Paying for the Luxury

July 8 2020

The sale of luxury Gold Coast mansion for $9 million, smashing the suburb record, is leading the city’s continued real estate boom.
Paying for the Luxury

The riverfront property in the Bundall locale of Sorrento surpasses the $8 million in 2009 for a mansion in the same street.

Property records show the palatial house at 8-10 Marseille St was bought by investor Robyn Smith in 2007 for $6.2 million.

It was listed at almost $14 million last year before being dropped to $9.95 million.

“I initially thought it was too big for us, I was going to knock it down and build something smaller,” she told the Bulletin when the property hit the market.

After living in the house, she realised, “it would have been a sin to knock it down”. “It’s a beautifully built, solid home. I couldn’t recreate it and still have that feel.”

Instead, the house was extensively renovated, to open up the property along its 70m length of water frontage.

The result is luxury resort-style, with huge bedrooms, a decadent master suite, high ceilings and expansive entertaining areas on a sprawling 2703sq m riverfront block.

Features include a full-scale surfer mural adorning a bedroom wall, and there’s a tennis court, lap pool, diving board and pontoon

Michael Kollosche of Kollosche Prestige Agents negotiated the sale.

“This sale continues a great start to 2018 for the luxury end of the Gold Coast market, which continues to have momentum,” he said. “There are buyers aplenty for big-ticket homes but the top shelf is starting to look rather lightly stocked.”

The Gold Coast’s record stands at $27 million, which was set by a Mermaid Beach mansion in 2008. The highest sale this year is a Mermaid Beach house that changed hands for $11.6 million in April.

This article originally appeared as “Paying for the Luxury” in the Gold Coast Bulletin

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