Clive Palmer is understood to have purchased a luxury penthouse in Townsville.
Clive Palmer is understood to have purchased a luxury penthouse in Townsville.

Clive Palmer’s new Townsville penthouse

CLIVE Palmer is understood to have bought one of Townsville's most luxurious penthouses for an undisclosed sum.

The controversial billionaire has bought 9/88 Mitchell St in North Ward in a private sale.

The penthouse wasn't on the market at the time of the sale and was once owned by ­renowned Townsville businessman David Carmichael before he sold it for $3.4 ­million in 2008.

Several real estate sources told the Townsville Bulletin yesterday that the sale had gone through, meaning Mr Palmer could be moving in during the next few weeks.

A resident of the complex at 88 Mitchell St said Mr Palmer had been spotted in the building while several black Mercedes-Benz cars were also seen parked outside last week, coinciding with Mr Palmer's visit to Townsville.

While the price has not been revealed, Mr Palmer is believed to have paid several million dollars for the luxury property.

Real estate sources have ­described the penthouse as being one of Townsville's best.

It takes up the entire top-floor building of the Mitchell St complex and is more than 600sq m in size.

It has panoramic ocean views and fronts on to Strand Park while the apartment complex itself is immaculately maintained and has a lap pool, gym and manicured gardens.

The property deal follows Mr Palmer announcing in Townsville last week that he was hoping to finalise a ­property purchase in the next ­fortnight.

"I'll be a resident, I'll be ­living here," Mr Palmer said at the time.

It was understood he had been scouting for properties near The Strand while he was in Townsville.

Mr Palmer had said he wanted to buy property in Townsville so he could oversee the reopening of the QNI ­refinery at Yabulu.

Mitchell St is one of Townsville's most popular streets due to its proximity to The Strand and ocean views. The street was also once home to North Queensland Cowboys legend Johnathan Thurston before he moved to Pallarenda.

Properties in North Ward regularly fetch more than $1 million due to the seaside ­suburb being close to Townsville's best parks, bars, restaurants and shops while also being close to the CBD.