What Will Become of the Warne Brighton Property Portfolio?

All eyes turn to Brighton this week, and the matter of what King Shane and Queen Simone will do with their substantial property holdings, now that things appear to be on the mend in the Warne-Callaghan camp.

The spin bowler, who retired from cricket last month, was said to have rejected several offers on his Outer Crescent family home last year, sticking firm to his initial asking price of around $10 million.

Simone meanwhile owns her own property, though at the moment it’s a block of dirt – also in Brighton. Last year Secret Agent reported the television identity’s plans to build a mega mansion of her own on the large site.

This was before cupid’s arrow struck however – and this year is a blank page.

Reports suggest the couple are heading to Europe to start a new life – meaning up to $10 million of Brighton real estate could be offloaded in 2007.

Agents say Shane needs to lower his asking price if he hopes to sell his home anytime soon. They say a more realistic price for his property is $7 million – a little more than the couple paid buying, renovating and extending it five years ago.

Simone however may have backed a winner. Despite demolishing a house, Brighton land values have gone up considerably over the year and her undeveloped land could sell for around $2 million, which is about what she paid for it. A tasteful mansion on top of that will add to the price considerably.

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