It’s official: Clive Palmer pays $20m for neighbouring ‘titanium’ house

7-13 King Arthurs Court, Sovereign Islands, was bought by Clive Palmer for $20m.

Clive Palmer has parted with a cool $20 million to acquire the futuristic-looking house adjoining his existing Sovereign Islands home.
The deal was confirmed this week by agent Patrick Pancur of Bespoke International after Mr Palmer was named as the buyer of the property when it went under contract in August for a then unreported price.

Clive Palmer was recently revealed as the buyer behind the landmark sale. Photo: Jono Searle/Getty Images

The sale of 13-17 King Arthurs Court is the second-biggest on the Gold Coast this year, and the third-highest transaction for Queensland in 2021.
Mr Pancur said it was a swift sale, with Mr Palmer falling in love with the property upon first glance, leading him to lock-in a deal the same day.
“It was pretty straightforward. Clive came in with a cash unconditional offer and said he wanted it, and that was that,” Mr Pancur said.

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The home at 7-13 King Arthurs Court took $13 million to build.

“I guess it was just the right time for him to buy and it is the biggest sale Clive has done in the residential space, which just shows what the market is doing.”
The sale is $10 million short of the $34 million the property hit the market at in 2017. The price was dropped earlier this year to $24 million, but Mr Pancur said it had found its mark at $20 million.
The purchase gives Mr Palmer a string of nine consecutive blocks along the Sovereign Islands’ promontory, from No. 1-5 through to No. 13-17, and will make him the owner of the largest residential landholding on the Gold Coast.
Mr Pancur indicated that Mr Palmer had big plans for one of the adjoining sites but would not be drawn on what they might be.
The mega mansion at No. 13-17 is thought to be one of the largest homes on the Coast, spanning four blocks of more than 3075sq m.

Webb House in Sunshine Beach has sold for $34 million dollars.

It was owned by German super yacht builder Klaus Lilischkies and his wife Leigh, who spent $13 million creating the mini resort they referred to as Chateau de Reves, French for “castle of dreams”.
Locally it has been dubbed the “titanium house”, likely for the extensive German engineering, which includes a bulletproof bedroom and steel-spine staircase, imported from Italy.
The house, which was the couple’s holiday home, was designed by architect John Lea and took three years to build.

The Gold Coast’s biggest sale this year is still 5 McMillan Court, Southport, at $23.75 million.

Its sale come behind the recent $34 million offmarket deal for a beach house on a battle-axe block in Sunshine Beach on the Sunshine Coast. The $34m deal was too good for owners Margie and Murry Charlton to refuse being almost double the $18m their neighbours received for their home, which is twice the size, three years ago.
The buyer’s identity remains a mystery.
On the Gold Coast, Mr Palmer’s purchase sits only behind the sale of 5 McMillan Court in Southport which was this week revealed to have settled for $23.75 million to an unreported buyer.

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