Country music legend Lee Kernaghan hits high note with Gold Coast property sale
Lee and Robby Kernaghan with bakery manager Jerome Favier at the Gallery Walk bakery
Country music legend Lee Kernaghan has sold his Tamborine Mountain commercial property for close to double what he paid for his investment in the Gold Coast Hinterland tourist strip nine years ago.
The veteran Aussie singer, best-known for his smash hit, Boys From the Bush, was “over the moon” with the $1.68 million sale under the hammer of his Gallery Walk holding, which comprised three retail sites and a three-bedroom Queenslander-style home.
Records show the property was last transferred for $890,000 in 2014.
Kernaghan has owned the property since 2014. Picture: Tertius Pickard
Kernaghan will be a headline act at the Gippsland Country Music Festival at Lardner Park, Warragul, this autumn.
It was marketed by Ray White Commercial Gold Coast agent, Peter Laoudikos, with auctioneer and Ray White Surfers Paradise chair Andrew Bell fielding bids from six buyers at the group’s in-room auctions.
Mr Bell said the holding sold “in excess of the reserve price”, with a mix of local and interstate buyers quickly pushing past the opening bid of $700,000.
Kernaghan has spoken of his long-held affinity with the Gold Coast Hinterland, and previously owned a Springbrook mountain cottage which inspired some of his classic tunes, including Spirit of Anzac.
Tenants include a French bakery and a cafe
The Brisbane-based buyer was a frequent visitor to the patisserie
MORE NEWS
$10.8m sale under the hammer for Surfers Paradise mansion
Qld farm sale: Farmer wants a wife, and a beach life
Qld’s most affordable houses available right now
“My wife Robby and I absolutely fell in love with the place when we first saw it.
“You can really lose yourself in nature here.”
Kernaghan said it had been rewarding to see Tamborine Mountain flourish not only as a popular tourist attraction, but also as a thriving commercial precinct in its own right, with many people moving to the area from interstate since the pandemic.
The commercial precinct has thrived since the pandemic
The property also includes a three-bedroom Queenslander-style home
Mr Laoudikos said the Brisbane-based buyer has owned a holiday home at Tamborine Mountain for more than 20 years and would retain the exisiting tenants, including a cafe and bakery.
“The buyers frequently visit and shop there and they have always loved the bakery, and the people who operate those businesses,” Mr Laodikos said.
“They wanted to be part of the community and continue to forge relationships there.”
Net rental income from the Long Rd businesses as well as the home was $102,182 per year.
