Main Beach gem is sold

A LAVISH Main Beach bungalow inspired by the famous Beverly Hills Hotel has sold in a multimillion-dollar deal a week prior to auction.

Agent Jackson Paradise, of Ray White Prestige, confirmed that 46-48 Peak Ave went under contract late on Wednesday for “well over what the owners paid for it”.

“The property sold for well over $4.5 million,” he said.

Mr Paradise said the buyer was a local family attracted to the Main Beach lifestyle and the unusual property.

“They love the location and, in terms of the house, the outdoor area with the tropical resort-style lagoon is what they really loved about it,” he said.

Vendor Michael Willems, a real estate agent with Ray White Surfers Paradise Group, bought the house with his wife, Dyana, for $4.5 million in October 2017 and revamped it.

The bungalow’s bold pink facade and quirky Beverly Hills Hotel accents attracted massive interest from among local and interstate buyers, as well as on social media.

“In the three weeks since the property hit the market, the property has had 386,841 internet views and 168,411 social media engagements,” Mr Paradise said.

“We conducted 84 inspections and took four offers prior to the scheduled auction.”

The five-bedroom, fourbathroom house on a 1062sq m block was due to be auctioned on-site on March 14.

Mr Paradise said the prestige property market was “on fire” on the Gold Coast, driven by strong interest from Sydney and Melbourne buyers.