Pauline Hanson sells Hunter Valley hotel investment for $1.1M
Pauline Hanson has banked $1.1 million after selling her Hunter Valley investment property.
The One Nation party leader bought the former Exchange Hotel in Maitland for $449,000 and has effectively doubled her money.
Hanson purchased the property with local real estate agent Rhonda Nyquist in 2012 and sold it recently to a syndicate of buyers in the Dig & Hedge company.
In selling the property, Hanson took aim at the federal government and its response to the cost-of-living crisis affecting many Australians.
“As an Australian investor I have lost confidence in the national economy under this Labor government,” Hanson said through a spokesman.
“Property investment has become more and more unviable in Australia, and the government are demonising investors.
“So when the opportunity came up to sell my interest in the property, I happily took it.”
Hanson noted problems with housing supply in Australia that is contributing to hardship, which is contrary to Reserve Bank Governor Philip Lowe’s take that it is due to modest expansion in light of population growth.
She also said cost of living pressures were evident in the cost of a beer, citing the $13.50 she was recently charged at a pub in Queensland. “I despair for Australians who like to have a drink at the local pub.”
Hanson’s property is now home to a boutique craft beer bar called The Pourhouse and includes a three-bedroom apartment above which has been leased for $650 a week.
The Pourhouse serves a wide selection of boutique beer and cider, while the menu includes house favourite American-style ribs for $35, vegetarian burger for $28, or share plates such as satay chicken, Peking duck spring rolls and prawn dumplings.
Jonathan Jackson, 10th May 2023
