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Defence Minister Peter Dutton has cashed out on his massive property portfolio, banking almost $4.6 million from deals in the last couple of years, while still also owning around another $4.5million worth of real estate.
Parliamentary and property records show the former Queensland police officer has made huge sums investing in the booming real estate market over recent years.
Until recently, the family’s property buy-up included:
- A luxury beachfront home on millionaire’s row on the Gold Coast
- A Townsville shopping centre
- A resort home on Moreton Island
- A sprawling two hectare family home on Brisbane’s outskirts
- An apartment in Canberra
- And an upmarket investment property in Brisbane’s CBD.
Defence Minister Peter Dutton, seen here with his wife Kirilly, has banked millions as he cashes out on his massive property portfolio
In the last couple of years , the Duttons have sold off much of their empire – including this $6million home on the Gold Coast’s Palm Beach – and pocketed $4.6million in profits
In the last couple of years however, the Duttons have sold off much of their empire and pocketed $4.6million in profits.
He sold his holiday home in Millionaire’s Row on the Gold Coast for $6million in February 2021, after it was previously passed in at auction for $4.35million.
Mr Dutton, 51, and his wife Kirilly bought the Jefferson’s Lane home for $2.35million in 2014, and more than doubled their money in seven years, pocketing a $3.65m profit.
However even the hefty price that they snapped it up for was something of a bargain. The previous owner had paid $2.5million for it 12 years earlier in 2002.
Peter Dutton sold this holiday home in Millionaire’s Row on the Gold Coast for $6million in February 2021, after it was previously passed in at auction for $4.35million
The stunning four-bedroom, three-bathroom beachside mansion hides behind a private frontage and sits on 546 square metres of land, with uninterrupted views of the sand and sea
The back garden has a gate leading straight onto Palm Beach and boasts rich and famous neighbours including surfer Kelly Slater and Seven media boss Ryan Stokes
The stunning four-bedroom, three-bathroom beachside mansion sits on 546 square metres of land, with uninterrupted views of the sand and sea.
The back garden has a gate leading straight onto Palm Beach and boasts rich and famous neighbours including surfer Kelly Slater and Seven media boss Ryan Stokes.
Prior to its sale, it was being rented out by the Duttons for up to $1500 a week.
The Duttons have also sold their family estate in Camp Mountain, north west of Brisbane, getting $1.8million for the six-bedroom, two hectare property in 2020.
They had lived there with Mr Dutton’s two sons Harry and Tom and daughter Rebecca, since buying it in 2003 for $710,000, netting the family a $1.09million profit.
The Duttons also sold their family estate in Camp Mountain, north west of Brisbane, in 2020, netting $1.8million for the six-bedroom, two hectare property
They have since bought a secluded 68-hectare cattle farm, 30km to the north, near Dayboro, for $2.1million in July 2020.
He recently ran foul of locals who reportedly tried to use a waterhole on the property but were kicked off the land by Australian Federal Police bodyguards assigned to protect the minister.
Mr Dutton also owns an investment property in the Tangalooma resort in Moreton Island and an apartment in Canberra.
However, the the former policeman has experienced some losses and managed to lose $147,000 when he sold a luxury unit in Spring Hill in Brisbane’s CBD.
The Defence Minister still managed to lose money on one city centre deal after buying a unit in this building in Brisbane’s Spring Hill for $629,000 in 2016 but sold it last year for $482,000
He bought the modern two bedroom, two bathroom apartment in the Art Series building The Johnson in 2016 as an investment property for $629,500.
But five years later, he sold the deluxe unit – which covers a generous 153 square metres – for $482,000 last May, after just nine days on the market.
However, against the sales of the rest of his extensive property empire, the loss is like a drop in the ocean.
Mr Dutton has been building the extensive property empire for 30 years since he set up a building company with his father Bruce while still a cop with Queensland Police.
He and his father bought this property in Bald Hills for $235,000 in 2000 from the Roman Catholic Archdiocese of Brisbane and sold it in 2013 for $1.34million
The father and son construction company developed, bought and sold a string of properties, and established a series of child care centres.
They then leased the properties out to child care companies, including the now defunct ABC Learning Centres, for up to $100,000 a year.
