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AU Rudd's luxury property portfolio miles from Struggle Street

Property Here - Tuesday, July 02, 2013

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Rudd?s $10m property portfolio

Kevin Rudd's Canberra home is on the market for $2.25 million. Supplied. Source: Supplied

KEVIN Rudd's multi-million-dollar property portfolio represents a huge wealth divide between the PM and Labor's working family voters in mortgage belts.

Mr Rudd owns luxury homes in Canberra, Brisbane and on the Sunshine Coast. In total, they're estimated to be worth more than $10 million. It includes a $1.4 million block in Brisbane's well-heeled Norman Park that he bought two years ago with a plan to build a million-dollar-plus home for visitors.

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Kevin Rudd at his Norman Park home.

Kevin Rudd at his Norman Park home. Source: Supplied

The same year, he and wife Therese paid over $3 million for a five-bedroom home in Castaways Beach, near Noosa.

Named Ocean Blue, the property is available for holiday rental at $1054 a night during peak periods, with a minimum seven-night stay at $7378.

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Kevin Rudd's home on the Sunshine Coast. Supplied.

Kevin Rudd's home on the Sunshine Coast. Supplied. Source: Supplied

The oceanfront home has three bathrooms and two separate living areas "one for the children to escape to and the other for parents to relax", according to its website description.

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Kevin Rudd's Sunshine Coast home. Supplied.

Kevin Rudd's Sunshine Coast home. Supplied. Source: Supplied

The Rudds also own a stately Queenslander overlooking the Brisbane River worth about $1.5 million.

His Norman Park home will once again be where Mr Rudd runs the country from after deciding to base himself in the Sunshine State.

Aside from his own homes, the PM also has access to government-funded official residences including the Lodge in Canberra and Kirribilli House in Sydney.

Recently the Rudd's listed their "sophisticated and luxurious" Canberra residence, for $2.25 million.

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Kevin Rudd's Canberra home is on the market for $2.25 million. Supplied.

Kevin Rudd's Canberra home is on the market for $2.25 million. Supplied. Source: Supplied

The couple moved out of the five-bedroom property almost 18 months ago - when their youngest son finished secondary school in Canberra.

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Inside the Rudd's Canberra home. Supplied.

Inside the Rudd's Canberra home. Supplied. Source: Supplied

The split-level home - which features "formal Italianate gardens" and "exceptional quality finishes" - has played host to visiting diplomats and heads of state, and is a 10-minute drive from the federal parliament.

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Inside the Rudd's Canberra home. Supplied.

Inside the Rudd's Canberra home. Supplied. Source: Supplied

The property's marketing spiel states that the kitchen "is a chef's delight featuring double ovens and separate butler's pantry adjoining the large light-filled family/casual dining room which leads to a fabulous alfresco entertaining area with outdoor cooking facilities and swimming pool".

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Inside Kevin Rudd's Canberra home. Supplied.

Inside Kevin Rudd's Canberra home. Supplied. Source: Supplied

It was put on the market last month and its internet listing is doing solid traffic with 2000 visits.

Mr Rudd and Ms Rein purchased the property in October 2010 for $2.175 million. With Canberra property sales expected to slide if the Coalition comes into office - with the possibility of thousands of public service job cuts - it is assumed that the Brisbane-based couple are selling up before the bottom falls out of the market.



Read more: http://www.news.com.au/realestate/news/rudd8217s-luxury-property-portfolio-miles-from-struggle-street/story-fncq3gat-1226673021164#ixzz2Xsr8VDQt