Inside Gold Coast Mayor Tom Tate’s multimillion dollar mansion trade

Gold Coast Mayor Tom Tate and wife Ruth. Picture: Glenn Hampson
Gold Coast mayor Tom Tate and his wife Ruth have dropped $4.25m on a lavish waterfront home at Surfers Paradise.
It is the latest tweak to the high-profile pair’s ever-evolving multimillion dollar blue-chip portfolio, following the sale of a resort-style home in Carrara earlier this year for $5.8m.
The Tates have banked about $20m from high-end property sales since 2020, offloading several other mansions including a palatial Sorrento home for $4.85m, and three in Paradise Waters, property records show.
Their new Hamptons-inspired home
Waterfront entertaining
Their latest acquisition is a Hamptons-inspired home off Main River with city skyline views.
It had been listed at $4.95m in June with Bob and Russell Rollington, of First National Surfers Paradise.
The double-storey four-bedroom, five-bathroom home in the prestigious Paradise Waters enclave was described as an “immaculately presented, coastal-inspired masterpiece”, with finishes sourced from around the world including Italian natural stone and raw timber.
“The home’s living areas are an exquisite example of impeccable craftsmanship,” the listing stated.
“It is positioned in a tightly held location, close to elite schools, cafes, shops, beaches and parkland.”
Features include high raked ceilings
The elegant kitchen
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Features include light-filled open living and dining areas set under soaring raked ceilings, and a formal lounge room with a stone fireplace.
The kitchen has a large butler’s pantry and opens onto a luxurious waterfront entertaining terrace with outdoor kitchen, overlooking the pool and private pontoon.
Upstairs, the spacious master bedroom has a walk-in dressing room and ensuite, and there’s also a four-station executive office equipped to deal with city business from home.
Property reccords show the 1980-built house last sold in 2019 for $3.05m after undergoing an extensive renovation.
PropTrack’s Quarterly Home Values report for the September quarter shows house prices in Surfers Paradise were up 7.5 per cent from the same time last year, to a median of $2.34m.
The pair have sold several mansions since 2020. Picture: Glenn Hampson

The post Inside Gold Coast Mayor Tom Tate’s multimillion dollar mansion trade appeared first on realestate.com.au.

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