More than $1.1bn in million-dollar-plus property sales settled on the Gold Coast in July
For the first time, more than a billion dollars worth of $1m-plus properties have changed hands on the Gold Coast in a single month. FIND OUT WHO BOUGHT WHERE >>>
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For the first time, more than a billion dollars worth of $1m-plus properties have changed hands on the Gold Coast in a single month with 524 high-end transactions settled in July.
Among the settlements recorded by the Queensland Government were the $58.5m sales of Niecon Tower and Niecon Plaza, bought by the family of late seafood king George Raptis, which plans a $700m project there.
The price of the northern Gold Coast’s next big public project has also been revealed, with Gold Coast City Council paying $12m for the 288-acre farming property at Stewart’s Rd Pimpama, which is set to become sport and recreation space.
At Carrara, businessman James Frizelle sold another hefty chunk of his portfolio, offloading a vast commercial site, currently a recycling centre, at 110 Eastlake St for $10m to Gold Coast City Council.
Other big commercial deals included the $21.5m sale of an Olsen Ave service station and retail centre; the $10.34m sale of a medical centre site at Foxwell Rd Coomera; the $7.2m sale of land at Varsity Lakes to Coles Group and two horse stables in Bundall worth $4.5m and $5.5m.
Luxury home sales to settle included an apartment in the tightly-held Ocean Isles building at Main Beach, with Malvern Holdings, directed by financial Adviser Andrew Lockhart, splashing $5.8m on the unit sold by Computershare billionaire Chris Morris.
Mr Morris emerged as the $15.75m buyer of 159 Hedges Ave in April.
July saw the settlement of another Hedges mega-sale, with Denise Power, wife of construction king Mick, settling on No. 97 for $15.5m.
In the exclusive Paradise Waters pocket of Surfers Paradise, Walter Elliott, 82, sold his vast vacant waterfront block at 85 Admiralty Dr for $8m to Maree Anderson, smashing the record for vacant land in the area.
Mr Elliott had picked up the 1600 sqm site for $4.55m in 2016.
In Sanctuary Cove, Carol and Michael Chapman settled the $6.1m sale of 7402 Marine Drive East to John Edwards, six years after paying $4.5m for it.
Paradise Waters saw seven high-end properties change hands in July, including the settlement of a property owned by Mayor Tom Tate and wife Ruth at 36 Buccaneer Ct, which sold to Don and Ines Ngo for $3.675m.
The Tates bought the five-bedroom home for $2.7m a year earlier and it had been rented out at $2500 a week.
Two doors down, at No. 28, Daniel and Ingrid Matruglio sold their waterfront property to James and Lynette Petroccitto for $3.3m.
Around the riverbend at Commodore Dr, the mammoth six-bedroom mansion at No. 59 changed hands for $5.15m – sold by Mario Fairlie to Kevin Hughes of Bendigo.
The little-known, tightly-held Cronin Island, also in Surfers Paradise, saw two huge sales in July, including the $7.3m sale of No. 16 Southern Cross Dr by the ex-wife of disgraced former Billabong boss Matthew Perrin.
Nicole Bricknell had been trying to sell the luxurious property for almost two years.
Meanwhile, Fuji Xerox Business Centre managing director David Hamilton, sold No. 17 for $8.9m to Xingfang Xu.
At Broadbeach, apartments drew some big sales, with Melbourne smash repair businessman Garry Belford splashing $4.1m on a unit in 31 Broadbeach and John McHarry, another Victorian businessman, picking up an apartment in La Grande for $3m.
Greg and Mandy Targett picked up a penthouse in one of the city’s most sought-after apartment projects, Mali Residences at Mermaid Beach, paying the developer $4.295m for the privilege.
eBay “guru” Matthew Clarkson and wife Amanda settled the sale of their former home at Seashell Ave in Mermaid Beach for $5.5m to Angela Todd.
Palm Beach continued its run of big sales, with a company directed by developer Dean Pask buying two neighbouring beachfront homes at 474 and 476 The Esplanade.
Pamela and Ray Ison offloaded No. 474 to Casana Development for $5.4m, while their neighbour Ross Mallett scored the same deal for No. 476.
The Sovereign Islands saw two sales settled above $4m, including the $5.075m sale of 34 Hampton Ct to Lance and Jacqueline Dummett.
The seller was company IAustralia, directed by David and Illse Sinclair.
Nearby, Kim England picked up 11 Knightsbridge Pde East for $4.22m from Kathleen and Walter Alteri.
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Originally published as More than $1.1bn in million-dollar-plus property sales settled on the Gold Coast in July
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