Gold Coast beachfront mansion sold for all-timer $27.5 million price tag

Queensland has recorded one of its biggest-ever residential sales, with a Gold Coast mansion selling off-market for an astounding $27.5 million.

Seated in Mermaid Beach’s ‘Millionaires’ Row’, the beachfront home at 127 Hedges Ave was last bought in 2021 for more than $15 million. Only four years later, the property has now sold for almost double the price.

127 Hedges Ave, Mermaid Beach, just sold for one of Queensland’s biggest ever residential sales at $27.5 million.

While selling agent Amir Mian declined to comment on the buyers, it is understood a local family had splashed the staggering amount to acquire the prized parcel.

“A standard-sized block on Hedges Ave will have 10 metres of beachfront,” Mr Mian said. “This is 15m, which gives you an incredible sense of space and the wider width of the beach, as well as close proximity to the amenities of Broadbeach.”

The sale is one of the most expensive ever recorded across both the Gold Coast and the rest of Queensland.

The home was owned by Maria Moy at the time of the sale, and was bought by a local who had been scouting the area. It was previously built for Dreamworld co-founder John Longhurst in 2017.

The house was owned by Maria Moy before the sale, who previously bought the property from owners Michael and Benita Brosnan.

The timber and concrete house was architecturally designed and built in 2017, owned at the time by Dreamworld co-founder John Longhurst.

Featuring two levels, the mansion sports five bedrooms, a resort-style pool, and a beachfront terrace taking residents straight to the sandy shores.

The property had been unchanged since its last purchase in 2021, meaning it almost doubled in value since that sale.

Mr Mian said the 607 sqm property, which had seen touch-ups in 2017, had been unchanged since the 2021 purchase.

“[Years ago], you could buy on Hedges for $6m, knockdown” he said. “Now, Mermaid Beach is pretty much the most expensive suburb in Queensland.”

“On the one side you’ve got the beach, and on the other side … you’re minutes to literally everything. It’s very rare.”

Mermaid Beach’s median house price currently sits at $3.4 million, making it the fourth most expensive suburb in the state.

The site the building was built on, which now features five bedrooms and a terrace taking residents directly to the beach.

Hedges Ave, known as ‘Millionaires’ Row’, is known for massive luxury properties with gigantic price tags, such as Clive Palmer’s $28 million corner property.

But Hedges Ave is known for extravagant sales, with billionaire Clive Palmer reported to have bought a $28m corner property on the same road.

Mr Mian said by the time some of Hedges Ave’s most prestigious properties go on the market, he expected some of them to fetch tens of millions more.

“Those sales will pop up, if one of those vendors is to sell,” he said. “If that happens then I think that’s the only area on the Gold Coast which will be attracting those [massive] prices.”

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