ONE of the Gold Coast’s most recognisable waterfront mansions, once dubbed the “Addams Family house” has sold for almost $6 million.
The three-level Surfers Paradise house, previously featured in the Gold Coast Bulletin’s 50 Dream Homes magazine, underwent a multi-million transformation before it hit the market in August, 2017 through an expressions of interest campaign.
It was listed at $6.95 million in October before dropping to $6.25 million in February.
It’s now under contract for close to $6 million — it’s understood a local Chinese buyer bought the property.
Vendor Pat Worboys bought the mansion with a ‘widows walk’ and sharp spires for $4.025 million in 2014.
Armed with a set of plans and the guidance of her designer Michelle Marsden, she transformed the Victorian property into a dreamy French Chateau in 18 months.
The mother-of-three said she took on the impossible renovation challenge after getting advice from a number of architects.
“We bought it on December 14 and decided to have an ‘Addams Family’ Christmas party before ripping out all the old interiors,” she told the Bulletin at the time.
“I knew it was going to a be a renovation that you had to put all in or nothing.
“We wanted to keep the integrity of the house but create a more liveable space with more light.”
Sam Guo and Julia Kuo of Ray White Broadbeach handled the sale and described the property as a “landmark residence”.
Inspired by a classic French Chateau, the house has iron balconies, imported french window shutters and a grand staircase.
With an internal lift, the home boasts the finest fittings and fixtures, including imported marble, polished Italian Shivakashi granite, pristine Baltic Oak parquetry floors and a grand staircase.
In a rare point position at the end of a cul-de-sac and set out over a sprawling 1102sq m, the property has 180-degree Hinterland and skyline views.
All the bedrooms feature ensuites and walk-in robes, complete with ducted airconditioning and plenty of views.
The renovation included moving the pool, creating an outdoor entertaining space and putting in a balcony on the third level which required a 100m crane.
The house originally belonged to a European couple who built the house in 2000.
The best luxury Gold Coast apartments on the market for over $2 million
Local agents are reporting there is just not enough high-end stock to meet the demand for local and interstate buyers wanting to spend more on their holiday home, in the wake of the COVID-19 pandemic
The Gold Coast is running out of apartments.
That’s the data pulled by property consultancy firm Urbis, who say there is just over two months of stock left on the Gold Coast, if there were to be no new project released and current demand continued.
Local agents are reporting there is just not enough high-end stock to meet the demand for local and interstate buyers wanting to spend more on their holiday home, in the wake of the COVID-19 pandemic.
They are expecting a wave of buyers to be flying up from Sydney and Melbourne when the borders open, and are expecting little slowdown heading in to January
Urban has wrapped up the top apartments across the Gold Coast at the high-end price point.
Three-bedroom full-floor apartments from $2.1 million
The hotly anticipated Aperture, which will be one of the most high-end apartment developments in Broadbeach when completed in mid-2023, will have just 29 apartments across its 35 levels.
There will be 26 full-floor apartments, each spanning over 200 sqm of internal and external space. Each will comprise three bedrooms, three bathrooms, and three parking spaces.
Following on from their successful first tower in Broadbeach, Signature, which sold out earlier this year, the Melbourne-based Little Projects took a different approach to Aperture, which refers to the opening of a lens’s diaphragm through which light passes.
The AU, Surfers Paradise
Three-bedroom full-floor apartments from $3.45 million
The AU, a collection of just 12 exclusive full-floor oceanview sky homes and two opulent three-level penthouses, has just launched on the sought-after Esplanade in Surfers Paradise.
Archidiom put the plans together for the 19-storey tower, with a facade made almost entirely of golden glass. It allows each apartment to have clear panoramic views of the Surfers Paradise beach.
The developer, ASF Group, enlisted the expertise of the Sydney-based interior design legend Greg Natale to craft the interiors, something no other Gold Coast apartment development can boast.
The apartments will have the finest finishes, with natural stone bench tops, and gold fixtures and finishes throughout.
Chevron One, Chevron Island
Four-bedroom sky homes from $3,325,000
Chevron One, set to reign as Chevron Island’s only luxury high-rise apartment tower, recently released its Sky Home collection, starting from level 31 in the sought-after apartment development.
The Melbourne-based Bensons Property Group held off releasing the apartments publicly, but given the huge demand in ultra-luxury, large apartments in the sky, they decided to list them on the open market.
