Best mate’s huge return on next-door knockdown in Coast’s richest market

The Sunbrite House sold under the hammer for $4.275 million
FORGET mate’s rates — a Mermaid Beach vendor has made a sizeable return on the home he built next to his friend’s after the pair snapped up side-by-side knockdown sites.
The four-bedroom, three-bathroom house at 34 Sunbrite Ave sold under the hammer for $4.275 million, representing a tidy profit for the seller, who purchased the 405sq m block for $1.35m in October 2020. It was the most expensive sale across the Gold Coast and northern NSW reported to last week.
The property was marketed by Daniel Donovan and Conner Malan, of Ray White, with Apollo Auction’s Justin Nickerson fielding bids from four active bidders. Six had registered to bid at the Saturday auction.
The four-bedroom, three-bathroom house has a luxurious coastal feel
The kitchen has a butler’s pantry
Mr Malan described the near-new build as, “the quintessential Mermaid Beach home”, with its bright and breezy good looks and quality inclusions attracting 142 inspections and 4 pre-auction offers during the campaign.
The vendor and his friend had negotiated an off-market deal totalling $2.725m to purchase the double block, comprising the lot which went under the hammer as well as the neighbouring 405sq m site.
The lifelong mates, who were originally from South Africa, demolished an existing small block of flats on each of the sites, and built two designer homes.
Mr Malan said the pair, both boutique developers, had planned to live next door to one another but the owner of no.34 made the reluctant decision to sell and move to a more accessible home due to a medical issue.
Al fresco entertaining in style
Heated magnesium pool
“The intention was never to build to sell but he became unwell during the build and can’t use the stairs in the home,” Mr Malan said.
“Typically, because the land is so expensive in Mermaid Beach, owners tend to buy the block then scrimp on the build because they know they will flip it, but this was a very impressive build and a really well-finished house.
“Buyers are savvy now and they are willing to pay for a quality build with a suspended slab,” he said.
Dubbed The Sunbrite House, the double-storey property located just 180m from the beach was designed by Habitat Studios and oozes street appeal with its all-white exterior accented with natural stone.
Inside, the neutral palette is extended with timber finishes for a fresh coastal feel, with features including a stacked stone gas fireplace, oak flooring, raked ceilings and a contemporary floating staircase.
Raked ceilings in the bedrooms
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There’s also a travertine entertaining terrance with built-in barbecue kitchen leading onto a mosaic-tiled heated magnesium pool.
Mermaid Beach retains the title of the Gold Coast’s most expensive market, with an eye-watering median house price of $3.1m.
PropTrack data shows home values in the suburb were up 24 per cent over the past 12 months.
A total of 32 properties were sold from 89 scheduled to go under the hammer across the Gold Coast and northern NSW last week.

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