Catering to the Ultra-Rich Is a Booming Business in Australia
Perth, the world’s most remote big city, becomes a family office hot spot.
Cottesloe, a western suburb of Perth and part of what’s known as the Golden Triangle.
Photographer: Wirestock/Getty Images
Peppermint Grove, a suburb of Perth in Western Australia, has all the trappings you’d expect of one of the wealthiest postal codes in the country: sprawling riverside mansions, exclusive schools and a yacht club.
But lately there’s a new sign that the Perth elite are starting to tip over the line separating the merely rich from the fabulously so. Glance in a real estate agent’s window, and you’ll often see properties advertised with a telltale phrase: “Perfect for a family office.”