V8 driver in poll position for sales
V8 Supercars legend Paul Weel has sold his Gold Coast beach home for a supercharged $16.95m in what is the highest residential sale in Queensland this year.
The “landmark” estate, on Albatross Ave, Mermaid Beach sold in an off-market deal through Kollosche Broadbeach’s Michael Kollosche, Tony Velissariou and Harry Kakavas.
Records reveal Paul and Emma Weel paid $15.85m for the property in January, 2022.
The couple put the estate back on the market in August, 2023 with another agency before managing to find a buyer to cross the line and claim the trophy mansion.
The four-bedroom house is on a rare 810sq m double block with 12.4m of beach frontage.
Spread across two levels, the residence includes an openplan living and dining area with floor to ceiling windows and sliding doors opening on to the terrace.
A beachfront entertaining terrace and deck sit alongside the plunge pool and patio.
“Emerging from an absolute beachfront position, this landmark estate embraces an exclusive dress-circle location and enticing potential,” the listing states.
“It’s a solidly built residence that can be comfortably enjoyed as is, with scope to transform it to suit your bespoke taste.”
Weel is no stranger to Gold Coast property – the family sold another beachfront home at 504 The Esplanade, Palm Beach for $10.2m in January, 2023.
They also sold their family home at Carrara for $10.9m in May, 2021.
The latest sale fuels more confidence in the Gold Coast prestige market with a flurry of mega sales already this year.
In Broadbeach Waters, a palatial riverfront mansion at 171 Monaco St sold for $10.5m while another beachfront home at 620 Pacific Pde, Tugun sold for $10.05m under the hammer.