Finance

Chinese billionaire Riyu Li sells Gold Coast hinterland farmland to locals

A large swathe of stunning Gold Coast hinterland farmland is back in Australian hands after being sold by a Chinese billionaire.

Property developer Riyu Li has parted with 829 Tallebudgera Creek Road for $5.35 million.

The 101-hectare property includes the Wirlinga Park cattle farm, which is described as premium land for breeding and fattening cattle.

“It’s really beautiful. It goes all the way up to the top of the mountain, which borders the Gwinganna Lifestyle Retreat,” said Kylie Wardrop, principal of Premier Real Estate Agents.

“You’ve got the creek frontage. You access it via a really cute bridge. There’s lots of natural water on the property.

“It’s lovely.”

The property was sold in two parts.

The Wirlinga Park cattle farm at 829 Tallebudgera Creek Road. Credit: Premier Real Estate Agents
The Gold Coast hinterland property has been described as “beautiful” and “lovely”.
The Gold Coast hinterland property has been described as “beautiful” and “lovely”. Credit: Premier Real Estate Agents

Inprop Australia, owned by Gold Coast local Scott Bradford, purchased about 60ha for $3.2 million.

A private resident, also from the Gold Coast, bought 41ha for $2.15 million.

It’s understood Li sold because of a pivot in the focus of his Australian property holdings.

Chinese property developer Riyu Li (right) with Gold Coast mayor Tom Tate and former Queensland tourism minister Kate Jones. File image.
Chinese property developer Riyu Li (right) with Gold Coast mayor Tom Tate and former Queensland tourism minister Kate Jones. File image. Credit: Getty

Wardrop said there was a “significant interest” in the property in the six months before it sold, mainly from locals.

“I think it’s really great that it’s two local families who are now the caretakers of this beautiful land, and they’ll be building their forever homes for their families.

“I think it’s great that the natural environment will be retained. I think that’s really exciting.”

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