A LANDMARK Mermaid Seaside residence listed for $16.5 million is anticipated to draw huge curiosity as alternatives tighten alongside the town’s most unique beachfront strip.
The lavish four-level residence at 159 Hedges Ave is among the many most costly properties on Multi-Millionaire’s Row, having final bought for $13.25 million in 2016.
The premium property is listed by status company Kollosche, with director Michael Kollosche advertising and marketing the 564 sqm beachfront holding for the third time alongside Ryan Ward.
“It’s a recent dwelling with architectural enchantment on an even bigger block than the usual 405 sqm,” Mr Ward stated.
“Given current gross sales alongside the beachfront and the current state of the market, we’re anticipating important curiosity from locals and interstate.
“Nobody is promoting alongside Hedges Ave, they’re all holding onto their properties, so there will not be any alternatives like this for a while to return.”
Described as a “uncommon, iconic property”, the property boasts an extended listing of luxurious options together with marble flooring, a high flooring moist bar and media room, a six-car basement, sauna, health club, pool and wine cellar.
The designer residence was inbuilt 2007 by pubs and pokies billionaire Bruce Mathieson and his spouse Jill who paid $7 million for the nook block with an older home in 2003.
The Mathiesons handed the keys to the six-bedroom stunner to administration rights business veteran Frank Picone and spouse Adele in 2009 for $13.25 million.
That’s the identical worth paid in 2016 by distributors Baiyan Cheng and Jinmin Qu who are actually poised to capitalise on the most popular market the town has seen in a long time.
The $22.6 million sale of 187-191 Hedges Ave, Mermaid Seaside established a brand new road file in August, trumping the $19 million paid for 213 Hedges Ave in 2006.
In Could of this 12 months, a $25 million contract was signed on 2 Heron Ave, Mermaid Seaside, the previous household dwelling of Breakfree founder Tony Smith and spouse Simone.