Australian gas industry veteran offloading Gold Coast apartment

first_imgUnit 4/2 Lavarack Rd, Mermaid BeachAUSTRALIAN gas industry veteran Richard Cottee is offloading an apartment on the absolute beachfront on the Gold Coast.Cottee, who’s now managing director of Central Petroleum, was in a previous worklife MD of Queensland Gas when its market capitalisation went from millions to billions. His investment unit at 4/2 Lavarack Road, Mermaid Beach has hit the market with an asking price of more than $1 million.More from newsParks and wildlife the new lust-haves post coronavirus19 hours agoNoosa’s best beachfront penthouse is about to hit the market19 hours agoCentral Petroleum head Richard Cottee is a master negotiator. Picture: Emma Murray.It is listed through Luke Henderson And Cindy Katene of John Henderson Professionals Mermaid Beach who’re so confident that the property is good value that they’ve challenged potential buyers “to find better value on the beachfront”.Considering Cottee paid $1.1m for the unit a decade ago, it would be like buying at 2008 prices. The east-facing apartment has uninterrupted views of the beach and open plan living areas, plus there is direct access to the beach. The two-bedroom apartment is in a seven-storey tower in which there are only a dozen owners. Regular expenses in Cottee’s investment property include about $4,849 in council rates a year, over $1,094 annually for water, body corporate fees of $140 a week, and he currently has it tenanted at $715 a week. Great location on the coast.last_img