Christmas comes early for sellers of mansion

A WATERFRONT megamansion that was once home to Gold Coast property kingpin Max Christmas has sold under the hammer – four years after it initially hit the market.

Local buyers snapped up the Paradise Waters property on Commodore Drive for $5.3 million at Ray White Surfers Paradise Group’s mid-year auction event on Thursday.

The sale, which follows several failed attempts over the years, has resulted in a hefty profit for sellers Peter and Lisa Le Fanue, who paid $2.15 million for it 21 years ago. It was built for property veteran and former councillor Max Christmas in the 1980s by Soheil Abedian, who co-founded development company Sunland Group.

Property records show it has been listed on the market several times in the past four years, at one point with a $9.85 million price tag.

Ray White Prestige Gold Coast agent Jackson Paradise relisted the residence a month ago in a renewed push to sell it.

“We just changed the (marketing) strategy and it worked,” he said.

“There were three registered bidders there and it was sold to a local buyer. They’re going to move in.”

The prominent property has five bedrooms and seven bathrooms with a pool, spa and cabana outside.

There is also a separate guesthouse, boat house and jetty.

Mr Paradise said the prestige market had been revitalised in recent weeks.

“The prestige market is going from strength to strength,” he said.

“In the prestige areas, I think there’s been more and more buyers after the election and more confidence out there.”

The Commodore Drive property has finally been sold by its owners for a hefty profit – four years after it hit the market.

The waterfront mansion was once owned by property mogul Max Christmas (right).