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
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
Buying property on a golf course: why Queensland buyers are spending millions
More buyers than ever are ploughing their cash into exclusive golf front properties, agents say.
On top of waterfront and city pads, homes fronting the peace and quiet of the fairways are being added to the portfolio of wealthy property owners, retirees, avid golfers and now, even young families.
Listed at $4.5 million, it’s a state-of-the-art residence located in the Masters Enclave, a secluded island of only 20 homes literally built in to the course. With an eight-car garage basement, an award-winning kitchen and spacious designer interiors, Mr Gates expects the house will set a new benchmark.
“Homes like these are a limited commodity and this place is exceptional,” Mr Gates says. “The market here is currently really strong.”
Owners Duncan and Judy Forrest built the property at Arnold Palmer Drive 10 years ago after living in waterfront homes at Sanctuary Cove. They say golf front homes win hands down.
“The peace and tranquility here is extraordinary. It’s just so peaceful and serene and the outlook is so beautiful,” Mr Forrest says.
“Living on the waterfront can get noisy with boats and you’re often looking into other people’s homes across the other side of the water. Here, we’ve got uninterrupted views of the landscape and the local wildlife.”
Records show the highest price paid for a golf front home on the Gold Coast was in 2008, when for a luxury property only a few doors down from the Forrests fetched $4 million.
On the Sunshine Coast, golf front properties have changed hands for up to $3.1 million. That record was set in 2010 in Noosa Springs, a premier gated golf front community only five minutes from Noosa’s Main Beach.
“They want to feel secure, they want to feel part of a community and they like the peace and quiet,” she says.
“The security of the gated estate is a massive factor in why so many choose to live here rather than on the river.”
Agent Lianne Wamsteeker recently sold 757/61 Noosa Springs Drive, a stunning contemporary residence asking $2,495,000, to a young couple with three children, which she says debunks the myth that golf course estates are only for retirees.
“The outlook is second to none and it’s such a safe place to bring up children,” she says.
“I’m finding my buyers are getting younger and younger.”
“We’ve got golf course homes at Middle Park that are 20 years old and they’re still so popular – it’s the exclusivity factor,” she says.
“At Brookwater, golf frontage homes regularly sell for over $1 million. You’ve got acres and acres of bushland, fairways, greens and sometimes even water views — what’s not to love about that?”
Originally Published: https://www.domain.com.au/
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