Millionaires row — aka Hedges Avenue — on the brink of a property boom
THERE are eight beachfront homes on the market on exclusive Hedges Ave and agents predict all it will take is one sale to get the ball rolling.
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PROPERTY watchers are tipping the auction of a luxury pad on millionaires’ row next Sunday will spark a revival of the beachfront market.
Eight beachfront homes remain for sale after being listed in recent months, in addition to a house on the west side of Hedges Ave and a handful of deluxe units.
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First off is 73 Hedges Ave — Frank Goldstein’s home of 27 years — which will head to auction on February 8, with marketing agent Luke Henderson assuring that Mr Goldstein was determined to sell on the day.
“I think it will be the first one to sell and start the trend,” the Professionals Mermaid Beach director said.
Other mansions listed for sale along Hedges include John Potter’s home at 9-11, the ex-home of 1970s AFL footballer Rod Galt at No. 31, former Hayman Homes owner Stephen Anderson’s property at No. 239 and Mr Frost’s 810sq m block at No. 243.
Also on the beachfront market is an old family beach shack at 151 Hedges Ave and former ANZ chief executive John McFarlane’s villa at 1/161, listed for $5 million.
Not all are taking their dream homes to the local market however, with tourism mogul Frank Picone continuing to target the Chinese market for his 159 Hedges Ave mansion.
While marking a clear upswing in listings compared to last year, Mr Henderson believes the number of Hedges properties for sale simply reflected the season.
“Sellers may have to look outside of the Gold Coast market for some buyers to be able to afford Hedges Ave,” he said.
“January is a great time to be showing off your property — we’ve always got listings and always got sales happening at this time of the year.”
Mr Newlands and London Estate Agents director Ron London are expecting the prestige market will only pick up heading into February and March but some price adjustments may be necessary to achieve sales.
“If you looked at where a couple of them are priced, you’d find out that they’re not sellable and that comes down to people seeing that the market has improved and testing the waters,” Mr London said.
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