Estate’s price falls short of a record
A LUXURIOUS Mudgeeraba estate that was poised to break a suburb record has changed hands in a multimillion-dollar deal without setting a new benchmark.
The opulent acreage home in Jabiru Estate hit the market in March with a whopping $4.25 million price guide before moving to an auction campaign, CoreLogic records show.
A price tag of $3.79 million was later attached to the property in April.
The initial price hopes would have knocked Mudgeeraba’s $4.19 million residential record from top spot.
It was also $1.8 million more than the $2.45 million the vendors paid for the property in November 2016.
Property records show they made no major upgrades to the house in the almost three years they owned it.
It sold for $3.6 million earlier this month, meaning the vendors pocketed $1.15 million.
Harcourts Coastal agent Katrina Walsh, who handled the sale, declined to comment on the deal until it settled on August 7.
The property, which was designed by Adam Beck and built by Roth Developments, is on a 7402sq m lakefront block.
An eight-seat cinema, mosaic-tiled heated pool, a gym, sauna, and grand covered outdoor entertainment area are among the house’s highlights.
Inside offers raw stone features, timber accents, natural hues and soaring ceilings while expanses of glass capture the tranquil bush landscape that surrounds the home.
Vendor Deanne Said, who lived at the five-bedroom, sixbathroom house with her husband and three children, said it offered tranquillity and convenience.
“There are so many things I love about the home,” she told the Bulletin when the property hit the market.
“One would be the floorplan, it’s very good for entertaining and large families.
“Plus the location – it’s so convenient with some of the best schools next door, across the road from a great shopping centre and close to the M1. And there’s tranquillity that comes along with those great benefits.”
Its position in Jabiru Estate was another highlight, according to Ms Said.
“The security is the next great thing here, it’s very secure in the gated community and surrounded by multimillion-dollar mansions,” she said.
“It’s in great company.”