Sales still ticking along on Coast

High-end apartment in Mermaid Beach sells for $9.2m before auction

Byron Bay richlisters Tom and Emma Lane have offloaded their luxury Gold Coast apartment for $9.2m, making an impressive $2m on resale of the newly completed sky home they purchased less than one year ago.

The entrepreneurial couple and founders of the popular northern NSW restaurant, The Farm, had listed the glamorous Mermaid Beach apartment for a January auction, but it was snapped up in a deal closed two days before Christmas.

The Lanes paid $7.2m last February to secure their 513sq m sky home in Sunland Group’s 44-storey beachfront tower, named 272 Hedges Avenue, but have since resolved to move their family to NSW’s Southern Highlands.

The luxury apartment is in the Sunland Group’s 242 Hedges Avenue tower, and occupies the 27th and 28th floors

The eye-watering resale price equates to $17,933 per square metre — trumping the record set in the tower in November, when a 318sq m unit changed hands for $5.5m, or $17,460 per square metre.

Commanding a front-row seat to the Gold Coast’s most prestigious oceanfront stretch of Hedges Ave – also known as Multi-millionaire’s Row – the two-storey apartment has four ensuited bedrooms, three living areas, a media room, and statement spiral staircase.

The apartment was marketed by Kollosche principal Michael Kollosche, with agent Harry Kakavas.

Further south, a luxury apartment on the beachfront at Tugun, sold for $3.7m through Madonna Delaney Real Estate.

The property, at 2/351 Golden Four Dr sold to a Brisbane family who plans to use the residence as a holiday home.

“The vendor had owned it since 2006, when it was built,” Ms Delaney said.

“I had three offers that were all from potential Brisbane buyers.”

Ms Delaney said the apartment was a whole-floor residence with 14m of ocean frontage.

“I really think at the moment buyers will pay a premium if the property is move-in ready and they don’t have to do any work,” she said.

The property is on the first floor of a fivestorey tower and is configured as a threebedroom plus study residence.

Tom and Emma Lane have offloaded their luxury Gold Coast apartment for $9.2m.