How to spend $20m

Posted on: March 20th, 2019 by
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BUY THE LOT: Brian Orvad reckons the lucky lotto winner should invest in Glen Innes real estateA builder in his thirties “from a tiny town near Glen Innes” is $20 million richer after winning Tuesday night’s OzLotto.
Nanjing Night Net

NSW Lotteries confirmed the win was going to someone in the New England region.

Mystery surrounds the identity of the builder, aged in his thirties and who lives near Glen Innes, who purchased the ticket online.

The massive windfall has Glen Innes in a spin, with locals scrambling to find out who the mystery winner is.

Guy Schafer from Schafer’s Newsagency in Glen Innes said there was a fair bit of buzz around as news spread.

“I would have loved to have sold it ,” he said.

“The person is very lucky and they’ll be doing very well from now on I’d say.”

If New England’s latest multi-millionaire is looking for ways to spend his newfound fortune, he has plenty of options.

With $20 million, he could buy 80 houses in Glen Innes – exactly half the 160 houses listed on the town’s residential market.

Glen Innes Ray White’s sales manager Brian Orvad said the price triangle in the town ran from $100,000 to $900,000, with the average price at $250,000.

“He could buy half the residence in town, what an amazing thing,” Mr Orvad said.

“There is some really nice residential real estate in town ranging from $300,000 to $700,000. There are some really quality, upper market houses in that bracket.”

“He could even buy my place, it’s on the market for $665,000 – if he gives me a call I’ll happily take him through it,” Mr Orvad said, laughing.

If he did want to invest in the local real estate, Mr Orvad said it would give the region’s housing market a “real kick along”.

“Hopefully because he’s a local he will want to turn some of that money back into the local area and give the locals a spark,” he said.

“We’d be quite happy to look after him in thatregard, we have about 100 of those listings – totally private of course, I’m like a priest,” he said, laughing.

This story Administrator ready to work first appeared on Nanjing Night Net.

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