Eventually, he started to deal with property development and he went on to develop shopping centers in Perth and regional Western Australia together with his partners Kevin Merifield and Jack Bendat. What’s more, he became the owner of Australian Capital Equity (ACE), through which he holds interests in mining, petroleum exploration, construction and property. In 2007, he established a successful collaboration with The Carlyle Group to form Coates Hire Ltd from National Hire Ltd. When it comes to his personal life, Stokes took some three marriages before he finally settled with his fourth wife Christine Simpson. He has four children and currently resides in Perth, Australia.