THE top end of the Gold Coast property market is back — that’s the message in the wake of a $15.5 million deal on a giant Isle of Capri house.
The sale of 57-59 The Corso to Chinese buyers is at the highest price achieved on the Gold Coast since the GFC-afflicted market of 2009.
Seller Mara Spong has been chasing offers of $15 million-plus for three years for her two-level semi-Balinese style mansion.
When it first was marketed it was touted as having a replacement cost in excess of $20 million.
Ms Spong’s sale comes on the heels of deals in the past three months of $13.25 million and $11.5 million on the Mermaid Beach oceanfront and $11 million on Cronin Island.
A sale worth close to $11 million is believed to be in train at Sanctuary Cove.
The buyers of the Spong house are Hongbo Li and Liyan Song and the sale was handled by Doug Hoang, principal of The Venetian Real Estate, Robina.
He is marketing, at $3.695 million, a 420sq m home in Knightsbridge Pde East at the Sovereign Islands, owned by the couple since 2013.
The last $15 million-plus sale on the Gold Coast was in 2009 and involved the $18 million purchase of an Albatross Ave beachfront home at Mermaid Beach by pubs and pokies billionaire Bruce Mathieson and wife Jillian.
The Spong house, which has six bedrooms and six bathrooms, is on a northeast- facing 2197sq m site on a section of the Nerang River known as the Adams Basin.
It has been sold with most of its furnishings.
Professional wrestler Dwayne “the Rock” Johnson famously stayed in the home during filming of disaster movie San Andreas in 2014.
Johnson tweeted a photo appearing to show him in the grounds of the 2197sq m property.
“Mornin’ greetings from the Gold Coast, Australia. #RiseAndGrind #AussieLove” he wrote.
The home was built by surfwear industry pioneer Doug Spong and then wife Mara in the 1990s and spans four lots.
Mr Spong founded the Thin Air accessories business, a supplier to Billabong International, which was turning over nearly $40 million a year when it was eventually sold to Billabong.
Architectural firm Hamilton Hayes Henderson was engaged to design the house and to incorporate ideas and influences the Spongs had picked up in Bali and parts of Asia.
The house, completed in 1999, has basement parking, two floors of living space totalling 1630sq m, and 705sq m of outdoor living areas, including lanais.
The record for an Isle of Capri house is $6.35 million, paid to transport company operator Peter Smith by entrepreneurial businessman David Baird in 2012.
The Spong house’s major features are:
•Six kingsize bedrooms, each with an en suite and with a dressing room off the master suite.
•A kitchen with granite benchtops, European appliances, a butler’s pantry and a cold room.
•Recreation areas that include a waterfront pool, overlooked by a lanai, and a gymnasium.
•A theatre, billiards den, sauna and heated spa.
•A temperature-controlled wine cellar with storage for more than 4000 bottles.
•A porte cochere at the front door and basement parking for six cars.
Original article published at www.goldcoastbulletin.com.au by Quentin Tod 20/7/16
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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