Heir to the Arnott's Biscuits empire turns $760,000 into $8.2million with one savvy investment

Wealthy heir to the Arnott’s Biscuits empire and great-great-grandson of founder turns $760,000 into $8.2million with one savvy investment

  • Beachside unit owned by Arnott’s Biscuits heir has sold for around $8.2 million
  • The stunning three-bedroom apartment sold after only four days on the market
  • Luxury Noosa unitowned by Arnott family, who created Tim Tam chocolates

A stunning beachside apartment owned by the heir to the Arnott’s Biscuits empire has sold for $8.2 million.

The luxury unit inNoosa onQueensland’s Sunshine Coast, owned byMichael Arnott, was snapped up just four days after being on the market.

Michael is the great-great-grandson of Arnott’s Biscuits founder William Arnott.

The final sale price of the property is yet to be disclosed, but the apartment was listed for $8.2 million and last sold in 1993 for $760,000.

The luxury apartment in Noosa, (pictured above) on Queensland's Sunshine Coast, has recently been sold

The luxury apartment in Noosa, (pictured above) on Queensland’s Sunshine Coast, has recently been sold

The Arnott family (pictured above) have sold the luxury retreat owned by Michael Arnott (pictured second to left), who is the great-great grandsonof Arnott's Biscuits founder William Arnott

The Arnott family (pictured above) have sold the luxury retreat owned by Michael Arnott (pictured second to left), who is the great-great grandsonof Arnott’s Biscuits founder William Arnott

The 298 sqm apartment boasts a world class view of Noosa Main Beach and also looks north toDouble Island Point.

Real estate agent Tom Offerman said the unit was snatched up by a client trying to get their foot in the estate’s sought-after property market.

The estate’s premium properties are in high demand, with the pandemic driving prices up – with agents footing million dollar deals in days.

The split level apartment (pictured above) has three bedrooms and three bathrooms as well as world class ocean views

The split level apartment (pictured above) has three bedrooms and three bathrooms as well as world class ocean views

The living rooms (pictured above) offers breathtaking views of Noosa Main Beach and out to the Coral Sea

The living rooms (pictured above) offers breathtaking views of Noosa Main Beach and out to the Coral Sea

When agents Tom Offermann and Luke Chen listed the property for sale, the pair were reportedly ‘flooded’ with emails and phone calls as soon as the apartment went live on the website.

Founded in 1865, Arnott’s Biscuits is Australia’s largest producer of biscuits andthe second-largest supplier of snack food in the country.

Some of their more popular products which fly off the supermarket shelves include Tim Tams, Mint Slices, the Choc Monte, SAO cracker biscuits and Milk Arrowroots.

William Arnott died on July 22 1901, aged 75.

Mr Arnott had 12 sons who continued their father’s legacy after his death.

Tim Tam chocolates (pictured above) has long been a favourite with Australian families and overseas guests (stock image)

Tim Tam chocolates (pictured above) has long been a favourite with Australian families and overseas guests (stock image)

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