Beach house bought for $200k sells for $28m in biggest deal in Qld this year

Queensland’s biggest residential property sale of 2023 has been inked in a hush-hush deal understood to be worth $28m.

Queensland’s biggest residential property sale of 2023 has been inked in a hush-hush deal understood to be worth $28 million, making it the state’s third highest home sale in history.

The beachfront property occupying more than 3500 sqm of land with a 62m beach frontage at 33 Ross Crescent in Sunshine Beach last sold in 1987 for just $200,000.

This property at 33 Ross Crescent, Sunshine Beach, has sold for $28m.

Owned by Thomas and Penelope Sykes for the past 36 years, records show they built the current house in 1989, and the photos indicate they have made few improvements since — except for a stunning pool.

Selling agent Tom Offermann of Tom Offermann Real Estate confirmed the sale, but was tight-lipped about the price, citing that he had signed a non-disclosure agreement. The buyer remains confidential.

This property at 33 Ross Crescent, Sunshine Beach, has sold for the highest residential price in Queensland this year.

At the time of listing, Mr Offermann said the property was one of his favourites because of it’s size, wide frontage, and “such privacy that few people even know that it exists”.

“The new owners will likely be someone from Brisbane, Sydney or Melbourne making a sea change.

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“It could be someone that owns a prior property in Noosa or the waterways that want a more prominent space around them,” he said.

Herron Todd White director and Sunshine Beach local Stuart Greensill confirmed the sale price.

Veteran Noosa real estate agent Tom Offermann negotiated the sale of 33 Ross Crescent, Sunshine Beach. Photo: Scott Burrows.

“To have a site of that nature that provides that wide a (beach) frontage is pretty rare,” Mr Greensill said.

While he said the house was solid and definitely liveable, it was likely the buyers would make improvements.

“You’re not buying the house, let’s be honest. Then how much do you spend in this environment. You’re then talking another $3 million, another $4 million, another $5 million?”

The house at 33 Ross Crescent, Sunshine Beach, was built more than three decades ago.

The property is one-of-a-kind with incredible views of the Coral Sea, only one neighbour, and adjoining naturally vegetated parkland to the south.

Designed by architect Geoffrey Pie, the five-bedroom home positioned at the top of the block takes in views of the crashing waves and is surrounded by established gardens of palm trees.

33 Ross Crescent, Sunshine Beach, has sold for the first time in nearly 40 years. Photo: Tom Offermann Real Estate.

Less than 1km up the sands, the home at 17 Webb Rd, Sunshine Beach, took the crown for Queensland’s most expensive property deal in 2021, when it sold off-market for $34m to none other than Gina Rinehart.

The modern coastal-inspired home on a 2015 sqm battle-axe block sold for nearly double what its neighbours did in 2018. The deal finally settled in March this year.

Webb House at 17 Webb Rd, Sunshine Beach, is the most expensive home ever sold in Queensland. Picture: Damien Davidson Builders.

The second biggest sale of all time in Queensland is also in Sunshine Beach. 24 Arakoon Crescent fetched $28.5m in 2020.

Mr Greensill said the prestige market in Queensland seemed to be “defying gravity”.

“If you look at when the GFC was hitting, we used to have a cohort of baby boomers, etc and a lot buying with a view to moving into their properties in 10 to 15 years time,” he said.

“Now, we’re 10 to 15 years down the track, and when you think about it, that cohort has gotten to retirement age, so there seems to be a lot more PPR (principal place of residence) purchases on the coast.

“We’re also seeing the rise of the tech guys, health is pretty big, and some of the people are those who have done really well overseas and are now moving back.”