1525 Riverdale Dr, Hope Island.
A GRAND Gold Coast mansion built on 11 titles has sold sight unseen to an interstate buyer who bagged the estate for millions less than it fetched in its heyday.
A $5.75 million contract on the Riverdale Drive residence known as Harbour Point went unconditional last night, with the sale due to settle in December.
1525 Riverdale Dr, Hope Island.
Professionals Vertullo Real Estate agent Mark Carew said the interstate buyer was one of several who made offers to buy the estate sight unseen.
“The borders being closed made it harder for interstate buyers,” he said.
“There were multiple offers from parties outside of the Queensland who see the value.”
The 1800 sqm trophy mansion sits on a 4982 sqm point position making it the biggest residential holding within the prestigious Rosebank Gardens Estate.
The Mediterranean-style home was built by national car-warranty business owner Gary Chuck and wife Suzanne, who fetched $9.39 million when they sold the prize home in 2004.
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1525 Riverdale Dr, Hope Island.
The estate was sold again five years later for $9 million, this time to Chinese buyers capitalising on what was a GFC market.
An auction last month saw the property passed in, with $4.5 million the best bid from one of four registered bidders.
The property was then listed for offers over $6.5 million.
Mr Carew said the sale was the highest in the Hope Island Estate this year and the latest in a string of $3 million plus sales.
“This sale is a record for the Hope Island Resort this year,” he said.
“Property on the northern end is really going strong.”
The estate was passed in for $4.5 million at auction last month. Photograph: Jason O’Brien
The new owner intends to renovate the 16-year-old residence before moving in, allaying fears among local residents that the house might be bulldozed.
“It will be renovated and restored to its former glory, maybe even better,” Mr Carew said.
“It is good news for Harbour Point as a lot of people wanted to knock it down, but this buyer plans to restore it.”
The three-bedroom house features towering gilt columns, decorative dome ceilings and ornate balustrades which were in vogue at the time.
1525 Riverdale Dr, Hope Island.
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