PHOTO: Clive Palmer’s latest Fig Tree Pocket acquisition, which sits directly behind his other acreage properties, cost him $5 million – but it has netted him just over four hectares of riverfront land in Brisbane’s blue-chip western suburbs. Photo: Supplied

Queensland billionaire Clive Palmer looks to be creating a massive riverfront compound for himself, having quietly added another $5 million trophy home to his property portfolio in Brisbane’s western suburbs.

The embattled rich-lister and former politician, who was last month charged with fraud by the Australian Securities and Investments Commission (ASIC), has bought the third in a line of three neighbouring properties in Fig Tree Pocket, taking his total spend on the houses to $17.5 million.


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This latest deal gives Mr Palmer just over four hectares of land fronting the Brisbane River.

The sale was brokered by McGrath Paddington agent Alex Jordan, who refused to comment on the identity of the buyer, but multiple sources with knowledge of the deal confirmed Palmer as the new owner.