Annastacia Palaszczuk is set to enjoy a very comfortable retirement after stepping down as Queensland premier.
Although she will have to forego her $427,561 salary, that received a four per cent boost in July and was set to be bolstered four and three per cent rises over the next two years, she has a property portfolio of more than $3million to fall back on.
Ms Palaszcuzk, who has been premier since 2015, lives in a four-bedroom house in the leafy south east Brisbane suburb of Seventeen Mile Rocks.
The median property price for the suburb is around $900,000.
She also owns two investment units, both over 100sq/m, on south-east Queensland’s Main and Sunrise beaches.
Annastacia Palaszcuzk leaves politics with a property portfolio valued at well over $3 million
Ms Palaszcuzk, who has been premier since 2015, lives in a four-bedroom house in the leafy south east Brisbane suburb of Seventeen Mile Rocks (pictured, Ms Palaszczuk with her partner Dr Reza Adib)
The Main Beach apartment, which last sold for $705,000 in 2019, is on the eighth floor of Liberty Pacific tower and has a long balcony facing north with views across the Main Beach Tourist Park to the ocean.
The median sale price in the suburb has climbed to more than $1.1m and rents have jumped 16 per cent in a year to about $700 per week.
Ms Palaszczuk appears to have gotten an even better bargain with her Sunrise Beach unit, paying just $370,000 in 2012 where the median unit price has rocketed to about $1m.
Median rent sits at about $625 per week.
However, Ms Palaszczuk’s holdings could be considered modest compared to her surgeon partner Reza Adib, who is CEO of Brisbane Obesity Clinic.
He owns a riverfront mansion in the inner west suburb of Indooroopilly, which sold in 2010 for $6.25m.
The landmark house is ‘inspired by the grandeur of traditional 14th Century Italian Villas’ and features ‘the finest materials from around the world.’
‘This lavishly regal home is the absolute pinnacle of building construction and design,’ real estate marketing gushed when it was last sold.
‘One of the first truly authentic Mediterranean style homes constructed in Brisbane, this expansive estate proudly stands on more than half an acre of some of the most prized riverfront land in Brisbane.’
Ms Palaszcuzk and Dr Adib’s taste for the finer things in life drew unfavourable headlines when it emerged she missed a cabinet meeting because the pair were on a luxury yacht getaway on Hamilton Island.
Ms Palaszcuzk’s Main Beach apartment, which last sold for $705,000 in 2019, is on the eighth floor of Liberty Pacific tower
The Premier also took two overseas trips this year spending more than five weeks abroard.
Ms Palaszczuk revealed it was on her second break, for two weeks in Italy, that she began considering political retirement.
Despite being a long-serving parliamentarian Ms Palaszcuzk has missed out on the generous pension for life that an earlier generation of Queensland MPs received.
This perk was phased out for any elected after 2004 with Ms Palaszcuzk entering parliament in 2006 taking over the seat represented by her father.
She will receive the same superannuation benefits as other Queensland public employees.
As to what her future employment might be Ms Palaszcuzk said she had nothing lined up.
The Main Beach apartment has a long balcony and comes with panoramic views that take in ocean
‘I have no job,’ she revealed while announced her resignation.
‘So come January – I’ll also be finishing up as the member for Inala this month as well – but look I think, I’ll be out there promoting Queensland in some sort of capacity.
‘Look around you, this state has so much to offer. There’s buildings everywhere, the transport systems, we’re making things in Queensland. Honestly, our best days are ahead of us.
‘What has inspired me most is the people I’ve met out and about.’