High water mark
A princely sum for a penthouse on Main Beach is just the latest sign of confidence in the market
A MAIN Beach penthouse has changed hands for more than $5 million.
The Xanadu North three-level luxury residence hit the market in December. While Robert Graham of Ray White Prestige wouldn’t reveal the exact sale price of 150/59 Pacific St, he said it sold in line with the price guide on the expressions of interest campaign.
“The property was on the market for 32 days before it sold,” he said. “Both the buyers and sellers are ecstatic over the purchase.”
Mr Graham said he had 67 groups through the property over the campaign. “It was one of the best received properties on the market for some time,” he said. “It was because of its size of 836sq m with the views that were on offer — you’re unable to purchase anything like it at any other building. It’s value for money.”
CoreLogic data reveals the property last changed hands in 2014 for $4.06 million.
A heated pool, theatre, bar and wine cellar are among its standout features.
It comes as Ray White Surfers Paradise Group recorded $35.4 million worth of sales at mega-auction The Event last weekend.
A crowd of about 1000 people, including more than 170 registered bidders, crammed into the RACV Royal Pines Resort in Benowa to be part of the agency’s annual auction
An apartment in one of the Gold Coast’s most recognisable high-rises was one of the most contested properties on the day.
The two-bedroom, two-bathroom residence in the Q1 tower was called on the market at $740,000 before a flurry of bids were made in one or two thousand dollar increments. After about 20 minutes of intense bidding between three interested parties, the property sold for $790,000.
The highest price paid under the hammer was $1.4 million for 145ha at Kingsholme while the lowest was a Southport unit snapped up for $132,000.
Ray White Surfers Paradise Group CEO Andrew Bell said the success of the auction showed confidence in the Gold Coast economy remained strong.
The Xanadu North penthouse at 150/59 Pacific St, Main Beach sold for more than $5 million.