Yahoo Finance 'We love it': Inside Rudd's new $17 million mansion
Former Prime Minister Kevin Rudd and his wife Therese Rein have been revealed as the mystery buyers of former tennis player Pat Rafter’s home, which they purchased for a whopping $17 million back in May.
The beachfront Sunshine Coast property boasts seven bedrooms, and was snapped up by Betty’s Burgers & Concrete Co founders David Hales and wife Louise in 2018 for $15.2 million.
The pair reportedly hoped to get $20 million for the property at Sunshine Beach, but settled for the $17 million sale to Rudd, the AFR reported.
The house is H-shaped, and was designed by architect John Burgess. It boasts a 12-metre pool, a three-car garage, a home theatre room and a climate-controlled cellar.
Rudd’s wife Rein said the purchase was in a bid to invest back into Australia.
"We’ve made a conscious decision to bring our investments home to Australia," Rein said.
"While Kevin was in office, we had to invest overseas to avoid conflicts of interest. We’ve now mostly brought those investments back home to Australia."
Rudd, who is currently the president of New York-based think tank Asia Society, said he was pleased with the purchase.
“It’s our community and we love it," he said.
"It’s where I grew up and it has a really bright future."
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