Interest high for dream property

A GRAND Hope Island estate goes under the hammer on Saturday in what is shaping up to be one of the biggest auctions on the Gold Coast this year.

Hundreds of spectators are expected to turn out to watch the bidding play out on 1525 Riverdale Dve where a waterfront mansion occupies a point position on 11 titles.

“It will be one of the biggest auctions on the Gold Coast this year, if not Queensland,” said marketing agent Mark Carew of Professionals Vertullo Real Estate.

“It’s scheduled for the 8th of the 8th which symbolises good luck for the Chinese owners, ” he said.

It is the first time the 4982ha holding has been open to the public in 18 years, with previous deals having been done off market.

“You can’t even see the house from the street as it’s hidden at the end of a driveway,” Mr Carew said.

“It took some convincing for the owners to agree to a public auction, but the campaign is already generating a lot of interest.”

The current owners bought the Mediterranean-style mansion, known as Harbour Point, during the GFC in 2009 for $9 million – $390,000 less than billionaire property developer Lang Walker paid in 2004.

The house was built by national car-warranty business owners Gary and Suzanne Chuck, who bought the prime plot in 2001 for $2.1 million.

The global campaign has attracted local, interstate and overseas inquiries ahead of the onsite auction at 1.30pm on Saturday which could see a new benchmark set in the exclusive resort.

“This will be an auction record for Hope Island if sold under the hammer,” Mr Carew said.

“I really won’t know exactly who will be bidding until the day of the auction as last-minute registration is not uncommon.”

The record for Hope Island is $16.5 million, paid in 2017 for a waterfront mansion built on three blocks in Virginia Dve.