Gold Coast property market starts 2023 strong with $7.3m penthouse sale

FORMER cattle farmers who swapped country life for a penthouse on the beach have sold their Gold Coast digs for $7.3 million.

Vendor Dean Willaton and wife Theresa paid $5.05 million for their Broadbeach penthouse in April, 2020, and traded life on a cattle station at Mitchell, seven hours west of Brisbane.

The living area.

“We decided to downsize our business out there and Therese and I came to the Coast to semi-retire,” Mr Willaton said.

“Our daughter was also doing Year 11 and 12 here so it just made sense.”

The couple had planned to take the luxury property to auction this month, but received an offer too good to refuse — netting them a $2.25 million profit in less than three years.

Marketing agent Tolemy Stevens, of Harcourts Coastal, said the property had attracted plenty of interest since it hit the market last month.

“We had an extremely strong response and I felt like I needed second phone to yield off the inquiries that were coming through,” Mr Stevens said.

“We had 85 email inquiries, 33 private inspections and multiple offers submitted prior to auction.

“On Saturday a buyer conducted a private viewing and absolutely fell in love with what was on offer and by Tuesday night they bought it.”

Mr Stevens said the property, which he described as a “unicorn” was one of the best two-level beachfront penthouses he had marketed.

“The location being in within an ultra exclusive new building of only seven residences was something the market really resonated with,” he said.

“It had one of the best floor plans I have seen and the views of course are absolutely stunning.

“The fact you’re in a penthouse and on the seventh and eight floors but also felt connect to the sand and surf was certainly an appeal we found that the market really liked.”

Wake up to views every day!

He said the buyers, an interstate couple, would use the property as their holiday home.

“The sellers were very happy with the result prior to auction with a quick cash settlement with no conditions,” he said.

The floorplan offers 452sq m of living space with four bedrooms, four bathrooms, library, butler’s pantry, wine cellar and private lift.

Entertaining is a breeze with a massive balcony that will comfortably seat a romantic dinner for two or accommodate a cocktail party of 50.

Mr Stevens said the outlook for the Gold Coast prestige market was positive.

“Despite starting to see some negative forecasts and outlooks, I can say that the response we’ve had over the past four weeks and the number of genuine buyers we have seen certainly contradicts that,” he said.

“The beachfront on the Gold Coast is showing no signs of slowing down and the volume of buyers is increasing, not decreasing.”

“The Gold Coast is shining and who wouldn’t want this lifestyle.

“The sun, sand, surf, open spaces — it’s attracting a lot of people at the moment who are seeing how sort-after this lifestyle really is.”

The kitchen overlooks the ocean.

Mr Willaton said his family had sold to make the move to the Sunshine Coast.

“We’ve had so much fun here,” Mr Willaton said.

“But it’s time to get back to work.

“We’ve bought a small acreage on the Sunshine Coast where we are going to breed and train quarter horses.

“We are getting back to what we know.”

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