The view from 21 Hedges Ave, Mermaid Beach
A 1960s shack on an absolute beachfront block on Hedges Ave has changed hands for the first time in more than 30 years in a hushed deal.
A local investor snapped up the 405sq m lot along Mermaid Beach’s tightly held ‘multi-millionaire’s row’ following an expressions of interest campaign attracting inquiries from high-profile interstate and international buyers.
Marketing agent Mark Winsen, of Leo and Co Real Estate, did not disclose the sale price, however it is understood the buyer paid about $9.25m for the blue-chip holding.
The shack has three bedrooms and one bathroom
The three-bedroom, one-bathroom cottage at 21 Hedges Ave hit the market in June, with close to 100 inquiries received before it went under contract.
Brisbane accountant James Carolan last purchased the property for $670,000 in 1992, records show.
It had been listed for rent at $1150 per week in 2018.
Mr Winsen said it was one of the strip’s few remaining original holiday shacks, which had been progressively replaced with luxury homes and boutique builds capitalising on sky-high land value.
“Hedges Ave being what it is, we had a lot of interest and perhaps 12 people who would have gone to contract,” he said.
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The listing described the property as, “a rare opportunity to build the home of your dreams on Hedges Ave.”
“Of all the beautiful places you could live in Queensland, Hedges Ave in Mermaid Beach is one of the most spectacular of them all.”
The modest house had an updated kitchen and separate living and dining areas as well as a lock-up garage and rear deck to watch the waves roll in.
Just one other absolute beachfront block is currently listed on Hedges Ave, a 1975-built two-storey house on 405 sqm with a $9.5m price tag.
Surf check here.
The property at no.69 is held by Sara Kirby, wife of Village Roadshow boss Clark Kirby, and last changed hands in 2019 for $5.15m.
It is marketed by Dane Atherton, of Harcourts Coastal.
“Hedges Ave is one of the most tightly held streets in the city with just 78 private home holdings … however, the number of blocks is shrinking yearly with the amalgamation of larger blocks,” the listing states.
The last recorded sale on Hedges was of a double block at 143-145, snapped up by PointsBet founder Andrew Fahey and his wife Katrina Luland for $19.2m in November 2022.
69 Hedges Ave is owned by Village Roadshow boss Clark Kirby and wife Sara
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