Retired expatriate hedge fund trader Greg Coffey's Scottish island golf course designs creating a wedge: Title Tattle

Despite the prestige Palm Beach peninsula rumour mill's normal reliability, Title Tattle scoffs at the suggestion the hedge fund expatriate Greg Coffey bought himself an early retirement present – the neighbouring $13 million Whale Beach property known as The Wedge.

No word on the buyer's identity from the Raine & Horne selling agent Glenn Lee, but almost everyone has assumed the speed of its acquisition, and the very bullish price, all had the modus operandi of the hedge fund trader, nicknamed the Wizard of Oz.

Of course last week Greg Coffey hit international headlines when he announced his retirement aged 41 from his London hedge fund, taking with him as estimated fortune of $400 million to enjoy.  

His resignation letter at Moore Capital Management even said he intended to spend more time in Australia with his wife, Ania, and their children.

But Title Tattle gleans the rumour that swept the peninsula over the weekend that Coffey was last Friday's $13 million-plus buyer of adman Geoff Cousins' weekender (pictured above) was way off.

Certainly buying the neighbouring property had been a habit of Coffey's, as earlier this year he spent $2.5 million to buy a property that adjoins Merdjayoun, the 1930s Balmoral hillside house he bought in 2005 for $11.8 million.

The Coffeys paid $7.75 million in 2006 for their Whale Beach property, which doesn't have as easy direct beach access that the Wedge enjoys and everyone thought any purchase would allow installation of a pool within the envisaged compound.

Perhaps Coffey's grand plans are being saved for his sprawling Ardfin estate (pictured above and below) in the Hebridean Island of Jura, Scotland, which was listed with a £3.5 million asking price when sold in 2010.

The  11,595-acre (4,692-hectare) estate is situated at the southern tip of the Atlantic fringe island. It includes the 16-bedroom C-listed Jura House and renowned walled gardens (pictured above), which, benefitting from a southerly aspect and the effects of the Gulf Stream, are home to exotic specimen plants from Australiasia. They'd been open to tourists, estimated at 2,500 annually, but closed since his 2010 purchase.