$8m bids secures family home of break-making dynasty
187-189 Monaco St, Broadbeach Waters, has sold at auction for $8m.
A ONE bid was all it took for a buyer to blow away any competition and secure the waterfront family home of a well-known Gold Coast bread-making dynasty.
The home at 187-189 Monaco St, Broadbeach Waters is owned by Warren Marrable, whose parents Harvey and Dulcie founded Gold Coast Bakeries in Mermaid Beach in the 1960s.
The home has been in the Marrable family for 54 years.
The family-owned company still churns out bread for Gold Coasters, although Warren and his wife Jo have since left the business.
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Warren recalls his move to the street well, back in a time when Monaco St was called El Paso Blvd and consisted of little more than farmland – a far cry from the elite address into which it has evolved.
The home was bought after one bid at auction.
With Warren having lived in the property since he was a child and raising his own family in the home in the years since, emotions were running high yesterday when it finally went under the hammer.
Perhaps fortunately the auction was over swiftly, with the buyer, who is a local, placed the first and only bid for the six-bedroom home on a 2,520sq m block over the phone for $8 million, which the Marrables accepted.
Selling agents Michael Kollosche and Jay Helprin of Kollosche were not able to disclose the identity of the buyer except to say that it was a local family who were looking forward to moving in to the trophy home to enjoy what it had to offer.
It was an emotional sale for family, who are downsizing.
Mr Helprin said while the Marrables were saddened by the sale, they were content that it would be going to a family who would hopefully enjoy it as they had.
In an earlier interview, Mr Marrable said the pair realised the time had come to downsize and that was behind their decision to sell.
He said they had no immediate plans to buy elsewhere, but would spend some time travelling around Australia “seeing some places we haven’t seen”.
Meanwhile, the new owners will take ownership of the house which features 1960s architecture but with a nod to modern day living and is shaded by shaded by a 90-year-old cottonwood tree.
The Marrables have renovated the home over time to keep it modern and updated.
The house has a sophisticated master wing with a water-view sitting room, private balcony, walk-in robe and ensuite, while three more bedrooms reside on the upper-level of the two-storey home.
Other features include an executive study, multi-purpose, fully self-contained guest quarters, landscaped gardens and mature trees, large pool with views of the Gold Coast skyline, and a 15m pontoon that will accommodate a large boat.