Auction drama marks jaw-dropping $14 million sale

24 Winch Ct, Mermaid Waters

A canalfront home named best build in Australia has sold under the hammer for $14.005m – smashing the previous suburb record by close to double.

The 2023-built property at 24 Winch Court, Mermaid Waters sold under the hammer at a tense auction where eight prospective buyers engaged in a bidding war.

Auctioneer Justin Nickerson fielded a whopping 48 bids, taking the price from an opening play of $6.5m to sold over a 45-minute marathon.

Gold Coast buyers agent Matt Srama made the winning bid on behalf of a “property entrepreneur” who had been renting on the Gold Coast since relocating from NSW.

Eight bidders vied for the keys

Mr Srama said the buyer was drawn to the luxury home’s quality and waterfront position offering breathtaking views and access to an enviable boating lifestyle.

Bids started in $1m increments, then in $500,000 hikes to $11m. The auction was paused at $12.25m for negotiations behind closed doors before the highest bidder increased their offer to $13m.

Mr Nickerson advised the crowd of 100-plus the reserve price had been reached, sparking a renewed flurry of bids with Mr Srama landing a final blow of just $5,000 to claim the keys for his client.

The stunning sale set a new benchmark for the rising suburb by a margin of 80 per cent, adding a whopping $6.3m to the previous record of $7.7m set in February 2024.

The house was designed by celebrity architect Joe Snell

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Kollosche agents Jamie Harrison and Michael Kollosche marketed the property, which had won a slew of awards including National Residential Master Builder of the Year.

Owner-builders Rob and Tui McKinnon, directors of Havendeen, paid $2.125m in 2018 to acquire the 1,113 sqm parcel with 46 metres of frontage to Lake Wonderland and uninterrupted skyline views stretching to the Hinterland.

The four-level home, designed by Joe Snell, featured a five-car basement garage, golf simulator, steam room, wine cellar and rooftop bar.

Who needs a resort with a pool like this?

Unfolding behind a curved facade, the floorplan was anchored by a dark stone kitchen bench beneath a 12m void, while matte black finishes combined with raw textures of concrete, steel and glass to create a sophisticated ambience.

The al fresco offering came complete with heated 12m pool, swim-up cocktail bar, day beds and a fire pit zone, along with a private pontoon and jet ski dock.

Mr Srama said the Gold Coast lacked sufficient high-quality new builds to satisfy the appetites of cashed-up buyers looking to splurge on statement homes.

“My advice to builders is that if the product is good enough, the buyer pool is certainly there,” he said.

“These buyers have moved from interstate and had a taste of the Gold Coast and they can’t fault the lifestyle. They have money to spend but the product isn’t there.

“Homes like this rarely come up on the Gold Coast, and we came in with a very specific strategy on where we felt the value lay.”

The buyer was a property insider in search of a Gold Coast statement home

Mr Harrison said the heart-stopping auction affirmed the depth of the local prestige market.

“To have eight registered bidders in this current environment is testament to this,” he said.

“We knew the buyers wanted it and saw value in such a highly built home in an irreplaceable position.

“The bidding pool was mostly local buyers who understood the value of Mermaid Waters, and knew there were very few point position properties like this, so for them this was more about the rare opportunity to acquire it, rather than the price they would pay.”

House prices in Mermaid Waters were up 11.1 per cent over the past 12 months, to a median of $1,947,500.

…But does the buyer own a black car, too?

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