The sale of an iconic mansion fronting the sand and surf on Hedges Avenue, Mermaid Beach has set a new 2022 price benchmark for the Gold Coast.

Kollosche Selling Principal Michael Kollosche and agent Harry Kakavas were behind the mega $21,000,000 deal on 159 Hedges Avenue, with negotiations completed off market.

This is the third time that Kollosche has sold the four-level residence which offers a 1,050m2 floor plan with six bedrooms, a gym, sauna, wine cellar and six-car basement garage.

The trophy residence, perched on 564m2 of beachfront land with a 13.8m frontage, last changed hands 16 months ago for $15,750,000 in a deal brokered by Michael Kollosche and colleague Ryan Ward.

Back in 2016, Michael Kollosche secured a $13,250,000 buyer for the same property.

Prized for its limited amount of absolute beachfront blocks and lack of high rise development, prices in Mermaid Beach have surged by 42% over the past year.

The median house price in Mermaid Beach now sits at $2,450,000 – the highest on the Gold Coast and second in Queensland to the quiet Noosa village of Sunshine Beach.

Mermaid Beach, and Hedges Avenue in particular, is among the most tightly-held real estate on the Gold Coast. There are plenty of buyers but never enough stock to satisfy demand.

Kollosche is privileged to work closely with prestige property owners across the Gold Coast and in Northern NSW to achieve premium results for their prized assets, both on and off the market.

If our team can assist in any way this week, please do reach out for a conversation.