Gold Coast prestige property agency Kollosche has rewritten Queensland’s residential property record books, securing both the state’s house and apartment price records in one week.

The latest deal, at 79-83 Hedges Avenue, Mermaid Beach, set a new Queensland house price record at $43 million, surpassing the previous $40 million benchmark established at Noosa Heads in August 2026.

It follows the $32 million sale of the Ultra Penthouse at NALU in Miami, which established a new Queensland apartment price record.

Both transactions were negotiated by Kollosche Selling Principal Michael Kollosche.

“To establish both the Queensland house price record and the Queensland apartment price record in the same week is an extraordinary achievement for our team and an important milestone for the Gold Coast property market,” Mr Kollosche said.

“Both purchasers are local, successful businesspeople who understand the Gold Coast market and recognise the opportunity to secure assets that simply cannot be replicated.”

Six offers for Hedges Avenue mansion

The four-level beachfront mansion at 79-83 Hedges Avenue was launched to the market on Friday with a $47.5 million asking price.

Interest came from local and interstate buyers, as well as one expatriate, generating six strong offers before a local businessman secured the keys for $43 million late on Saturday evening.

Occupying a 1,212m² elevated north-facing corner holding, the property comprises three adjoining beachfront allotments with 30 metres of absolute beach frontage.

The six-bedroom residence spans 2,241m² across four levels and is positioned on Hedges Avenue’s prestigious Billionaires’ Row.

Michael Kollosche was involved in the original site acquisitions, which brought together a neighbouring apartment block purchased in 2006 and a house at No. 79 acquired in 2007.

The existing buildings were subsequently demolished to make way for the four-level residence, completed in 2011 on the consolidated 1,212m² site.

The sale also eclipses the previous Gold Coast house price record of $28 million, paid by businessman Clive Palmer for 41-45 Hedges Avenue in 2024.

Record-breaking results at NALU Miami

The Hedges Avenue sale follows another major achievement for Kollosche New Projects, which secured the $32 million sale of the Ultra Penthouse at Monaco Property Group’s NALU development in Miami.

The transaction established a new Queensland apartment price record and is among several significant sales secured at the landmark Marine Parade project.

Other major sales include a penthouse for $26.25 million, as well as Ocean Residences for $14.5 million, $13.5 million and $13.25 million.

Strong demand at the top end of the market

Mr Kollosche said the recent sales reflected the resilience of the prestige property market, with buyers continuing to recognise the long-term value of scarce beachfront holdings.

“What makes these results particularly significant is the environment in which they’ve been achieved. Buyers are more discerning, confidence across the broader market has been tested, and yet we’re seeing exceptionally strong demand for properties that offer genuine scarcity, quality and long-term value.”

Mr Kollosche said buyers at the top end of the market were taking a long-term view of property ownership.

“These buyers aren’t making decisions based on where interest rates might be next month or short-term fluctuations in property prices. They’re looking decades ahead and recognising the value of owning something truly exceptional.”

“These results are a powerful reminder that even in challenging markets, exceptional properties continue to attract exceptional buyers.”