Gina Riley Laughs All the Way to the Bank, Pocketing Nifty Profit from Luxury Armadale House

A property observer at the auction of the Mercer Road home last Saturday said bidding intensified for the four-bedroom house after it hit a reserve of $4.61 million. A final knock-out bid of $100,000 by an undisclosed business identity saw bidding halt and the home sell for $5.1 million.

Castran Gilbert director Paul Castran declined to reveal the buyer’s identity.

Riley and television producer husband Rick McKenna reportedly paid $4.45 million for the home last year. Riley, co-creator of the comedy show Kath & Kim with Jane Turner, signed a lucrative fourth-series deal with Network Seven earlier this year.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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