Jock McIlwain’s 1.1ha Mermaid Waters estate on Gold Coast to hit market for first time
The estate owned by one of the most influential figures in Gold Coast development is set to hit the market for the first time.
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JOHN “Jock” McIlwain was the engineer behind the creation of some of the Gold Coast’s finest canal estates, including Sorrento, Broadbeach Waters and Mermaid Waters.
Fittingly, he kept the best part – 1.1ha at the end of cul-de-sac McIlwain Dve – for his own family complete with gardens, tennis pavilion, pool and stately home.
The estate will hit the market next week in the wake of Mr McIlwain’s widow Beverly dying late last this year and could surpass price records for the in-demand suburb.
Dax Roep and Matthew Fritzsche, of Ray White Special Projects, are marketing the property in a five-week expressions-of-interest campaign together with Michael Willems, of Ray White Commercial Gold Coast.
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“It is without doubt one of the most unique and exciting offerings for the Gold Coast this year,” Mr Fritzsche said, adding there were no other blocks of its size in Mermaid Waters or surrounding canal estates.
“It has been retained by the McIlwain family since the development of Mermaid Waters in the 1970s and has never before been offered for sale.”
Mr Roep said he expected strong interest from developers and wealthy individuals looking to secure a “trophy estate”.
“Someone might retain the house in its point position and then carve off some blocks along the way or someone might decide to do a full residential subdivision.
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“It is zoned low-density residential so the most likely use would be a land subdivision.”
The property contains 330 metres of water frontage on three sides. Features include an architect-designed house in its original condition, floodlit tennis court with clubhouse pavilion, pool, landscaped gardens and security gate.
Its land value is listed at $3.4 million although a sale is likely to far exceed that figure.
The highest residential sale in Mermaid Waters was 29-31 Cessnock Close, which sold for $3.25 million in 2017.
That property, which spans 1633sq m, is dwarfed by the McIlwain estate at 1.1ha.
Mr McIlwain died at age 89 in 2016 following a long illness.
He arrived on the Gold Coast in 1960 after being enticed to the area by Sir Bruce Small.
He was the creator of the Gold Coast’s canal estates alongside Sir Bruce, including the areas surrounding Isle of Capri and was the engineer behind Mermaid Waters, Sorrento, Broadbeach Waters.
Mr McIlwain also designed Cavill Ave Mall in the 1960s before it was created in the 1980s and was a leading voice through the 1960s and 1970s helping to secure a casino for the Gold Coast.
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