The cost of buying on Paradise Place, Budds Beach
ONE of only nine riverfront properties at Budds Beach has changed hands for $2.9 million, the third sale in one of the Gold Coast’s most tightly-held streets in less than four months.
The properties all are in Paradise Pl, a street dominated by the sprawling mansion of billionaire developer Bob Ell. The street looks north over an arm of the Nerang River to the twin Atlantis towers and each property has its own beach.
The latest sale is of the house at 8 Paradise Pl, which is nearly 40 years old and sits on an 800sq m site.
The seller was long-time owner Rebecca Mitchell and the buyer is a Brisbane property investor.
A two-level renovated house on 506sq m at 4 Paradise Pl, owned by Queensland Marine Centre principal Andrew Bennett, sold for $2.735 million in November.
The property at No. 6, which had been in the Blondell family since 1962 and contained the second house built at Budds Beach, was sold to a NSW buyer for $2.5 million in October.
The five-bedroom home at No. 2 is currently listed for sale at $4.5 million
Ross Lukin, principal of LJ Hooker Broadbeach, said the buyer of No. 8 had been looking for ‘the perfect location’ on the Gold Coast for some time.
“This property, looking north, in a six-knot boating area, and with a private beach, fitted the bill.”
Mr Lukin said the buyer intended rebuilding on the site and eventually moving family to the Gold Coast.
Mr Ell, in addition to owning the 2504 sqm holding on which he has built a giant family home, owns 26 Paradise Pl, a two-level house on 921sq m.
He is a former owner of 24 Paradise Pl, which adjoins his mansion and was being marketed last year by its owner for the past 14 years at $7.8 million. It will go to auction on Sunday. his