The title of the state’s most expensive home is currently held by Texas-based oil and gas boss Jamie Welch and his wife Fiona, who purchased a Noosa Heads waterfront property for a whopping $40 million in February, according to the Australian Financial Review .
The six-bedroom home set to overtake that title comes with 30 metres of beachfront and is owned by Jennifer Morris, who is reportedly linked to Barry Morris of apartment developer Morris Property Group.
Spanning four levels, the sprawling mansion occupies a 1212-square-metre block, with more than 2200 square metres of internal space.
The home features an infinity pool overlooking the beach, with a second pool and spa sitting on the rooftop, offering sweeping views of the coastline and Gold Coast skyline.
There’s also a cinema, wine cellar, two offices, a lift, a kitchen with a butler’s pantry and enough basement parking for 12 cars.
79-83 Hedges Avenue, Mermaid Beach QLD 4218
The master suite comes with its own beachfront balcony, dressing room and ensuite.
Selling agent Michael Kollosche of Kollosche said the combination of the property’s size and beachfront position makes it a rare opportunity for buyers.
“To secure three adjoining beachfront allotments in this position, with an elevated north-facing corner aspect, 30 metres of absolute beach frontage and a residence of this scale and construction quality is exceptionally rare,” he told the AFR.
The agent estimates that recreating the home today, including the price of the land, would cost a buyer between $65 and $70 million.
The property spans three blocks on the coveted Hedges Avenue, known as “Millionaire’s Row”, which is home to some of Australia’s wealthiest buyers.
Billionaire Clive Palmer broke the street’s price record in 2024 when he splashed out $28 million for a beachfront mansion previously owned by lotteries promoter David Kennedy.
Palmer has continued to add to his collection on the strip, paying $12.6 million for a home earlier this year, bringing his number of properties on the street to four.
“I love Gold Coast property, it’s not a big investment for me and I’ll do anything I can to keep the economy going,” he said in 2024.
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