No homes listed for sale on Hedges Ave Mermaid Beach as wealthy new faces set to move in

The Gold Coast’s beachfront housing market “has never been tighter”, but there are still options for buyers in some of the city’s most exclusive enclaves. HERE’S WHAT THEY NEED TO DO >>>

GOLD Coast’s beachfront housing market “has never been tighter”, with off-market buying the only option for buyers who have their hearts set on some of the city’s most exclusive streets.

There are currently no homes advertised for sale on exclusive Hedges Ave, despite a flurry of interest from deep-pocketed buyers who have sent price records tumbling.

New faces on Hedges include construction industry veteran Mick Power and wife Denise, who plan a move to Mermaid Beach’s ‘millionaires row’ after spending a record-breaking $15.5 million on land.

95 and 97 Hedges Ave Mermaid Beach. They are going to be demolished to make way for a new mansion owned by construction industry veteran Mick Power and wife Denise. Picture: Mike Batterham

The couple bought 97 Hedges Ave from Bridget Deer, wife of Ignite Travel founder Randall Deer.

UPDATED: WHO BOUGHT AND SOLD ON HEDGES AVE IN EXCLUSIVE GOLD COAST MILLIONAIRE’S ROW, MERMAID BEACH

That record only stood a few days, with Nava Abedian, wife of Sunland Group’s Sahba Abedian, landing a $17.5m sale for her vacant 900sq m corner lot to Andrew Fahey, one of the founders of listed online bookmaker PointsBet.

Mr Fahey and partner Katrina Luland recently moved to the Palm Beach beachfront from Melbourne.

Long-time Hedges owners Kevin and Nora Joyce sold No. 131 in June, settling for $6.6m from supplements businessman Michael Brosnan.

$17.5m piece of land at 141 Hedges Ave, Mermaid Beach.

HEDGES AVE, MERMAID BEACH: WHY RICH FAVOUR GOLD COAST’S MILLIONAIRE’S ROW

Those top-end sales make last month’s $2.75m sale of a duplex on 405 sqm across the road look like a bargain.

The two three-bedroom units at No. 86 sold to Bell Co, a company directed by Brisbane property players Kate and Richard Bell. The Bells also own the mansion at No. 177, which they picked up for $5.75m in 2006.

Kollosche agent Troy Dowker said the Gold Coast beachfront market “has never been tighter”.

“It reinforces how hard it is to actually acquire something,” he said.

“Searching a property off-market, you’re looking at paying a price that’s in line with the seller’s expectations – but you are going to have to benefit of having first bite of the cherry.”

For those keen to nab themselves a nibble of Gold Coast’s most exclusive street, there are some relatively cheaper options available – if you’re willing to share a roof and forgo a backyard.

Apartments currently listed for sale Hedges Ave include:

* 5/143 and 7/143: Each of these two-bedroom, one-bathroom apartments, in a beachfront complex of eight, have no price listed. Unit 7 sold for $1.08m in 2007.

* 302/272: This two-bed, two-bath, 155 sqm apartment in Sunland’s under-construction tower is under offer at an undisclosed price.

* 2702/272: The four-bedroom, four-bathroom, two-floor, 513 sqm “sky villa” in the Sunland tower doesn’t qualify as a cheap option – it will set its buyer back $8.5m

* 11/280: The seller of this two-bed, one bath refurbished apartment is chasing offers of over $600,00 for the Blue Pacific unit and its “ocean glimpses”.

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