Insane mansion in one of Australia’s most prestigious streets sells for $17m

A jawdropping mansion with a hidden wine cellar has smashed the suburb record in one of Queensland’s most exclusive streets.

A jawdropping mansion in one of the most exclusive streets in the country has smashed the suburb sale price record by selling for $17m.

The luxurious, architecturally-designed property at 8 Minyama Island in Minyama on Queensland’s Sunshine Coast was snapped up by a young businessman from interstate for a price that beats the previous highest sale in the suburb by $5m.

Selling agent Jordan Lund of Elite Lifestyle Properties negotiated the sale, but declined to comment on the identity of the high-profile buyer.

The games room in the property at 8 Minyama Island, Minyama, which has sold for $17m. Photographer: Kelli Black.

The new owner is planning a “substantial” renovation. Photographer: Kelli Black.

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The new owner is in good company with other homeowners on the prestigious island including the owner of a major insurance company, Queensland billionaire Mal Pratt, a plastic surgeon, and a building company founder.

Mr Lund said the property attracted four offers, three from locals looking to upgrade and the buyer.

The near-new property features five bedrooms, five bathrooms, and 10 car spaces, on an 1809 sqm block with a 37m river frontage.

This is what $17m buys you in Minyama. Photographer: Kelli Black.

The home has sweeping views along the river and of Mooloolaba. Photographer: Kelli Black.

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Designed by Morriarchi Architecture and built by Gray Construction Group, it boasts a large pool, outdoor spa, gourmet barbeque facilities, a temperature-controlled hidden wine cellar, and a state-of-the-art gym.

The games room is next level, with a bar and billiards table overlooking an incredible outlook.

Expansive timber decks provide sweeping views of Mooloolaba and the river, with a pontoon and jetty allowing deep water access.

Mr Lund said the new owners planned to make “some substantial changes” despite the pristine condition of the home.

The master suite is huge. Photographer: Kelli Black.

So is the walk-in wardrobe. Photographer: Kelli Black.

“This is the newest build on the island,” Mr Lund said.

“It’s such a lifestyle property. Direct ocean access, you can store a 90m boat out the back — there are not many places anywhere that can do that.”

Mr Lund said Minyama had long been undervalued, but this sale would encourage even higher prices to be achieved going forward.

Walls of glass frame the picture-perfect views. Photographer: Kelli Black.

One of the major selling points is the 37m river frontage and pontoon with direct ocean access. Photographer: Kelli Black.

“We’ve had multiple homes now sell well into the $7 millions,” he said.

“Nine out of 10 are local people upgrading.”

The previous suburb record was held by 9 Minyama Island, which sold for $12m in 2021.

The median house price in Minyama is $2.4m, according to PropTrack, which is a whopping 26 per cent higher than it was only a year ago.

Billionaire businessman, Mal Pratt, listed his Minyama mansion in Cypress Ct last year for offers of more than $25m. It has since been taken off the market.

Ther are water views from nearly every room. Photographer: Kelli Black.

This property at 8 Minyama Island, Minyama, has sold for $17m. Photographer: Kelli Black.

Originally published as Insane mansion in one of Australia’s most prestigious streets sells for $17m