‘Australia’s best waterfront home’ sold ahead of auction for record sum

Armorel set a Mermaid Waters suburb record. Fitness influencer Rachel Dillon, pictured inset
A showstopper home built on a waterfront parcel formerly owned by influencer Rachel Dillon has sold ahead of auction for a huge sum, snatching the suburb record from another luxury new build purchased by the fitness star last year.
An international buyer splashed $7.7m in a blistering cash deal to secure the glamorous Mermaid Waters home, named Armorel.
It was the highest residential sale recorded in the canalfront Gold Coast suburb, trumping a nearby mansion known as The White House, which sold to bikini model Dillon and her entrepreneur partner Tobi Pearce for $7.3m under the hammer in November.
The 2023 build has won a slew of design awards
It has resort-style features inspired by Florida’s luxury hotels
Both sales were handled by Kollosche agent, Taylor Kleinberg, with Brad Coyne (Armorel) and Jamie Harrison (White House).
Mr Kleinberg noted surging demand for luxury high-spec homes in the popular pocket.
“The market is moving very well, and Mermaid Waters has been ripe for new homes to hit the market,” Mr Kleinberg said.
“Up until now, there hasn’t been anything to underpin what new home sales should achieve and now we have not one, but two sales, creating a foundation for the suburb which it needed.”
PropTrack data shows house prices in Mermaid Waters were up 5.9 per cent over the past 12 months, to a median of $1.7m.
Tobi Pearce and Rachel Dillon. Picture: Instagram
Dillon paid $7.3m for a luxury property after selling her old family home. Picture: Instagram
Mr Kleinberg said several strong cash offers were presented to the vendors ahead of the scheduled March auction. The buyers were a family who moved to Australia from overseas three years ago and have been renting while in search of their new forever home on the Coast.
Armorel vendors Alissa Birch and Phillip Pezzi, of Capital Luxury Residences, acquired the 909 sqm parcel on the shores of Lake Wonderland from Dillon for $1.985m in January 2022.
They built a spectacular six-bedroom, five-bathroom home inspired by the resorts of south Florida in the US, its bold exterior of creamy stone and expanses of glass adorned by hanging greenery.
The build earned the top gong of Australia’s best waterfront development at last year’s Asia Property Awards, and was also among the nation’s most-viewed properties when it hit the market earlier this month.
A sunken fire pit with stunning wide water views at Armorel
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Standout features include a monochromatic steel spiral staircase, soaring voids with a 4m-wide skylight, media room, a sunken fire pit with built-in seating, poolside lounge, basketball court and a 12m pontoon.
A hotel-standard master bedroom has a dressing room resembling a fashion boutique and a lavish marble-tiled ensuite to match.
The Oceanic Dr site with a whopping 22.1m of lake frontage had previously been Dillon’s “family home”, but the original double-storey brown brick house was demolished to make way for Armorel’s statement in contemporary design.
‘The White House’ purchased by Dillon and Pearce in November 2023
Meanwhile, social media sensations Dillon and Pearce bought a sprawling double-storey house with a striking white exterior, itself one of the nation’s most popular properties for sale and attracting a capped crowd of 100 when it went to auction.
They moved in ready to host Christmas Day celebrations for family.

The post ‘Australia’s best waterfront home’ sold ahead of auction for record sum appeared first on realestate.com.au.

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