Jackie Trad sells controversial investment property for same price it was bought


October 03, 2019 13:32:46

Deputy Premier Jackie Trad says the sale of her family’s controversial Brisbane investment property that prompted corruption concerns has been turned into a soap opera, adding she made good on her promise not to make a profit on the deal.

Key points:

  • The house is close to Cross River Rail, a project overseen by Ms Trad at the time of purchase
  • The CCC found no evidence of corruption but criticised Ms Trad’s failure to properly declare the property
  • Ms Trad says the house sold for $695,500 the same price it was bought in March

The Treasurer’s office confirmed on Wednesday night the Woolloongabba house had been sold but did not disclose an amount, drawing the ire of the Opposition and headlines that the sale was being kept a secret.

Ms Trad expressed frustration on Thursday morning at the reactions, saying the only reason the price was not revealed was because of the same commercial-in-confidence given to every home sale before settlement.

She however decided to confirm that the three-bedroom weatherboard went for $695,500, the same price her husband bought it for in March.

“Oh, for heaven’s sake!” she wrote on Facebook.

“Talk about manufacturing a soap opera.

“The fact is the sale is not a secret, it’s just not complete.

“As is normal, conditions of sale of contract have to be met and we’re waiting for that to happen.

‘This is what happens when any other house sells, this is no different.”

Before the price was confirmed this morning, Opposition Leader Deb Frecklington said Queenslanders deserved to know the exact amount.

“It lacks transparency and it is obvious that this integrity crisis won’t go away until Jackie Trad, the Deputy Premier of Queensland, is open and honest with Queenslanders,” she said.

“How can we trust Jackie Trad if she’s not prepared to disclose the sale figure?”

The Crime and Corruption Commission (CCC) was asked to examine Ms Trad’s purchase of the Woolloongabba home, which had the potential to grow in value because of its proximity to the nearby Cross River Rail project, which Ms Trad was overseeing at the time of the purchase in March this year.

The house is also in the catchment for a new inner-city primary and secondary school.

In July, the Opposition alleged Ms Trad had engaged in “insider trading” and referred the matter to the CCC.

Ms Trad admitted she had failed to disclose the investment on State Parliament’s Register of Interests within the time limit.

She said that error was not intentional, but then also referred herself to the CCC.

Ms Trad attracted further criticism when she revealed she had personally called CCC chairman Alan MacSporran to discuss the matter.

Mr MacSporran said while he did not consider himself compromised by the call, he would recuse himself from the CCC inquiry into Ms Trad.

The CCC eventually found “no evidence … that supported a reasonable suspicion of corrupt conduct”.

“However, as a general proposition, failing to declare and properly manage a conflict of interest creates a corruption risk,” the CCC found.

In response, Premier Annastacia Palaszczuk stripped Ms Trad of all Cross River Rail responsibilities.











First posted

October 02, 2019 20:40:30

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