A Melbourne buyer looking to escape the city amid the COVID crisis has splashed $12.5 million on a sprawling resort-style estate, setting a new main river record.
The contract on the luxury 3300 sqm holding at 249-255 Monaco Street went unconditional today in one of the biggest deals on the Gold Coast so far this year.
249-255 Monaco Street, Broadbeach Waters has sold for $12.5 million.
The sale tops the $12.45m paid for 15 Southern Cross Drive, Cronin Island in June for the luxury mansion which was once home to Billabong International CEO Matthew Perrin.
Marketed as a world-class property asset, the neo classic Monaco Street residence, known as Villa Cantarocco, drew worldwide interest during a 90-day campaign.
“We had 212 inquiries through our campaign, with interest from Europe and three significant buyers out of Melbourne,” said Savills Gold Coast Director Christopher Jones, who led the campaign with Aydan Mullin.
“There were two offers on the same day, one from Sydney and the other from Melbourne, which were fairly close.”
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A Melbourne couple plans to relocate to the Broabeach Waters estate.
The Melbourne buyers, introduced by Rebecca Moffrey of The Professionals Mermaid Beach, are relocating to the Gold Coast in what has become a fast-growing trend.
Mr Jones said another Melbourne couple had purchased 165 Monaco Street for $3.1 million and Sydney and Melbourne buyers were circling a four-bedroom house at 155 Monaco Street.
“There’s definitely a change in appetite, related to COVID-19, among people wanting to get out of those high population areas,” he said.
“The Gold Coast has always been the number one postcode for internal migration in Australia but this has just made it more attractive.”
Villa Cantarocco drew worldwide interest.
The five-bedroom Villa Cantarocco boasts 43 metres of prime river frontage as well as a 17m swimming pool, pontoon, jetty and a six-car garage.
The sale is the latest in a string of prestige property deals on the Gold Coast this year, led by the $25 million sale of Breakfree founder Tony Smith’s Mermaid Beach mansion in May.
The same month Simon and Tah-nee Beard – the couple behind Gold Coast streetwear giant Culture Kings – paid $11.75 million for a Bali-inspired mansion on Isle of Capri.
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