$17m busts Cove ceiling
AN opulent five-bedroom, 11bathroom waterfront home with parking for 20 cars is the highest-priced property to ever sell at Sanctuary Cove.
It went for $17.7m, $12m more than the previous best.
The sale also smashed the record for the wider suburb of Hope Island, $16.5m paid in 2017 for 2620-2622 Virginia Drive.
Matt Gates of Ray White Sanctuary Cove negotiated the deal for the seller, which RP Data shows as Johnson Property Holdings, which acquired the property in 2019 for $3.9m.
The buyer is Gold Coast business tycoon Tony Quinn, who was introduced to the sale by Ray White Surfers Paradise agent Michael Willems.
Mr Gates said the house at Marine Drive East was on a 1789sq m block with views across the Coomera River.
“The sellers knew from the beginning that whatever they developed on this stunning allotment had to be something really special, and they really have delivered,” Mr Gates said.
“There really has been no expense spared, no detail overlooked in creating this home. Every design decision
has been considered, every material has been carefully chosen, every fitting and fixture hand selected.”
Among its features are a 20-car pillarless basement, commercial lift, chef’s kitchen with concealed butler’s pantry, five ensuite bedrooms, a master bedroom with his and her ensuites, six additional bathrooms, dinein wine cellar, and a home office.
The outdoor area has a waterfront pool, screened
terrace, outdoor kitchen and sunken fire-pit by the water.
Mr Gates said the property’s location played a large part in the sale.
“Our buyers were looking specifically to relocate to Sanctuary Cove,” he said.
“That golf buggy lifestyle is incredibly appealing to high-end buyers. The security it offers, the stunning location, excellent shopping and dining… it’s a huge draw.”
The Sanctuary Cove property market has gone from
strength to strength this year after a number of big sales.
Ray White Surfers Paradise Group CEO Andrew Bell said the prestige market had opened up all over the Gold Coast in areas that were not traditionally considered prestige, but Sanctuary Cove had established itself as the most premier suburb on the northern Gold Coast.
The sale comes ahead of Ray White’s The Event, the nation’s largest in-house auction, to be held in January.