When complete, Chevron One will be the tallest tower on the exclusive island, and the tallest there ever will be, with the Gold Coast City Council two years ago bringing in strict planning laws, limiting future apartment projects to 33 metres, or 12 storeys.
There’s a number of three and four-bedroom Sky Homes, some spanning half and full-floors. Four-bedroom apartments, with over 236 sqm of living space, are priced from $3,325,000.
Emerson, Kirra Beach
Three-bedroom full-floor apartments from $2.95 million
Emerson, set on the dress circle Musgrave Street in Kirra Beach, Coolangatta, will home just 27 apartments when it is completed in late October.
There are only six apartments left to sell in the $85 million, 13-level development by the Melbourne-based developer Hirsch & Faigen, who sold out The Hemingway at Palm Beach earlier this year. They’re soon to launch their third Gold Coast project, Yves at Mermaid Beach.
Crowning Emerson, which will begin construction through Hutchies in February, will be an $8 million penthouse, which is yet to be snapped up.
Three-bedroom full-floor apartments from $2.65 million
The Brisbane-based developer Bottega Group are marketing their $52 million Broadbeach apartment block, 123OBR, described as vertically stacked verdant Queensland beach houses.
Named after its location of 123 Old Burleigh Road, one row back from Broadbeach, and designed by Woods Bagot, 123OBR will have 14 whole-floor apartments, as well as a whole floor resort deck half way up the tower.
Priced from $2.65 million, a typical whole-floor apartment at 123OBR will offer 224 sqm of living space with three bedrooms with walk-in wardrobes, two bathrooms and an open plan living and dining areas which have views through the floor-to-ceiling glass windows.
Three-bedroom full-floor apartments from $3,245,000
Residents of the new luxury Main Beach apartment development, La Mer, will have the ultimate Gold Coast lifestyle on their doorstep when the whole-floor apartments are finished in late 2023.
Across the road from the beach on Main Beach Parade, La Mer comprises just 29 apartments across its 34 levels, with only a handful of apartments remaining.
Just whole-floor apartments, starting from 307 sqm, La Mer is pitching itself as the ultimate downsizer development. “Transitioning from a house to an apartment has never been easier,” NPA Projects, who are marketing the development, suggest.
Communal recreational facilities also sprawl across an entire floor, a blend of physical wellbeing and entertainment facilities. There’s a 13-metre pool, which is cleverly designed to be private, while also being open plan to take advantage of the consistent Gold Coast climate and the views to the beach.
Article Source: www.urban.com.au
How prestige buyers shaped the Gold Coast’s record-breaking property boom
Two years ago, prestige property prices across the Gold Coast were all but becalmed on a stagnant sea that left luxury mansions sitting like flotsam and jetsam in the listings following a decade of static growth.
But just when it felt like the city’s gleam could fade, the perfect storm of COVID-19 and low interest rates propelled luxury home prices to unprecedented heights to cement a year of record-breaking growth that saw Surfers Paradise and Southport named two of the country’s top-selling suburbs.
Fuelled by a mammoth sea-change trend, home prices in primely positioned pockets across the ‘’glitter strip” rose by up to 44 per cent and shot 11 suburbs into the million-dollar-median club – a club that consisted of just Mermaid Beach and Surfers Paradise 12 months earlier.
The figures, lifted from Domain’s September House Price Report for 2021, revealed buyers converged on the luxury property sector like moths to a flame with Miami house prices shooting beyond 44 per cent to $1.205 million in a year and Mermaid Waters house prices rising by 41.9 per cent to $1.22 million.
In neighbouring Mermaid Beach, a colossal 32.4 per cent hike sent house prices to a historic $2.075 million.
But while the voracious growth decimated stock levels and burst the seaside dream for thousands of buyers hoping to bag a bargain by the beach, Ray White Surfers Paradise Group CEO Andrew Bell said after almost 24 months of price hikes the fever was breaking.
“Twenty months ago, you couldn’t have imagined the prices we’d achieve. This is the greatest boom in the history of the country … and the last thing I can remember that was close to this was 1988 and ’99 after the stock market crashed,” Bell said.
“People pulled their money out of shares and ploughed it back into real estate but it was short-lived. This boom is even stronger.
“The difference now is the cheap money. People are more cavalier with it and it’s so affordable.
“But all markets, whether it’s gold or oil, go through cycles and property is so aligned to the economic cycle. So, we were due for a boom … and if you follow the cycles, two years of a boom market is about as long as they last.
