ALMOST $80 million in prime main river real estate has changed hands on the Gold Coast in the months since the COVID-19 crisis began, with two major sales bumping up the tally this week.
An unnamed buyer has signed a contract, believed to be shy of the $8 million mark, on a prime riverfront holding at 1-7 Cannes Ave, Surfers Paradise.
1-7 Cannes Ave, Surfers Paradise is under contract for a figure close to $8 million.
The deal comes hot on the heels of the $12.5 million paid by a Melbourne couple for 249-255 Monaco Street, Broadbeach Waters which went unconditional on Tuesday.
Confidence at the top end of town is at an all time high, with local and interstate buyers lining up to stash their cash in bricks and mortar on the Gold Coast.
“We are having our best month in the past seven years,” said Amir Prestige principal Amir Mian, who closed the Cannes Ave deal with Alex and Victoria Fleri.
“We’ve done $52 million in sales in the last 10 days alone.”
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Inside record-breaking $12.5m on mega mansion
The 600 sqm residence is the biggest on Cannes Ave.
The house design was considered ahead of its time when built in 2000.
The enormous 600 sqm house, built in 2000, is the biggest in Cannes Ave with 42.3m of Nerang River frontage on a 1658 sqm block bordered on one side by parklands.
Records show the property was sold by Fengliu Wu, who acquired the estate at a cost of $3.888 million in 2012.
A rendered impression of Cannes Waterfront Living apartments now under construction.
Marketed as having future redevelopment potential, the prime parcel sits just up the road from the Cannes Waterfront Living project where 85 per cent of the 96 units have been sold as construction begins, with price tags ranging from $579,900 to $2.55 million.
“There was a lot of interest locally in [1-7] Cannes, as well as from Sydney and Melbourne, because it is a unique property with development potential,” said Mr Mian.
The recent sales add to a growing tally of $2 million-plus prestige properties directly fronting the Nerang River which were sold or settled between May and August.
249-255 Monaco St, Broadbeach Waters sold for $12.5 million.
Earlier this week, the $12.5 million contract on 249-255 Monaco Street established a new main river record, topping the $12.45 million sale of 15 Southern Cross Dr, Cronin Island in June.
A grand main river estate bordering the Gold Coast Botanical Gardens at 108 Cabana Boulevard, Benowa Waters was passed in at auction on Wednesday.
Two of the six registered bidders are now negotiating on the four-bedroom residence on 1833 sqm which has been listed for offers over $3.15 million.
108 Cabana Boulevard, Benowa Waters is listed for offers over $3.15 million.
Main river sales over $2m between May-Aug 2020
$12.5m 249-255 Monaco Street, Broadbeach Waters
$12.45m 15 Southern Cross Drive, Cronin Island
$11.75m 1-3 La Scala Court, Isle of Capri
Circa $8m 1-7 Cannes Ave, Surfers Paradise
$5.7m 327 Monaco Street, Broadbeach Waters
$5.5m 113 Commodore Drive, Paradise Waters
$4.05m 26 Paradise Place, Surfers Paradise
$3.1m 85 Commodore Drive, Paradise Waters
$2.885m 92 Amalfi Drive, Isle of Capri
$2.88m 72 River Crescent, Broadbeach Waters
$2.855m 25 Ipsley Drive, Broadbeach Waters
$2.85m 25 Cleland Crescent, Broadbeach Waters
$2.475m 27 The Promenade, Isle of Capri
$2.02m 100 Amalfi Drive, Isle of Capri
*Source realestate.com.au (off-market sales not included)
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