has two sons, Tom and Harry, and daughter, Rebecca. The couple reside in their family home at Camp Mountain, north of Brisbane and are not expected to relocate to Townsville, North Queensland.

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