Luxury Gold Coast mansion fetches $6.25 million after $5 million renovation
July 2 2020
July 2 2020
IT will be a New Year with a new home for one lucky family who has secured the keys to a glamorous Paradise Waters mansion.The international buyers splashed an eye-watering $6.25 million on the four-bedroom, five-bathroom waterfront residence.
Kollosche director Michael Kollosche said the family planned to use it as a their main residence and will move in close to the Chinese New Year.
“It was a Chinese migrant that’s moved over here,” he said.
“(What attracted them) was definitely the quality of the home, it’s one of the best on the market in that price range.
“It’s very hard to compare and a real credit to the owners who did a meticulous refurbishment of the entire residence.”
The previous owners purchased the property for $3.75 million in 2010, according to CoreLogic data.
They spent $5 million renovating the house with architect Ian Halliday, of Sydney-based firm Burley Katon Halliday.
The makeover saw it named the Gold Coast winner of the Queensland Master Builders Association 2012 award for a renovation/remodelling project worth more than $1 million.
The brief was to create a tropical paradise with Zen, drawing inspiration from Southeast Asia.
The property first hit the market in September 2017 with a $7.95 million price guide and was removed in February this year.
It was relisted in a renewed marketing push in July.
Mr Kollosche said the prestige market was “travelling great” but demand was outweighing supply.
“That’s quite a strong sale for a non-main river property, which shows the market is getting stronger and stronger,” he said.
“There’s a real lack of quality stock available as low-interest rates are prompting people to hold onto their properties.”