Weekend Gold Coast Bulletin - Property
Big cash splash
A Sovereign Islands megamansion has sold in a multimilliondollar deal just before auction
A PALATIAL property on the Sovereign Islands has changed hands for an eyewatering $5.5 million just days before it was set to head under the hammer.
The opulent six-bedroom, seven bathroom mega-mansion featured a string of luxury inclusions such as an underground entertainment den, vertical garden and pool.
Amir Mian Prestige Property Agents’ Ivy Wu, who sold the house alongside Isaac Kim, said they had three offers in the lead up to the auction.
A local family secured the keys a week prior to the scheduled auction date.
“We had interest from interstate buyers and also international buyers,” Ms Wu said.
“The design of the basement really attracted the buyer and they loved everything about it.”
Among the mansion’s standout features was an underground “grotto”, which had a wellness centre incorporating a massage room, bathroom and Sawo Scandia sauna.
The self-watering “garden wall” at the front of the house was also an unusual feature. The property first hit the market in August 2018 with a $6.98 million price tag, according to CoreLogic data.
Property records show at least seven agents tried their hand a notching a deal for the house, with the property’s price slashed to $6.2 million before Amir Mian Prestige Property Agents took over the listing at the end of June.
“It started with different agencies but we had the right strategy,” Ms Wu said. “We have started seeing a lot of confidence from the buyers in the market at the moment, especially on Sovereign Islands.”
The property last sold in 2016 as a vacant block for $1.38 million before the new house was constructed, with a build value of more than $300,000.