A commanding Surfers Paradise mansion described as the “king of the river” has claimed the Gold Coast’s real estate crown, changing hands for $19.3 million in the most expensive deal of the 2022/23 financial year.
The glamorous property at 91 Commodore Dr, called North Point, was first among 10 top sales across the Glitter Strip’s most exclusive waterfront enclaves, raking in just under $150m collectively for vendors.
Amir Mian of Amir Prestige Group negotiated the sale in April of the five-bedroom, seven-bedroom home at Paradise Waters, which was built in 2016 by Dr Zelle Pullich on a prized 1,570sq m allotment.
Mr Mian said the prestige market had powered through the year, underpinned by a lack of luxury homes and strong interstate migration, and unaffected by interest rate rises.
“There are so many people moving up here,” Mr Mian said.
“There’s so much appetite for our beautiful beaches, our beautiful hinterland, our beautiful boating lifestyle, our beautiful golfing lifestyle.”
Mr Mian said there were still plenty of buyers locally as well, but the problem was a lack of stock.
But, he said buyers were becoming more accustomed to paying a premium for a home — especially a turnkey one.
“Construction costs have gone up so the replacement value is now the same as in Melbourne and Sydney. Finally, the market is coming to terms with that and are now willing to pay.”
Mermaid Beach’s Hedges Ave — better known as ‘multi-millionaire’s row’ retained its status as the Gold Coast’s most expensive street, with four of the top 10 sales positioned along the oceanfront strip.
PointsBet co-founder Andrew Fahey and Katrina Luland splashed $19.2m on a double block, after owners of the existing Parthenon unit block at the site amalgamated to sell.
>>>Here are the Gold Coast’s top 10 sales of the 2022/23 financial year<<<
1. 91 Commodore Dr, Paradise Waters
Sale price: $19.3m
Seller: Zelle Pullich
This commanding Surfers Paradise mansion known as North Point was built by Dr Zelle Pullich in 2016 and recently sold to a local buyer in a deal which is due to settle in September.
The house was designed by renowned architect Jared Poole, and sits on a prized riverfront lot which had been in the vendor’s family since 2007, when Dr Pullich’s father-in-law and prominent property developer Peter Puljich acquired it for $5.7m.
2. 143-145 Hedges Ave, Mermaid Beach
Sale price: $19.2m
Seller: Various (amalgamation of unit owners)
Buyer: Andrew Fahey and Katrina Luland
This absolute beachfront double block on Hedges Ave sold for a record $19.2m, equating to a staggering $23,703 per sqm — the most ever paid for land along the exclusive strip.
The Mermaid Beach property was occupied by a block of flats known as The Parthenon, which was built in the early 1970s and was earmarked for demolition.
It sold to PointsBet co-founder and his partner, Katrina Luland, who in 2021 had purchased another Hedges Ave holding with plans to build a luxury home.
3. 1 Heron Ave, Mermaid Beach
Sale price: $19m
Seller: Jaclyn Morris
Buyer: Rob Deutsch
F45 Training founder Rob Deutsch splashed $19m on this three-storey Heron Ave mansion.
Designed by celebrated architect, Bayden Goddard, the commanding home overlooks the ocean and boasts 18m of beach frontage.
Property records revealed an original beach shack stood on the 556sq m corner block when it was last purchased by Jaclyn Morris for $3.2m in 2011.
4. 133 Hedges Ave, Mermaid Beach
Sale price: $17.5m
Seller: Eva Milic and Marcus Dore
Buyer: Tom and Kirsten Peever
A beachfront home in Mermaid Beach’s ‘multi-millionaires’ row, sold by newsreader Eva Milic for $14.5m in 2021, re-sold for $3m more in December.
The Hedges Ave property was bought by Brisbane-based mining industry figure Tom Peever and wife Kirsten.
5. 105-107 Jefferson Lne, Palm Beach
Sale price: $16.5m
Seller: Raymond Wilkie
This absolute beachfront property in ever-popular Palm Beach sold to a Sydney family for a suburb record in October last year.
The original beach shack had been partially renovated and sits on a 1110 sqm block with a 20m beach frontage.
The cottage was passed in at $13.35m at auction in 2021, but local owner Raymond Wilkie held out for a higher price as developers started to circle.
6. 30 Hedges Ave, Mermaid Beach
Sale price: $12m
Seller: Graham Bendeich
Buyer: Alicia and Anthony Stephens
This beachfront property sold for $12m in August last year to custom home builder Tony Stephens and his stylist wife Alicia, but is now back on the market with a price tag of $16.25m. The 1214 sqm, triple block features a five-bedroom, two-storey home.
7. 4201/272 Hedges Ave, Mermaid Beach
Sale price: $12m
Seller: Arthur J Bates (Investments) Pty Ltd and Depachan Pty Ltd
The four-bedroom skyhome on level 42 of the recently completed 272 Hedges building in Mermaid Beach.
The 650sq m whole-floor apartment last sold off the plan for $6.989m in March 2021, but didn’t settle until the Sunland tower was completed late last year.
8. 7309 Bayside Close, Sanctuary Cove
Sale price: $11.78m
Seller: Wendy Whitelaw
Buyer: Yan Gu
This riverfront mansion inspired by a tropical resort changed hands in a surprise deal, after the owners were presented with an offer too good to turn down.
The off-market sale of the Paul Clout-designed trophy home netted significant gains for the vendor who had purchased the property for $8.4m in December 2021.
9. 640 Nerang Broadbeach Rd, Carrara
Sale price: $11.35m
Seller: Andrew Killion
Buyer: Joyce Ng
Derivatives trader Andrew Killion took a hit on the sale of this riverfront mansion, less than a year after splashing $13m for it.
Property records show new owner Joyce Ng settled on her $11.35m purchase in May of the sprawling home which comes with its own private nightclub.
Mr Killion, CEO of Chicago-based Akuna Capital, bought the property in April 2022, but it was back on the market just six months later with an eye-popping $14.75m price tag.
10. 125 Commodore Dr, Paradise Waters
Sale price: $10.8m
Seller: GC Properties Australia Pty Ltd
This Hamptons-style, riverfront mansion on one of the Glitter Strip’s priciest streets sold under the hammer for $10.8m.
Six bidders vied for the keys to the luxury Surfers Paradise estate, which was owned by an interstate company director, Denis Midor of Melbourne medical goods supplier, Softmed.
It sold to a local buyer whose identity has not been disclosed.
Article source: www.realestate.com.au