Weekend Gold Coast Bulletin - Property
Main river goals
A string of sales on the Nerang River reflect confidence in the city’s luxury market
THE sale of a historic Surfers Paradise mansion is among a string of high end transactions on main river during the COVID-19 period.
An unnamed local buyer paid $5.5 million for the riverfront residence at 113 Commodore Drive in an off-market sale handled by Michael Kollosche and Jay Helprin in June.
The landmark house was built in the late 1980s for Keith Williams, the legendary entrepreneur who built Sea World and developed resorts at Hamilton Island.
The home was later owned by Dreamworld founder John Longhurst and was most recently sold by Flora and Sep Abedian following a seven-year tenure.
Features inside the iconic estate include a three-level staircase inspired by the Vatican, arched windows, wrought iron chandeliers and Roman bath-style pool.
The 1489 sqm property also enjoys one of the largest water frontages in Paradise
Waters, looking across to the grounds of The Southport School and north to the Southport skyline.
Mr Helprin said the sale reflected confidence at the top end of town with buyers turning to the security of real estate.
“We’re seeing significant strength in the prestige market,” Mr Helprin said.
“Bricks and mortar are considered to be less volatile at this time.”
Kollosche agents report a string of main river sales in recent months, led by the $12.45m deal on 15 Southern Cross Drive, Surfers Paradise in June.
A grand Broadbeach Waters mansion at 327 Monaco Street sold for $5.7m on July 11.
A contract for $2.855m was signed on 25 Ipsley Drive, Broadbeach Waters in June while a vacant 1013 sqm lot at 85 Commodore Drive fetched $3.1m in May.