Weekend Gold Coast Bulletin - Property
One for record books
A magnificent renovated mansion at Mermaid Waters has sold for a suitably impressive $3.25 million
A GRAND Hamptons-inspired Mermaid Waters mansion has sold for $3.25 million, smashing the suburb record.
The luxury waterfront property at 29-31 Cessnock Close was originally built by Gold Coast identity Jenny Wong.
The vendors undertook a major renovation, transforming the house into a modern masterpiece.
The two-storey residence is set out over a double 1633sq m block and has five bedrooms, seven bathrooms, multiple living areas, pool, tennis court and cinema.
Sam Guo and Julia Kuo of Ray White Broadbeach-Mermaid Waters handled the sale.
“A local Chinese buyer bought it,” Mr Guo said. “It was all about the size and history of the property as well as the spectacular renovation.
“It was a dated house but the vendors have transformed it into a beautiful home.”
He said there weren’t many houses comparable in size and structure in Mermaid Waters. “That’s why it got such a great price.”
The record residential sale for Mermaid Waters had previously been held by a fivebedroom four-bathroom home that sold for $2.9 million earlier this year.
The house is on a huge 1900sq m at 51-53 Portobello Rd.
Before that, the record was held by another five-bedroom waterfront home at 13 Intrepid Drive, which sold for $2.65 million in May 2015.
REIQ Gold Coast zone chair John Newlands said Mermaid Waters was feeling the effects of a surging Mermaid Beach.
“Not everyone can afford to live on the beachfront but will pay a high price to live nearby,” he said.
“It also comes down to the lifestyle aspect. There’s lots of nice cafes and restaurants popping up … people used to have to travel to go to them but now they are on their doorstep.”