Sky home yields sky high profit

The sellers of this coveted penthouse have pocketed a huge windfall in less than three years

FORMER cattle farmers who swapped country life for a penthouse on the beach have sold their Gold Coast digs for $7.3 million. Vendor Dean Willaton and wife Theresa paid $5.05 million for their Broadbeach penthouse in April 2020, property records show.

The couple had planned to take the luxury property to auction this month, but received an offer too good to refuse — netting them a $2.25 million profit in less than three years.

“We decided to downsize our business out there (Mitchell) and Therese and I came to the Coast to semi-retire,” Mr Willaton said. “Our daughter was also doing Year 11 and 12 here so it just made sense.”

Tolemy Stevens of Harcourts Coastal said the property had attracted plenty of interest since it hit the market last month.

“I felt like I needed a second phone to yield all of the inquiries that were coming through,” Mr Stevens said. “We had 85 email inquiries, 33 private inspections and multiple offers submitted prior to auction.

“On Saturday a buyer conducted a private viewing and absolutely fell in love with what was on offer and by Tuesday night they bought it.”

Mr Stevens said the property was one of the best two-level beachfront penthouses he had ever marketed.

“The location being in within an ultra exclusive new building of only seven residences was something the market really resonated with,” he said. “It had one of the best floor plans I have seen and the views of course are absolutely stunning.

“The fact you’re in a penthouse and on the seventh and eight floors but also felt connect to the sand and surf was certainly an appeal we found that the market really liked.”

He said the buyers, an interstate couple, would use the property as their holiday home.

The floorplan offers 452sq m of living space with four bedrooms, four bathrooms, library, butler’s pantry, wine cellar and private lift. Entertaining is a breeze with a massive balcony that will comfortably seat a romantic dinner for two or accommodate a cocktail party of 50.

Mr Stevens said the outlook for the Gold Coast prestige market was positive..”

7/19 Broadbeach Blvd, Broadbeach.