Rock musician Andrew Stockdale has spent $2.7million on an investment property in Bangalow, a small town in Byron Shire about 14km from celebrity hotspot Byron Bay.
The Wolfmother frontman, 44, bought retail premises in the town with approval for an additional restaurant and living spaces, reports Real Commercial.
The purchase includes six retail and commercial tenancies, and is not Andrew’s only investment in the area.
Sold! Rock musician Andrew Stockdale has spent $2.7million on an investment property in Bangalow, a small town in Byron Shire about 14km from celebrity hotspot Byron Bay
He also owns a $1.6million cottage in Byron, which he renovated and listed as a rental in 2019.
Wolfmother is known for hits including Woman and Joker and the Thief.
Byron Bay is celebrity hotspot thanks to famous residents like Chris Hemsworth and Elsa Pataky, cricketer Adam Gilchrist, singer Natalie Bassingthwaighte and model Elyse Knowles.
Splashing the cash: According to The Daily Telegraph , the Wolfmother frontman splashed the cash on some quaint retail premises in the town, which has the approval for an additional restaurant and living spaces
Retail precinct: The publication reports that it currently has six retail and commercial tenancies and is not his only investment in the area
He’s a fan of Byron: He also owns a $1.6million cottage in Byron, that he renovated and put up as a rental in 2019
Meanwhile, Hollywood heartthrob Zac Efron lived there during the Covid-19 pandemic.
Most famously, Chris and Elsa arguably started the ‘Hollywood 2.0’ craze.
They now reside in a $30million mega-mansion in the area, situated on 4.2 hectares. The home boasts six bedrooms, a game room, gym, steam room, media room, a bowling alley and a 50-metre rooftop infinity pool.
Famous faces: Byron Bay is no doubt a celebrity hot spot, thanks to the likes of Chris Hemsworth and Elsa Pataky, cricketer Adam Gilchrist, singer Natalie Bassingthwaighte and model Elyse Knowles owning multi-million dollar homes in the area
Heartthrob: Meanwhile, Hollywood heartthrob Zac Efron lived there during the Covid-19 pandemic
Chris’ younger brother Liam soon made the leap as well, while American actor Matt Damon, who is currently in Australia filming the next Thor installment, is thought to own a holiday home in Byron Bay.
Nicole Kidman had been living in Byron Bay on-and-off with her husband Keith Urban and their two daughters since filming for her new show Nine Perfect Strangers began earlier this year.
Her co-star Melissa McCarthy has also been staying in the area with her family while filming Nine Perfect Strangers Down Under.
Local: Chris’ younger brother Liam soon made the leap as well, while American actor Matt Damon, who is currently in Australia filming the next Thor installment, is thought to own a holiday home in Byron Bay
A-listers: Nicole Kidman had been living in Byron Bay on-and-off with her husband Keith Urban and their two daughters since filming for her new show Nine Perfect Strangers began earlier this year. Her co-star Melissa McCarthy has also been staying in the area with her family while filming Nine Perfect Strangers Down Under
Isabel Lucas first purchased a home in Byron Bay in 2016, but the Australian actress has lived on-and-off in the region for the better part of a decade.
Hollywood actress Natalie Portman was spotted on several occasions holidaying in Byron Bay ahead of filming Thor: Love and Thunder.
In January, a Byron Bay real estate agent who has sold homes to the Hemsworths and other celebrities insisted Hollywood stars weren’t the ones driving up property prices in the trendy coastal town.
So expensive: In January, a Byron Bay real estate agent who has sold homes to the Hemsworths and other celebrities insisted Hollywood stars weren’t the ones driving up property prices in the trendy coastal town
While frustrated locals blame a few high-profile residents for the influx of wannabe models and social media influencers to the area in recent years, Peter Yopp of LJ Hooker Byron Bay said it wasn’t A-listers spending the most money.
Mr Yopp told Realestate.com.au the soaring house and rent prices in Byron Bay were actually the result of the ‘secretly rich’ splashing the cash.
‘To be honest, the people with the real money look like they don’t have any money. You wouldn’t even know who they are,’ he said.
Mr Yopp also revealed sale prices were constantly rising, with new records being set whenever a luxury property changes hands.
‘The latest sale is the new bottom,’ he told the website. ‘As soon as something else comes along, it supersedes it [in price].’
According to Domain, the median house price in Byron Bay is now more than $1.44million, which is up 22.8 per cent from last year.
Meanwhile, rent has ‘jumped by a third in six months’, reports Realestate.com.au.
Market value: Mr Yopp told Realestate.com.au the soaring house and rent prices in Byron Bay were actually the result of the ‘secretly rich’ splashing the cash