Varsity Lakes
Varsity Lakes

How one man made more than $20m in a land deal

A REFUGEE from Vietnam who took a $2.3 million punt on a piece of Gold Coast land eight years ago has sold it for $24 million.

Nhan Doan, who came to Australia four decades ago, has sold the vacant Varsity Lakes site to a Chinese group after a buyer scramble.

The sale, with GST added, shows as a $26.4 million transaction.

The site value put on the land by the State Government in June was $3.4 million.

Sasan Rahmani, the agent who handled the sale, yesterday said that Mr Doan always regarded the 14 Lake St site, which abuts Bond University and overlooks Central Park, as a unique one.

More on this at Gold Coast Bulletin

News Corp Australia


Migrants not staying in regional areas

premium_icon Migrants not staying in regional areas

One in 10 migrants use country towns as pit stops before city life.

Rebels injury toll rises ahead of tough road to finals

premium_icon Rebels injury toll rises ahead of tough road to finals

French, Smidt out for last two home and away games

Police renew appeal to locate wanted man

Police renew appeal to locate wanted man

Police searching for 25-year-old wanted for several offences.

Local Partners