Two families have banded together to sell their Gold Coast properties together, offered as a package deal in effort to attract a developer with deep pockets.
The two neighbouring blocks of land are on the Isle of Capri, a tightly-held Gold Coast suburb.
“The owners are trying to get creative instead of just offloading,” selling agent Eddie Wardale, of Ray White Broadbeach, said.
Mr Wardale’s offsider Josh Longhitano said the sale was rare for the Gold Coast.
“They’re actually family friends so it worked out well,” he said. “It’s the first one I’ve seen.”
The vendors would consider offers above $2 million for the blocks, which, when combined, had a total of 1852 square metres of land, seven bedrooms and four bathrooms between them.
The first block, 108 Salerno Street, also featured an extended water frontage, which Mr Longhitano said offered the opportunity to build a master bedroom right on the water, pool or entertainment area.
The two block deal was listed on Friday, and it attracted a lot of attention.
“Yeah we’ve had offers, the first phone call we got was an offer for both lots,” Mr Longhitano said.
Mr Wardale said developers were a little apprehensive to take up the offer, though.
“The issue with the area is that in order to get approvals for any sort of development there would be quite a tiring process to get a material change of use in a low density area,” he said.
He said the vendors had hoped it would be turned into townhouses or other similar medium density homes.
“There was recently development of a property nearby of four townhouses, so it’s set the precinct up for more develop,” Mr Wardale said.
The owners were open to selling the lots separately, and the selling agents said the two houses could be knocked down or renovated.
“They’re both renovators, if they were sold separately,” said Mr Longhitano.
Gold Coast mega mansion sells for millions in cash in just two days
TWO mega-mansions on the Gold Coast fetched the biggest prices in Queensland in the past week, according to CoreLogic.
TWO mega mansions on the Gold Coast fetched the biggest dollars in Queensland in the past week, according to property analytics company CoreLogic.
An architecturally designed home on Main River in Broadbeach Waters sold for $2.95 million in just two days to an expat living visiting from Hong Kong.
Features include a large boat pontoon, freshwater pool, Bali hut, outdoor shower and riverside deck with skyline views.
Scott Dytor of Dytor & Yates said the buyer was on the Gold Coast for the Magic Millions Raceday pre-sales and saw the property listed for sale in the window of the agency.
A five-bedroom, six-bathroom home on 2000 sqm at Sanctuary Cove was the second biggest sale of the week, according to CoreLogic.
The house has been home to a number of star tenants, including Brad Pitt, Angelina Jolie, Pink, Harry Styles, Dave Grohl, Paris Hilton and Johnny Depp.
Multi-million dollar sale price for Palm Beach waterfront mansion
A “DREAM home” on a prime waterfront block in the southeast has been snapped up for a multimillion-dollar figure prior to going to auction.
The waterfront property at Palm Beach sold within two weeks of hitting the market, and ahead of its scheduled auction on December 2.
The residence was on the cover of the Gold Coast Bulletin’s Realestate on November 18.
The five-bedroom, four-bathroom home at Barracuda Court, was built by vendors Ian and Jill Campbell.
Katrina Walsh of Harcourts Coastal marketed the property.
“The purchaser wanted to snap up the property prior to it going to auction,” Ms Walsh said.
“They recognised the beautiful property and put in an offer to make sure they owned it.”
She declined to disclose the purchase price.
Property records show the couple bought the 1085 sq m block in 2008 for $1.25 million.
The Campbells told the Bulletin it was their “dream block” after waiting 28 years for something like it to become available on the point.
The couple demolished the original house, a big old structure, and rebuilt the contemporary mansion in its place, with one major element in mind — to have water views from every room.
There is a choice of two master bedrooms, both looking out over the canal. One occupies a waterfront wing on the ground floor, while the other is mirrored on the upper level.
The residence features a pool with a water curtain and reflection ponds inside.
The home also includes an executive office, open retreat with waterfront balcony, media lounge room and a spacious family room.
The residence was Queensland’s most popular listing last week, with the highest number of views on realestate.com.au.
Originally Published: www.realestate.com.au
Gold Coast mansion to sell for $7 million profit in two years
A Gold Coast business identity stands to make close to $7 million profit on his house in only two years.
Records show business identity Jonathan Grasso, co-founder and managing partner of property consulting group Belvue International, purchased 131-135 Monaco St, Broadbeach Waters, with his wife, Roberta, in 2015 for $3.14 million.
Only two years later, it’s back on the market with a list price of $9.95 million — representing a tidy $6.81 million profit.
If the Grassos’ mansion sells for the list price, it would mean it has risen by a whopping 217 per cent of its original value, a staggering result given the time frame.
For $9.95 million, the Grassos’ home offers exceptional luxury. Set on a prime 2303 square metre block with 24 metres of north-to main river frontage, this tri-level architecturally designed residence spans 130 squares and includes self-contained nanny quarters, wine and piano lounge, riverfront cabana, 25-metre heated lap pool, 12-metre pontoon with power, five bedrooms, seven bathrooms and a 10-car basement garage with cinema.
“These owners were lucky; they bought this property a couple of years ago when the market was much flatter and now they’re selling at a time where there’s been a flurry of activity in this street, with a number of properties transacting in recent months,” he says.
“It’s usually very hard to get in there (Monaco Street). The properties there are very tightly held.”
Monaco Street, an exclusive stretch of Broadbeach fronting the Nerang River, has long been famous for its multimillion-dollar mega-mansions and high profile owners — and a string of recent jaw-dropping transactions has only reinforced its position as one of the Gold Coast’s most exclusive addresses.
Recent sales in the street include 255 Monaco Street, Broadbeach Waters, which Mr Kollosche sold in an off market deal for $11 million.
201-205 Monaco Street, which sold for $9.5 million in only 21 days, was purchased by a Taiwanese billionaire who bought it as a holiday house for his son.
75-77 Monaco Street, also brokered by Mr Kollosche, sold last month for $9 million.
Prestige property on the Gold Coast continues to go from strength to strength. Figures from the Domain Group’s rental and house price report show houses on the Gold Coast grew by 7.3 per cent overall last year — the best result of all major Queensland regional markets.
More than half of the top 20 property sales in Queensland were made on the Gold Coast last year; the top five alone, all located at Surfers Paradise and Mermaid Beach, totalled $76.2 million.
Originally Published: https://www.domain.com.au
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