Big cash splashed down by the river

Two prime properties sell for in excess of $4 million each

BIG sales continue to dominate the Gold Coast market this month with two imposing riverfront properties cracking $4m each. Kollosche agents Jay Helprin and Nicky and Jason Cunningham brokered the $5.15m sale of 285-287 Monaco St, Broadbeach Waters.

The property sold after-market in a deal that took just 48 hours.

“It sold to a local businessman,” Mr Helprin said. “The appeal was it has northeast access from Kiah Ave, and you have no adjoining neighbours in that whole northern street frontage.”

The buyer plans to demolish the existing house to build another.

Mr Helprin said supply levels on Monaco St had dwindled over the past 12 months.

“In 2022, there were just five sales totalling $36m as opposed to 2021 where there were 12 sales totalling $85m,” he said.

“Opportunities on Monaco St are becoming far more scarce.”

At Ray White Surfers Paradise Group’s mega auction bonanza The Event, the top auction sale was $4.4m for a Paradise Waters trophy home at 24 Norseman Court.

The five-bedroom trophy home was sold by Erica and Chris Owen and marketed by agent Anthony Cheeseman.

Ray White Surfers Paradise Group chairman Andrew Bell said the official clearance rate of The Event was 59 per cent.

“There was a huge number of buyers, both local and interstate, in person and on the phone,” he said.

“In addition, there were a lot of onlookers – people interested to see what the market is doing.

“It was a big atmosphere. Buyers and sellers were excited, and we had, on average, four bidders for each property.

“This year, the larger portion of interstate buyers were out of Sydney, as opposed to previous years where most were out of Melbourne.”

24 Norseman Court, Paradise Waters, sold for $4.4m at auction.