“Now there are signals out there showing the brakes are being applied whether that’s the regulations into borrowing [announced on November 1], chats about interest rates rising and then affordability being tested. You get half a dozen of those things like this and it’s like putting an anchor out.”
While the anchor might have been dropped, the city moved up the search rankings to top place for overseas buyers, according to PropTrack’s Overseas Search Data Report released last month, with units in Surfers Paradise topping the national list for sales value, according to figures found in the Domain House Price Report.
The mass return of expats could also see the anchor lifted in early next year, with the city’s annual auction – called The Event – tipped to be the best yet for the Ray White Surfers Paradise Group when it kicks off on January 23 at RACV Royal Pines Resort in Benowa.
Looking back over the past year, prestige property specialist Michael Kollosche, of real estate agency Kollosche, said the depth of the market was astonishing and had resulted in the firm collecting just over $230 million in unconditional sales in October alone.
The team also achieved a handful of jaw-dropping sales such as 159 Hedges Avenue, Mermaid Beach, which recently fetched $15.75 million.
“There have been a lot of sales in that $10 to $16 million range this year and a large portion of them were to locals with a few coming out of Sydney and Melbourne,” Kollosche said.
“I sold a block of land alone [900 square metres] at 139-141 Hedges Avenue for $17.5 million [in August].
“I think the market will remain reasonably stable over the next 12 months because the Gold Coast is well-positioned with the [Brisbane 2032 Olympics] and there’s a lot of infrastructure spending.”
For the team at Amir Prestige Property Agents, the year was equally fruitful, after principal and director Amir Mian collected a suburb-record-smashing $23.75 million for the spectacular 5 McMillan Court, Southport, in March this year.
The sale came hot on the heels of yet another record-breaking sale for the firm at 187-191 Hedges Avenue, which achieved $22.5 million in the latter half of last year.
“The Gold Coast is poised for a pretty good decade between now and the Olympics … and I think it’s to do with the number of buyers who want clean air, a nice environment and a nice back yard,” Mian said.
“A highlight sale for us was 41-45 The Promenade, Isle of Capri, which sold for $26.998 million … all our top sales were pretty much suburb record-breakers … and people are more than just getting caught in the Gold Coast movement – they are putting their kids in the school here, and they are changing their jobs to live here.”
Top three Gold Coast homes on the market:
2585 Gracemere Circuit, Hope Island
Versace-inspired seven-bedroom, seven-bathroom mansion on a sprawling 5371-square-metre block with river and hinterland views.
Additional features include a swimming pool, spa and a king-sized pontoon.
Claire Dai from Kollosche is selling the home with a guide of $16.8 million.
5681 Anchorage Terrace, Sanctuary Cove
Meticulous six-bedroom, six-bathroom waterfront estate on a 2360-square-metre block.
Luxury additions include marble floors, a gold-class style home cinema, a billiards room and a double-length pontoon.
Amir Mian from Amir Mian Prestige is selling the home with a guide of $12.85 million.
22-24 Admiralty Drive, Paradise Waters
A prime 1351 square metres of one of the Gold Coast’s most elite pockets with striking architectural finishes throughout the five-bedroom, seven-bathroom home that features a media room, an enclosed indoor swimming pool, and a riverfront pontoon.
Robert Graham from Ray White Surfers Paradise takes the home to auction on January 23.
Article Source: www.domain.com.au
Best market we’ve ever seen’ – QLD sales achieve record results
The Queensland market has been roaring throughout 2021, with median prices up around +20 per cent for the year across the state.
Where other areas in the country are now beginning to soften, vendors in the Sunshine State are still experiencing incredible selling conditions that are leading to standout results everywhere you look.
We spoke to top agents in Brisbane and the Sunshine Coast to explore some of their recent sales and just how strong the local market is.
Sunshine Coast homes attract record prices in clear seller’s market
“I can’t recall the amount of activity I’ve seen internationally and interstate coming to Pelican Waters and particularly the Sunshine Coast,” explains Linda Feltman of McGrath in Caloundra.
“Everything is selling well above expectations. It’s even surprising agents sometimes.”
Since the pandemic hit, the Sunshine Coast has been one of the most desirable parts of the country when it comes to property. With its ideal weather, minimal impacts from Covid shutdowns and overall lifestyle benefits, it’s easy to see why.
