Clive Palmer Expands Footprint in Fig Tree Pocket

Mining magnate Clive Palmer has significantly expanded his presence in Fig Tree Pocket. The 70-year-old businessman has amassed a sprawling compound now estimated to be worth up to $60 million.



Palmer’s property holdings in Fig Tree Pocket now stretch across nearly half a kilometre of Brisbane River frontage. Since the pandemic began, he has tripled his footprint in the area, now owning seven titles that collectively form one of the largest private landholdings in the suburb.

Clive Palmer started his spree with this Fig Tree Pocket home in 2018.
Photo Credit: Ray White New Farm

The foundation of Palmer’s Fig Tree Pocket estate is the former property of Peter Bond, which he acquired in 2018 for $7.5 million, a significant discount from its original $12 million listing price. This 1.26-hectare property marked the beginning of Palmer’s expansion in the area.

Mr. Palmer purchased a neighbouring property in 2020.
Photo Credit: Facebook / Jason Adcock-Adcock Prestige

In 2020, Palmer acquired two neighbouring properties, each priced at $5 million. These acquisitions, made through his company Closeridge and in his own name, secured him control of the left side of the street leading to the Brisbane River.

The extensive river frontage of Palmer’s compound provides him with the unique opportunity to anchor his superyacht, “Australia,” adjacent to his residence.

Among Palmer’s neighbours in Fig Tree Pocket are his son Michael, who owns a nearby property, and Queensland tech entrepreneur Bevan Slattery, founder of NextDC and Megaport, who resides next door on the riverfront.



This significant investment in Fig Tree Pocket real estate comes as Palmer awaits a decision from an international court regarding its jurisdiction to hear his case against the Commonwealth.

Published 24-September-2024