MPRE Founder Makes $3 Million From Sale of Kilinor Weekender, Red Hill South |
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Written by Marc Pallisco
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Wednesday, 23 April 2008 |
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MP Real Estate founder Steven Oates has pocketed $3 million from the sale of his Red Hill South retreat, Kilinor.
Mr Oates and wife Amanda watched five bidders compete for the 11.5 hectare Shoreham Road property, which included a 38-square weatherboard and stone mansion with unobstructed rural views.
Kay & Burton selling agent Prue McLaughlin said the Oates property had a reserve price of $2.5 million, and that the auction was attended by about 250 people. She declined to comment on the new buyer other than to say they were Melbourne-based.
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