A late entry to the bidding field gathered for the auction of the iconic Broadbeach Waters residence known as The Corner House has walked away with the keys.

The Robina investor registered just as the auction of 70 T E Peters Drive was about to begin, having earlier spotted the eye-catching property on social media messaging app WeChat.

Four local parties registered to bid on the show-stopping new build, designed by celebrated architect Paul Uhlmann as a display piece for custom home builder Sanctuary 28.

No expense was spared in the development of the project, completed two years ago, with the intention of highlighting the advantages of custom designing a home to suit the block.

Bidding kicked off at $2,000,000, jumping in increments of $50,000 until the $2,500,000 mark. Watched on by a crowd of more than 50 spectators, including Sanctuary 28 owner Don Cotterill, the auction paused for negotiation at $2,550,000.

The property was declared to be on the market with a final bid of $2,650,000 closing the campaign led by Kollosche agents Troy Dowker, Sam Guo and Julia Kuo.

“The property was well-received by the market and leaves a great legacy for Broadbeach Waters, particularly being in such a prominent position,” says Troy.

“It really does show what’s possible with smart design and quality building work. The attendance at today’s auction and the interest in the property reflects that.”

A considered design counteracts the original challenges posed by the waterfront block, which occupies the corner of T E Peters Drive and Rio Vista Boulevard.

Owner-builder Don Cotterill described the sale as a win for Broadbeach Waters, which has been largely transformed in recent years by designer new builds.

“This house has been turning heads from day one,” says Don.

“It’s a good result for the area and we’re pleased to see the home go to a new owner who can no doubt enjoy all of its benefits.”

A stepped white brick and timber facade catches the eye from the street, while inside a tropical courtyard garden forms a focal point at the centre of the home.

Main living areas open onto a rear deck, plunge pool and lush lawn with canal access, while the upstairs master bedroom suite enjoys water and city skyline views.

Repeated use of natural stone, marble and timber finishes create flow throughout the home which is jam-packed with hidden features including heated bathroom tiles, recessed curtain tracks and soft sensor lights.

The median house value in Broadbeach Waters sits at $1,700,000, based on CoreLogic data for the past 12 months when land values have jumped by more than 40%.