AN OVER-50s lifestyle resort developer has put a Noosa waterfront home on the market for more than $17m just six months after buying it for $2m less.
GemLife CEO and director Adrian Puljich paid $15m for the residence at 50 Noosa Parade at the beginning of the year, but has since changed his mind about the purchase and is hoping another buyer will come along before the deal settles.
It is understood he will go ahead with the deal regardless of whether he can resell it or not.
The buyer will have to have deep pockets, with the property now being advertised for sale for offers over $17m — five months after selling to Mr Puljich for $15m.
The 611 sqm block, advertised as “one of the most prized parcels of real estate in Noosa”, is within walking distance of Noosa Main Beach and Hastings Street.
A humble, mid-century home currently sits on the site, surrounded by luxurious residences, and with only parkland and water on either side.
The property had been held by the same family for more than four decades before Mr Puljich quietly swooped in.
David Conolly and Mike Hay of Century 21 are again marketing the property after originally selling it to Mr Puljich.
Mr Conolly declined to comment when contacted.
It comes as the Pujlich family, headed by building industry figure Peter Puljich, recently announced it would merge its original business, Living Gems, into GemLife.
The move will create a business with more than 11,000 homes under its umbrella and spread across Queensland, northern NSW and Victoria.
The masterplanned resorts are built under a system by which residents buy their homes from developer Gemlife, but pay land-lease fees on their lots.
A deal is also in the wind that could value GemLife at more than $2bn, with the Pujlich’s looking to test the market by offering a stake in the business.
Mr Puljich is also the chairman of the Gold Coast Knights.
In 2019, he bought a riverfront mansion in Carrara for more than $7m only to demolish it and build an even bigger one on the 1.2ha site.
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