Gold Coast real estate: Surging market sees $944m in $1 million-plus homes sold in a month
More than $30 million worth of high-end real estate is settling every day on the Gold Coast with almost a billion dollars worth changing hands in just four weeks. Here’s who bought and sold the big ones in April.
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MORE than $30 million worth of high-end real estate is settling every day on the Gold Coast with almost a billion dollars worth of million-dollar-plus properties changing hands in just four weeks.
Big-ticket sales include a 40ha farmhouse property at Gilston, a riverfront estate at Carrara and a slew of Sovereign Islands mega-mansions.
Queensland Government records show 389 properties settled in April for a million dollars or more, more than double the 148 transactions settled for the same time last year.
The sales, which include residential and commercial holdings, totalled $944.5 million for the month, an average of $2.43 million each.
There were 47 residential sales between $2-3 million, 19 between $3-4 million, five between $4-5 million and five home sales which topped $5 million.
Large commercial sales, including the settlement of the Robina Home + Life complex from Queensland Investment Corporation for $66 million and an $80 million offload of properties linked to businessman James Frizelle, boosted the total.
The data reveals an 18-year effort to sell a 1.75ha riverfront estate at Carrara finally ended, with former Cable Ski World owner and developer Otto Pfeiffer and wife Stephanie selling the mansion for $10.45 million.
The six-bedroom home at 8-16 Riverbend Ave, which came with a full-size cinema, three room spa ensuite, dressing room and nursery, also featured a tennis court and lap pool.
The Pfeiffers bought it for $1.6 million in 1996 and it had languished on the market, listed on and off at up to $17 million, since 2007.
It was also briefly listed, for seven days, for an expressions of interest campaign in 2003.
Other sales include an 810 sqm development site down the road from Q1, at 12 Hamilton Ave at Surfers Paradise, which sold for $5.1 million to development company APGC Group.
Ian McKavanagh sold his farmland at 822 Gilston Rd, Gilston in an off-market deal to Emma Weel, wife of racing driver Paul, for $7 million.
The Weels listed their jaw-dropping six-bedrom waterfront mansion at 14 Maryland Ave Carrara for $11.95 million in January.
Also settling in April was a fixer-upper at 66 Admiralty Dr, Surfers Paradise, which sold for $4.7 million by Michael and Sohelia Rudd to Vian Li and Hong Ming Yang.
Elsewhere in Paradise Waters, the striking 31 Midshipman Ct, Surfers Paradise sold for $4.15 million by Fumiyo and Tomoyuki Sasaki to Daniel Kelly and Glenda Andrews.
Other transaction topping the $4 million mark were 822 Pacific Pde, Currumbin, which sold for $4.1 million by Prudence Poole to Mark East; and 29 Furlong St, Broadbeach Waters, which sold for $4.25 million by Barbara and Donald Kirk to Mohamed KhaFaji and Claire McLaren.
On the Sovereign Islands, where if you arrive in a BMW you’re underdressed, five sales topped $3 million, including 58 The Sovereign Mile, which sold for $3.1 million by Selma and Seyed Madah to Craig and Donna Loynes.
Sovereign mansion sold also included 22 Excalibur Ct, sold for $3.85 million by Elena Gold to Leim and John De Visser; 13 Parklane Tce, sold for $3.83 million by Wenping Bai and Weifing Jin to Maritza and Maurice Duffill; 41 Parklane Tce, sold for $3.84 million by Carol and Paul Nash to Ishrat Ali; and 19 Knightsbridge Pde East, sold for $3.95 million by Ashley Bell to Jana Lanvin.
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