Landmark Noosa mansion sells for nearly $30m to builder boss

Noosa is fast becoming a primary place to live for cashed-up Queenslanders as another record home sale confirms it’s no longer just a holiday home magnet.

A landmark waterfront mansion on more than 1000 sqm in Noosa Heads has just settled for close to $30 million — the biggest residential transaction in the state this year.

Reed & Co principal Adrian Reed negotiated the sale of 29 Cooran Court to a Brisbane buyer, and said it was reflective of a broader trend he was seeing in the market.

“There’s a common misconception that A-grade properties will automatically be snapped up by southern or international buyers,” Mr Reed said.

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“What we’re actually seeing is a voracious appetite from Queensland’s high-net-worth market. For truly affluent buyers, property decisions are driven more by opportunity recognition and lifestyle objectives than by financing considerations.

“When these buyers identify properties that meet their criteria, they’re prepared to transact regardless of broader market conditions — and that’s exactly what we’re seeing across all of our prestige campaigns.”

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Mr Reed also sold a waterfront home at 17 Mossman Court, Noosa Heads, for $14.45m in June to a cash buyer from Brisbane.

He refused to comment on the identity of the buyer of Cooran Court, but public records show the property was purchased by Nigel Gardiner, the chair of national builder, Paynters.

Mr Gardiner also owns a home in Indooroopilly, Brisbane.

The Noosa house has five bedrooms and five bathrooms and occupies an incredible 1035 sqm of living space, while the 1020 sqm block features a 48m water frontage.

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From the entry foyer, a bridge leads over a pond and into an open-plan living, dining and kitchen area with views to the water.

The design includes a voided ceiling space, double-sided stone fireplace extending two levels, bar and polished timber and travertine flooring.

In the kitchen are an island bench, butler’s pantry and stone-topped cabinetry. Doors open to a covered terrace looking to the water and a smaller covered terrace with views to a pool, spa and day bed towards the front of the property.

On the upper level, the main bedroom has a dressing room, ensuite with a separate spa bathtub and double shower, an outdoor shower and access to a terrace looking to the water. Also with access to the terrace are a study, retreat space with a fireplace and bedroom with a walk-in wardrobe and ensuite with a shower.

In a separate wing towards the front of the design are a laundry with access to a drying court, and bedroom with a walk-in wardrobe, ensuite with a separate bathtub and shower and access to a wraparound terrace looking to the pool. The ground-floor terrace looking to the water also features an integrated barbecue and leads to a jetty.

Other features include a boat ramp, boat house, workshop and garden store.

The Sunshine Coast market is known for attracting some of the country’s wealthiest, with Australia’s richest woman Gina Rinehart, Kevin Rudd and Therese Rein, former racing car champion Mark Webber, celebrity accountant Anthony Bell, and TV presenter Karl Stefanovic all holding property in the tightly held area.

Values surged more than 50 per cent across Noosa’s top suburbs in the five years since Covid began, but have since softened in some areas, although the median house price in Noosa Heads has grown nearly 20 per cent in the past 12 months to $2.35m, according to PropTrack.

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