2021 record sale: iconic Southport mansion sells for just shy of $25m

A GOLD Coast home priced at $25m has gone under contract after just 11 days in what will mark the biggest residential sale for Queensland in 2021.

The property known as “Alston” at 5 McMillan Court, Southport, is an iconic chateau-style mansion spanning 3,442sq m on the Nerang River.

Marketed by Carlie Mills and Amir Mian of Amir Prestige, the sale is set to go unconditional next week for “close to asking price”, and while Mr Mian could not disclose the buyer’s identity he did say they were “local, with an interstate background”.

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In what is a heated prestige property market, Mr Mian said he was not surprised by the speed of the sale with the property attracting multiple offers from local and interstate buyers.

“The house is in a unique precinct,” he said. “It’s very desirable and the opportunities that come up there are very limited.

“There are streets on the Gold Coast you can pinpoint that are recognised nationally, Hedges Ave, Anchorage Terrace etc… McMillan Court is one of them.”

The Southport mansion is owned by transport tycoon Peter Smith, who bought the house under receivership in 2013 after the former owners, developer Graham Spottiswood and his wife Suzanne, went bankrupt. The $9.8m Mr Smith paid for the property at the time was less than half its $22m price tag.

Resembling something out of the Great Gatsby, the iconic property was originally designed by renonwned architect Bayden Goddard and Mr Smith has spent more than $14m on renovations

and upgrades to the six-bedroom property in the exclusive TSS precinct.

Some of its highlights include a grand dual staircase, parquetry flooring, marble bar, wine room, executive office with a two-level library and a spiral staircase, a lavish master suite, heated indoor pool, gym area, spa and sauna plus a basement garage with space for six cars.

Ms Mills said the property’s popularity came down to its quality build, timeless styling and central Gold Coast location.

“There is nothing like it on the Gold Coast, or possibly Australia. As soon as it launched, everyone knew the house and what a quality build it was,” she said.

Once unconditional, the sale will mark the highest price paid for a residential property on the

Gold Coast this year, and the third-highest sale on record in Queensland.

The highest recorded sale was achieved in October 2020 when 41-45 The Promenade on the Isle of Capri sold to a buyer from Sydney for $27m, also through Amir Prestige.

It superseded the $25m sale in May 2020 of a Mermaid Beach trophy home on Hedges Avenue.

The sale is the latest in a string of high-ticket purchases being made on the Gold Coast.

A mansion at 159 Hedges Ave, Mermaid Beach, sold to a Melbourne businessman for $15.75m in February, while in January entertainment supremos Billy and Jackie Cross sold their home at 297-299 Monaco St, Broadbeach Waters, for $12.5m. Both sales were through Kollosche Prestige.

Also in February Bob and Russell Rollington of First National sold 30 Seafarer Court in Paradise Waters for $11m to high-profile lawyer John Ramsden.

“The central Gold Coast is so sought-after at the moment because everyone wants to buy in to the lifestyle here,” Ms Mills said.

“We basically have a back-up buyer for every property, and it’s not all interstate buyers, locals are very active too.”

While the price achieved for the Southport mansion will not come close to the eye-watering $33-$35m paid for Seven Network executive Bruce McWilliam’s Point Piper waterfront home in Sydney, Ms Mills said high-end Gold Coast properties were holding their own when it came to national sales records.

The McMillan Court sale will be on par with two of the highest recorded residential property sales in Melbourne this year, both of which were reported to have changed hands at about the mid-$20m mark.

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