Mermaid Beach mansion fetches $14.1m in rapid-fire bidding

89A Albatross Ave, Mermaid Beach
A luxurious three-storey dream home along the Gold Coast’s most exclusive stretch of sand has sold under the hammer for $14.1 million.
The Mermaid Beach mansion was the family home of Yatala industrial estate boss Tony Stephens and his stylist wife Alicia.
The four-bedroom, four-bathroom home on a 582sq m lot on Albatross Ave had been extensively renovated and landscaped since last changing hands in 2019 for $8.65m.
Marketing agent Amir Mian, of Amir Prestige, said six parties had expressed interest in purchasing the contemporary coastal home, with two registered to bid under auction conditions.
Bidding opened at $13m, with the eventual buyer coming in hot at $13.8m, then just two more bids of $13.8m and $14.1m quickly fired before the property was announced sold.
Long lunches here
The sleek kitchen has a butler’s pantry
“It’s a beautiful home on a block and a half, and for beachfront it’s fair value,” Mr Mian said.
Mr Mian said interstate and international buyers had been particularly active in the prestige market, driving bullish activity through the final weekend of the financial year.
“We’re seeing a massive influx of buyers coming in through our open homes, and people are there to buy,” he said.
“People who weren’t in a position to bid were also at the auction to monitor the market. We had other interested parties who would have bought it in a heartbeat if it didn’t sell at auction.”
The home was described as, “the perfect blend of relaxed luxury and understated elegance”, with features including polished concrete floors, warm timber accents, and natural stone textures.
The owners undertook extensive renovations and landscaping
The heated pool and entertaining terrace
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An eco fireplace surrounded by Calcutta grey marble makes a statement in the lounge area, while the sleek monochrome kitchen with butler’s pantry is completed with an oceanview dining zone and built-in bench seating.
An Australian blackbutt staircase leads upstairs, to three bedrooms and a cosy cinema room, and then to the top level which is given over to an expansive master bedroom suite with a large ensuite, twin walk-in robes, a backlit makeup station, study nook, and lounge area plus private balcony.
Polished concrete floors and a marble fireplace
The top-level master suite
The generous block size allows for multiple al fresco areas, including an oceanfront heated pool and travertine-tiled entertaining terrace with barbecue kitchen and separate deck with pizza oven, custom-built day-bed swings, and a tall basalt stone water feature set among vibrant flowering bouganvillea.
There’s also a six-car basement garage.
Albatross Ave is the city’s second-most expensive street behind Hedges Ave, also known as Multimillionaire’s Row.
Tuscany on Tamborine
The median house price on Albatross is $5.4m and on Hedges, $7.5m.
The Stephens retain a 1,214sq m property on Hedges Ave which was listed for sale earlier this year, as well as a stunning Hinterland acreage estate known as “Tuscany on Tamborine”, which is for sale at $3.65m with Amir Prestige agents, Deb Oliver and Adam Cain.

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