Gold Coast real estate: Jaw-dropping $10m land deal

85 Admiralty Drive, Paradise Waters has sold in a $10m mega deal.
A buyer has dropped $10 million on a “once-in-a-lifetime” parcel of land in Surfers Paradise on the Gold Coast.
It is $2 million more than the 1600sq m property, at 85 Admiralty Drive, Paradise Waters, sold for in April, 2021.

85 Admiralty Drive, Paradise Waters looking south.
The latest sale traded through Mitch Palmer of Ray White Broadbeach Waters who described the property as an “irreplaceable blank canvas to build the latest waterfront masterpiece”.
“The sale represents the highest price ever achieved for a single, vacant waterfront block on the Gold Coast,” Mr Palmer said.
“Excluding development sites, it smashes previous vacant land records.”
The sale price equates to $6250 per square metre.

An aerial view of 85 Admiralty Drive, Paradise Waters.
Mr Palmer remained tight-lipped on both the buyer and seller but records reveal the seller is Maree Anderson, wife of Hayman Homes founder Steve Anderson.
Property records show although Mr Palmer sold the property off-market, it had been on and off the market with another agency since November, 2022.

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85 Admiralty Drive, Paradise Waters looking east.
The vacant block has a northeast point position and includes 64.9m of water frontage.
“The price signals signifies the rarity of the position — a hard to find, northeast point in arguably the Gold Coast’s most exclusive waterfront suburb,” Mr Palmer said.
“Blocks like this are usually once-in-a-lifetime opportunities.
“The point position captures divine city skyline views and is ideal for large vessel mooring being minutes to the Broadwater.”
The highest residential land sale on the Gold Coast is $17.5m, paid in 2021 for a double beachfront block at 139-141 Hedges Ave, Mermaid Beach.
A triple block at 15-19 Parklane Terrace, Sovereign Islands also sold for $10m in 2021.

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