42 Drayton Terrace
Mermaid Waters 4218

Original Wide Water Holding with Upside Potential

Tucked away in a highly desired pocket of Mermaid Waters, this supersized waterfront property presents a versatile upside opportunity for owner-occupiers and savvy investors alike. Cherished by the same family for nearly four decades, this much-loved home is now offered to the market for the very first time since 1988 as part of a deceased estate - a genuinely rare opportunity to secure a blue-chip waterfront holding that seldom, if ever, becomes available.

Spanning 37.5m* along the bank of a protected water inlet, the sprawling 1,005m2* parcel is a true blue-chip offering. Crowning it is an original single-level residence featuring four bedrooms, two separate living zones and a vast covered patio, ideal for alfresco entertaining with a breathtaking water view.

Outside you'll discover a lagoon-style pool wrapped in lush hedges that lend privacy, and a tiered rear yard with flat lawns where children and pets can run free. Rounding out the amenities are a double garage and a pontoon for easy access to the calm waterway.

Featuring characterful brick walls, soaring vaulted ceilings and a considerate floor plan, the charming home offers the dream canvas for a modern renovation. The elite holding also presents exceptional value for investors, with the potential for landbanking or sub-division, subject to council approval.

The Highlights:

- Dream renovation or investment opportunity in highly desired waterfront pocket

- Rare first-to-market offering — held by the same family since 1988 and offered for the first time in 38 years

- Supersized 1,005m2* block with a rare 38m* of water frontage to a protected inlet

- Charming, single-level brick residence is an excellent canvas for a modern renovation

- Opportunity to land-bank; zoned for RD1 with potential to sub-divide, subject to council approval

- Pontoon; lagoon-style pool surrounded by mature hedges for privacy

- Lush rear garden with tiered flat lawns for children and pets; vast sandy beach

- Vast, covered waterfront patio ideal for alfresco dining and entertaining

- Charming original interior featuring exposed brick walls and soaring vaulted ceilings

- Spacious open kitchen and family zone featuring soaring ceiling with timber panels, plus patio access; separate living room

- Four generous bedrooms, including waterfront master suite with walk-in robe and ensuite

- One additional bathroom with built-in bath and shower; separate powder room

- Laundry with storage and access to external drying court

- Double garage with cabinetry

Council Rates: $4,598.62 per year approximately

Water Rates: $1,182.48 approximately (excluding usage)

Mermaid Waters has quickly become one of the Gold Coast's most sought-after suburbs, favoured for its family-friendly atmosphere and proximity to key conveniences. Located in a desirable waterfront pocket, this address is less than 1km from Q Super Centre, and just 2.5km from the world-class retail precinct of Pacific Fair Shopping Centre. It also enjoys proximity to the patrolled surf, popular eateries and boutique stores of Nobby Beach, including The Oxley precinct, which are only 3.5km away.

Only slightly further afield at 3.7km away is the bustling heart of Broadbeach, which offers plenty of attractions from day to night. Families will relish being in the catchment for Miami State School and Miami State High School, and within an easy drive of leading private schools. Finally, proximity to major connecting roads like Bermuda Street and Gold Coast Highway ensures an easy commute north or south.

Brimming with untapped potential, this blue-chip waterfront property presents a rare opportunity for savvy investors or those looking to create their dream home. Contact Gypsea Youngsmith on 0424 544 485 to arrange a private inspection.

Disclaimer: This property is being sold by auction or without a price and therefore a price guide can not be provided. The website may have filtered the property into a price bracket for website functionality purposes.

Disclaimer: Whilst every effort has been made to ensure the accuracy of these particulars, no warranty is given by the vendor or the agent as to their accuracy. Interested parties should not rely on these particulars as representations of fact but must instead satisfy themselves by inspection or otherwise.