The sale of 26 Millennium Circuit in Pelican Waters, the lakeside suburb which sits on the southern tip of the Sunshine Coast region, is a great example of the success sellers in the area are experiencing.
The stunning lakeside home boasted four bedrooms plus a guest wing, huge open living and dining, a gold class cinema, a large pool and spa, and views of the internationally renowned Pelican Waters Golf Club.
“From the moment it went online, we had 66 enquiries within 24 hours,” Ms Feltman says.
The owners were hoping for any offers over $2m, and with the huge levels of buyer interest, they ended up securing a fantastic result at $2.2m, a record sale for the lake area.
8 Bond St was another big hit for the area. The modern, sun-drenched four-bedder was on the market for offers over $1.495m, and again expectations were exceeded when the deal was done at $1.8m.
“On average, at the moment we’re getting anywhere from 100 to 170 enquiries per property,” Ms Feltman explains.
“We’re also dealing with a minimum of three to four offers. One of my properties the other day had nine offers.
“We’ve got huge demand and we haven’t got enough listings, so the supply is low and the demand is high. So whenever you have those two factors—and it’s like that at the moment—obviously it’s a seller’s market, and there are a lot of families that need to purchase on the Sunshine Coast.”
Brisbane sellers in the ‘best market we’ve ever seen’
“If I was to describe the market quite simply I would describe it as an absolute seller’s market,” says Tony O’Doherty, principal at Belle Property Bulimba.
“It’s often hard to know what market you’re in, and it’s very rare that it’s such an extreme one-sided market,” he explains.
“There is no line in the sand… the market has been as good as it’s been in the Brisbane environment.”
The Queensland capital has, similarly to the Sunshine Coast, been experiencing a historic boom that’s led to some remarkable results for sellers.
30 Grosvenor St in Balmoral is what Mr O’Doherty calls a very good example as to how the market is performing.
The five-bed family home attracted a wide array of buyers including people from overseas and interstate.
“We had people from America, Byron Bay, Sydney, Melbourne, and a lot of Brisbanites,” he says, adding that despite the media attention on how many out-of-towners have been showing interest in Queensland real estate, “most of our transactions are people who already live in the suburb.”
The owners of the Balmoral house originally purchased the property for $1.3m in 2015. Since then it hasn’t undergone any significant renovations.
After debating when to sell, they felt the market conditions gave them the confidence to list. Fast forward to November 2021 and it sold for $2.15m, a staggering +66 per cent increase in just six years.
Mr O’Doherty also points to the recent sale of 22 Orchard St in nearby Hawthorne as a demonstration of the current power of the market.
Just last year the owners had the three-bedroom house on the market for an extended period and couldn’t achieve a $1m price. In the 2021 market, the property sold for $1.415m.
These kinds of results aren’t only being seen in a particular price bracket, either. “It’s right the way through the market. It’s the million-dollar product, it’s the seven million dollar product, and everything in between,” Mr O’Doherty says.
“If you are a seller and you want to transact your home, this is the best market we’ve ever seen.”
What’s next for Queensland property?
While there’s talk of the property boom reaching its peak in other key markets like Sydney and Melbourne, the near future still looks very bright in the Sunshine State.
Ms Feltman expects that, once the state’s borders open in mid-December, there may be a short lull in activity as families reunite.
“But after that, once mid-January comes along, I think it’s going to be extremely busy because people will be up here and they’re going to be ready to go into real estate mode and need to buy fairly quickly,” she says.
“I envisage the next six months on the Sunshine Coast will be phenomenal, and then after that, it will depend.
“I think people will start to travel again comfortably, I think that’s going to definitely play a part in the real estate industry.”
She also points out that the 2032 Olympics announcement has set off a wave of new investor interest, so the long-term growth prospects for the region are extremely strong too.
Mr O’Doherty notes that Brisbane has seen a huge amount of growth in a short period, to the point that it puts things in uncharted territory and makes the future difficult to predict.
“This is not a natural economy, you’ve got a lot of money circulating that wouldn’t be if it wasn’t for Covid,” he says.
“I believe we’re in such a heavily geared seller’s market, if you are a seller waiting to sell—what are you waiting for?
“If you’re looking to buy, if you buy the right block size in the right location, it’ll never go backwards. If you’re looking to sell, it’s an absolute seller’s market.”
Article Source: www.openagent.com.au
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