Mega Auction Result Sets a New Queensland Record

July 15 2023

Kollosche Sells 59 The Corso Isle of Capri for Record-Breaking Price
Mega Auction Result Sets a New Queensland Record

A prominent Gold Coast estate has set the price pace for 2023, smashing the state’s residential auction record by selling for $24 million under the hammer.

The resort-style mansion at 59 The Corso on Isle of Capri was put to auction on Friday evening by prestige agency Kollosche, who registered 10 bidders for a tilt at the 2,197m2 holding.

More than 200 people gathered at twilight to witness cashed-up bidders go toe-to-toe for the palatial residence, situated on a prime Main River position spanning four blocks.

Bidding began at $15 million, with the property declared on the market at $21.5 million. A total of 42 active bids ultimately drove the price to $24 million – the highest residential sale in Queensland this year and a new residential auction record for the state.

Kollosche agent Sam Guo, who sold the property in collaboration with colleagues Julia Kuo, Claire Dai and Michael Kollosche, said bidding was highly competitive.

“The property was declared on the market at $21.5 million, and the bids were flying back and forth from there,” said Mr Guo.

“Astute buyers understand that you can wait a lifetime for a property like this to come on the market, so they don’t want to miss the opportunity.”

An extensive marketing campaign solicited 283 enquiries and 147 inspections. Both the buyer and the underbidder participated via mobile phone.

Kollosche Selling Principal Michael Kollosche, who represented the winning bidder, said the result was an exceptional show of confidence in Gold Coast real estate. “This result reaffirms the depth in the prestige market that we are seeing,” said Mr Kollosche. “The mid to top end of the market is the strongest we have seen, and stock levels are considerably depleted.

“Blue chip properties are in high demand and we are seeing strong interest from local and interstate buyers looking to relocate or secure a second home, and from expats who are wanting to return to Australia permanently.


“To have 10 bidders compete for a property of this caliber highlights the appetite and capacity to purchase luxury homes on the Gold Coast.

“Prestige buyers are continuing to see the incredible value not only in Gold Coast real estate but the lifestyle these homes offer. You can walk out your back door and jump on a jet ski, surf the best beaches, and enjoy everything you would expect from a modern city.

“The ultimate buyer paid more than they initially intended, but like most of the bidders, they recognised that properties of this caliber – with a northerly aspect, over a large land holding, with skyline views to Surfers Paradise – are very tightly held and increasingly harder to come by.

“The home was built more than 20 years ago, and the new owners intend on doing a complete refurbishment in due course to bring the home to a standard that is deserving of its location and outlook.”

The Corso parcel boasts 52.7 metres of water frontage in an unparalleled position on Adam’s Basin, with iconic highrises Q1, Soul and Jewel Residences forming a striking backdrop beyond the Girung Island nature reserve.

An entertainer’s paradise unfolds across a staggering 2,000m2 floor plan with two wings wrapped around a central atrium flanked by a wet-edge pool.

The three-level mansion offers breathtaking views, six bedrooms, six bathrooms, a cinema room, a billiards room, a gymnasium, a six-car garage, and a wine cellar with capacity for 7,000 bottles.

The landmark sale is the latest in a string of notable deals made by Kollosche, whose agents have notched up just under $100 million in sales during the first two weeks of the financial year.

Related KTV

59 The Corso, Isle of Capri | Gold Coast Luxury Property | Kollosche

59 The Corso, Isle of Capri | Gold Coast Luxury Property | Kollosche

Subscribe to Kollosche news