Mr Dutton’s wife Kirilly also ran two other Brisbane child care centres – Camelia Avenue Childcare Centre in Everton Hills and Bald Hills Childcare Centre.
The property in Bald Hills which he and his father bought in 2000 for $235,00 from the Roman Catholic Archdiocese of Brisbane was later sold for $1.34million in 2013.
The shops in Wulguru were bought in 2016 for $760,000 and were put on the market last August for $1.1million but have so far not attracted a buyer
The childcare network sparked allegations in Parliament in 2007 that he had a conflict of interest overseeing a childcare tax rebate, but the claims were rejected by PM John Howard.
The child care centres were run through RHT Investments (QLD) which has Mr Dutton as a trustee and which also owns Edison Plaza Shopping Centre in Townsville.
The shops in Wulguru were bought in 2016 for $760,000 and were put on the market last August for $1.1million but have so far not attracted a buyer.
Daily Mail Australia has contacted Mr Dutton’s office for comment.
PETER DUTTON’S PROPERTY EMPIRE THROUGH THE YEARS
June 17, 1994: Oxford Crescent property, Bridgeman Downs, bought by Dutton Holdings for $76,000
June 9, 1995: Stringybark Court, Murrumba Downs, property is sold for $175,000 by Peter Dutton and father Bruce Dutton as Unit Trust Dutton. No record of purchase price.
June 9, 1995: Kallangur property is bought for $46,000 by Peter Dutton and father Bruce Dutton as Unit Trust Dutton
June 30, 1995: Mount Cotton property bought for $45,700
April 12, 1996: Waterford West property bought by Dutton Holdings. No record of purchase price.
May 16, 1996: Bridgeman Downs property, sold by Dutton Holdings for $250,000
May 16, 1996: Kallangur property, sold for $55,000 by Peter Dutton and father Bruce Dutton as Unit Trust Dutton
March 11, 1997: Grange property bought in a ‘part sale’ from ‘Peter L Dutton’ for $136,000
August 4, 1998: Mr Dutton is involved in a car crash during a police pursuit
1999: Mr Dutton leaves the police force after being scared to drive following the crash
October 18, 1999: Grange property is ‘part sold’ for $170,000. No record of purchase price
October 28, 1999: Grange property ‘part sold’ for $232,000.
March 1, 2000: Bald Hills property is bought with Bruce Dutton for $235,000
November 10, 2001: Elected Liberal MP for Dickson at federal election unseating Labor’s Cheryl Kernot
An Albany Creek home which was sold for $445,000 after being bought for $280,000 two years earlier
February 25, 2002: Albany Creek property, bought for $280,000
August 17, 2002: Waterford West property, sold by Dutton Holdings for $500,000
October 15, 2002: Mount Cotton property, sold for $202,000
November 9, 2003: South Camp Mountain property bought for $710,000
April 19, 2004: Albany Creek property sold for $445,000
October, 2004: Appointed Minister for Workforce Participation
May 20, 2013: Bald Hills property sold with Bruce Dutton for $1.34million
September 2013: Appointed Minister for Health and Sport
September 30, 2014: Palm Beach property bought for $2.35million
December 23, 2014: Appointed Minister for Immigration
August 29, 2016: Spring Hill proeprty bought for $629,500
September 7, 2016: Wulguru property bought for $760,000 by RHT Investments
December 20, 2017: Appointed Minister of Home Affairs
August 23, 2018: Launched failed bid to replace Malcolm Turnbull as PM
January 28, 2020: South Camp Mountain property sold for $1.8million
July 20,2020: A 68-hectare property is bought for $2.165m
February 9, 2021: Palm Beach property is sold for $6million
March 30, 2021: Appointed Minister of Defence
620/477 Boundary Street, Spring Hill which was sold for $482,000 in 2021 after Peter Dutton had paid $629,500 in 2016
May 29, 2021: Spring Hill property sold for $482,000
August 31, 2021: Wulguru property goes on the market for more than $1million
An investment property at Tangalooma resort on Moreton Island is listed on Member’s Register of Interests but the purchase date and value is unknown. Estimates suggest it may be worth around $700,000.
He also reportedly owns an apartment in Kingston, Canberra since 2012, but the purchase price is unknown. Its current value is estimated at around $600,000.
Source: DailyMail
