$83m in 3 months: Inside Gold Coast’s top 10 sales of 2023

A LUXURY beachfront apartment which changed hands for $12 million was the Gold Coast’s top sale of the first quarter of the year.

The spectacular four-bedroom skyhome on level 42 of the recently completed 272 Hedges building in Mermaid Beach was one of four units among the city’s top ten sales reported to realestate.com.au, with a combined total value of $83m.

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.

It was marketed by Kollosche agents, Michael Kollosche and Harry Kakavas, and sold in February.

Kollosche also sold a $8.05m three-bedroom Main Beach apartment, one of 7 in the Bayden Goddard-designed SEA building, while Harcourts Coastal agent Tolemy Stevens handled the $7.3m sale of a Broadbeach penthouse.

And a modern apartment in Palm Beach’s Pacific building of 15 mid-rise units sold for $6.525m in a deal handled by Troy Dowker, of Kollosche.

The year’s highest house sale to date — and the second highest overall — was a deceased estate across two blocks opposite Currumbin Beach.

It was also marketed by Mr Dowker and fetched $10.125m under the hammer.

Mr Dowker said the prestige sector had held firm despite the wider market slowdown since last year.

“Prestige buyers who have an asset portfolio have generally benefitted quite well with capital appreciation in the last few years,” Mr Dowker said.

“We’ve marketed multiple properties this quarter with anywhere from 11 to 16 bidders, which goes to show there is a lot of depth to the buyer pool.”

The Gold Coast recorded a bounce in home values over the three months to March 2023 led by the apartment market.

Unit prices were up 4.25 per cent since January, and just under 10 per cent over the last 12 months to a median of $660,990, latest PropTrack data shows.

House prices also bounced 1.74 per cent to $1 million, which was 2.68 per cent down on the same time last year.


Inside $12m Mermaid Beach apartment

1. $12 million

4201/272 Hedges Ave, Mermaid Beach

A glamorous four-bedroom skyhome in Mermaid Beach’s first high-rise apartment tower changed hands in February. The 650sqm luxury whole-floor apartment in Sunland’s 272 Hedges building was marketed by Michael Kollosche and Harry Kakavas, of Kollosche, and last changed hands for just shy of $7m, when the vendors purchased it off the plan in 2021.

746 Pacific Pde, Currumbin

2. $10.125 million

746 Pacific Pde, Currumbin

An elevated original home with spectacular views over the coastline from Coolangatta to Surfers Paradise, this deceased estate on a 1,138sq m double block was sold under the hammer to local engineer, Andrew Barry and his wife Julie. While the eye-popping price came in under the suburb record of $11.3m, it set a new high bar per square metre of $8,897.

The property was marketed by Troy Dowker, of Kollosche.

670 Pacific Pde, Tugun

3. $9.1 million

670 Pacific Pde, Tugun

This chalet-style home was built in 1988, but the land had been in the same family for more than 60 years. Marketed by Troy Dowker, of Kollosche, the three-bedroom, two-bathroom home offers panoramic ocean views from its position across the road from the beach at Flat Rock. The auction attracted 11 bidders and set a new benchmark for the southern Gold Coast, with the sale price equating to a huge $15,582 per square metre.

69 Jefferson Lane, Palm Beach

4. $8.9 million

69 Jefferson Lne, Palm Beach

Another hot summer auction result for the southern Gold Coast, this Tuscan-style weekender went for more than $1m above reserve. The absolute beachfront block on one of the Gold Coast’s most expensive streets was marketed by Kollosche’s Troy Dowker, with 17 buyers registered to bid as it went under the hammer in February. The block was once owned by Mark McIvor, bankrupted director of the failed Gold Coast merchant banker Equititrust, and last sold to a Brisbane family in 1995 for $975,000.

SEA building at 3531 Main Beach Pde, Main Beach

5. $8.05 million

4/3531-3533 Main Beach Pde, Main Beach

This luxurious oceanfront apartment was one of only 7 in Main Beach’s SEA building. Designed by architect Bayden Goddard and spanning the entire fourth floor, the unit featured high-end finishes include marble, limestone and travertine with timber. It was marketed by Michael Kollosche and Harry Kakavas, of Kollosche.

68 The Promenade, Isle of Capri.

6. $8 million

68 The Promenade, Isle of Capri

The buyers of this contemporary mansion on the water in exclusive Isle of Capri closed the deal shortly after the home went to auction in February. Sprawled over a 991sq m lot and inspired by modern Brazilian architecture, the home has four bedrooms and three bathrooms and was marketed by Eddie Wardale and Michael Kollosche, of Kollosche. It overs two levels of luxury level, with a standout master suite with a private balcony, walk-in robe, and his and hers ensuite with stone bathtub.

7/19 Broadbeach Blvd, Broadbeach

7. $7.3 million

7/19 Broadbeach Blvd, Broadbeach

Tolemy Stevens, of Harcourts Coastal, kicked off the new year with this big-ticket sale of a two-storey penthouse with a balcony large enough to accommodate a cocktail party for 20 guests. The vendors were former cattle farmers Dean and Theresa Willaton, who swapped country life for the Glitter Strip high-rise, splashing $5.05m on the luxury pad in 2020.

105B Albatross Avenue Mermaid Beach.

8. $7 million

105B Albatross Ave, Mermaid Beach

With five bedrooms, three bathrooms, and a front row set to Mermaid Beach, the Reef House went to market for the first time in 17 years, marketed by Michael Kollosche. The solid three-level beach house has curved walls and high ceilings and was marketed as an opportunity for the new owner to take advantage of the existing strong foundations and renovate or just modernise with their own style.

101/2 Twenty Third Ave, Palm Beach

9. $6.525 million

101/2 Twenty Third Ave, Palm Beach

Kollosche’s Troy Dowker negotiated a high-end deal for this high-end apartment set over two levels right on the sands of Palm Beach. Marble and timber finishes lend a contemporary elegance to open-plan living areas, which open seamlessly onto the alfresco entertaining deck. Designed by Plus Architecture, the near-new duplex makes the most of its 313sq m allotment, with a private lap pool running along the side of the house and shared amenities including another heated pool, sun deck, alfresco terrace and outdoor shower.

2128 The Circle, Hope Island

10. $5.8 million

2128 The Circle, Sanctuary Cove

This quintessential Gold Coast luxury waterfront home was marketed by Matt Gates, of Ray White Sanctuary Cove and sold in February. With four bedrooms and four bathrooms, the home on a 783sq m lot has 27m of water frontage, with an alfresco barbecue terrace and inviting pool to encourage resort-style living. Property records list the owner as Brisbane-based Stefan Ackerie, who is known for his eponymous hair salon chain, and keen interest in boat racing.

Article source: Queensland Property Investor

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