Mum’s $9.7m gift for her son

Former high-flyer’s luxurious home draws strong interest

Aluxurious Gold Coast estate owned by the founder of failed fund manager Blue Sky Alternative Investments recently sold under the hammer for $9.7m. The Burleigh Heads showstopper was built by Blue Sky founder and former managing director Mark Sowerby and wife Heidi in 2017 – the year after his retirement from a decade at the helm of the former sharemarket darling.

A crowd of about 100 people gathered at the sprawling home in a private estuary location at 10-12 Elanora Drive last week, as auctioneer Justin Nickerson fielded 30 bids from four prospective buyers.

The winning bid was from a

Tallebudgera woman who said she bought the dream home for her son and his fiancee.

Marketing agent Troy Dowker, of Kollosche, said the two-level house on a 1285sq m block had drawn strongest interest from local buyers, along with some from Sydney and Melbourne.

One suburb over in Burleigh Waters and a modern take on a retro build has paid off for the owners of 19 Seriema St which sold for $3.1m within days of hitting the market.

Marketing agent Joel Madam, of Harcourts Coastal, said the buyers, a Gold Coast family, loved the house’s retro vibe.

“The local buyers wanted something a bit different,” Mr Madam said.

“They hadn’t seen anything of this quality and had builder friends come and check it out who were very complimentary of the finished product.”

He said the buyers had planned to build but with construction costs so high, opted for a completed house.

“Build costs are just getting unattainable and a lot of builders have such a long lead time,” he said.

“And then if you are building you have to rent and it’s almost becoming unaffordable.”

“Buyers are seeing a finished product as having has more value.”

The vendor, builder Taylor Davies, said it was all about curating the curves in the fivebedroom, three-bathroom home.

“We wanted something different, and we achieved that by getting rid of all the square edges,” he said.

The property at 10-12 Elanora Drive, Burleigh Heads.