Aleisha Dawson, Property Journalist
79-83 Hedges Ave, Mermaid Beach is on the market at $47.5m.
A sprawling beachfront mansion on one of Queensland’s most well-known streets has hit the market with an eye-watering $47.5m price tag.
It is one of the most expensive properties ever offered for sale in the state.
The six-bedroom Gold Coast house in popular Mermaid Beach is on a triple block on the exclusive strip commonly referred to as Billionaire’s Row.
Its asking price sits above the $40m Queensland house price record set in August with the sale of a waterfront property in Noosa Heads.
79-83 Hedges Ave, Mermaid Beach. Picture: Supplied
Property records reveal the owner is Jennifer Morris — linked to prolific developer Barry Morris of Morris Property Group.
The family snapped up the house at No.79 at auction for $6.8m in 2007, having bought the apartment block next door the previous year for $12.75m.
The family demolished both and built a four level home on the 1,212sq m site in 2011.
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79-83 Hedges Ave, Mermaid Beach. Picture: Supplied
Marketing agent Michael Kollosche said the home was among the most significant residential properties he had ever brought to market.
“In almost 30 years of selling some of the Gold Coast’s finest properties, there have been very few opportunities that compare with this,” Mr Kollosche said.
“To secure three adjoining beachfront allotments in this position, with an elevated north-facing corner aspect, 30m of absolute beach frontage and a residence of this scale and construction quality, is exceptionally rare.
79-83 Hedges Ave, Mermaid Beach. Picture: Supplied
“There are properties you can recreate with enough money, and there are properties where the opportunity to acquire them simply may not exist again for generations. This is one of those properties.”
Designed to capitalise on its elevated position, the home spans an extraordinary 2,241sq m and combines double-height glazing, expansive living and entertaining spaces and uninterrupted ocean views.
There is a heated beachfront infinity-edge pool and alfresco terraces, while a rooftop retreat has a second pool and spa overlooking the coastline, city skyline and hinterland.
79-83 Hedges Ave, Mermaid Beach. Picture: Supplied
All four levels are connected by a lift, with six ensuited bedrooms, including an expansive oceanfront master retreat with a private balcony and dressing room.
A cinema, temperature-controlled wine cellar, gourmet kitchen with butler’s pantry, two dedicated home offices and basement garaging for at least 12 vehicles are among some of the home’s extensive amenities.
Michael Kollosche said the home at 79-83 Hedges Ave was one of the most significant residential properties he had brought to market.
Mr Kollosche said the sheer scale of the residence and the cost of replicating its construction added another dimension to the property’s value.
“Building a home of this size and quality today would be an enormous undertaking, both in terms of cost and the time involved,” he said.
“We estimate the cost to replace the property, including the underlying land value without any amalgamation premium, would be in the order of $65m to $70m in the current environment.”
Businessman Clive Palmer paid $28m in 2024 for this property on Hedges Ave.
Mr Kollosche said he expected strong interest from local buyers as well as interstate and overseas enquiry.
“Hedges Ave has consistently attracted some of Australia’s most successful businesspeople and prominent families because of its beachfront position, lifestyle and limited supply,” he said.
“We expect strong interest from local buyers who understand the underlying value and scarcity of Mermaid Beach beachfront property, together with interstate purchasers and Australian expatriates.
“Opportunities of this nature are exceptionally rare, and for the right buyer, this represents the chance to secure a generational asset that would be extraordinarily difficult to replace.”
The highest sale on Hedges Ave is $28m, paid in 2024 by businessman Clive Palmer for No. 41–45.
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