Tim ‘Sharky’ Ward sold his Surfers Paradise mansion at auction over the weekend.
Former loan shark Tim ‘Sharky’ Ward’s luxury Gold Coast mansion sold for almost $5.8 million at auction over the weekend with seven bidders battling it out for the keys.
Mr Ward, once dubbed one of the country’s toughest loan sharks, earnt a reputation as a money lender and nightclub owner.
He last year moved back to the Gold Coast from Thailand after more than a decade living abroad, and said his return was prompted by “devastating impacts of Covid-19” in Thailand.
The pool area.
Tim ‘Sharky’ Ward has sold his Paradise Waters mansion.
At the time he told the Gold Coast Bulletin he had left his former Glitter Strip lifestyle behind: “I’ll never be part of that again,” he said.
On Saturday, a crowd of more than 70 turned up to see his Surfers Paradise property sell under the hammer.
Bidding started at $3m before it quickly jumped by $1m.
There was a flurry of bids before the property was announced on the market after a $5.716m bid.
The property is on sought-after Admiralty Drive in Paradise Waters.
Almost every room offers river views.
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“(We had a) mix of local and interstate and we noticed an increase in overseas based buyers with two of the seven registered bidders based overseas,” said Surfers Paradise First National Real Estate agent Russell Rollington, who marketed the property alongside Bob Rollington.
“Many buyers saw the property just above land value or an excellent entry level main river buying opportunity.”
The property eventually sold under the hammer for $5.738m.
Mr Rollington declined to comment on the buyer or seller except to say both were pleased with the result.
Originally built in 2002, Mr Ward bought the palatial Surfers Paradise home from Shane Brewer and Maria De Fatima Brewer for $4.325 million in June 2008.
The dining area looks out to the pool.
The pad was earlier this year listed for sale with a price tag of $6.3 million with another agency.
It had previously been up for rent for $3200 per week and had also been listed on Airbnb.
The mansion overlooks the Nerang River on one of the ritziest streets on the Coast and comes with informal and formal living areas, a huge riverfront entertaining area, three-car lockup garage, study, polished timber floors, boat mooring space and pool.
“We had very sold interest and inquiry due to the location with about 50 buyer showings over the four week campaign,” Mr Rollington said.
“Paradise Waters main river properties rarely come onto the market and represent blue chip, sought after Gold Coast real estate.”
It is a boatie’s paradise.
The property is on the main river.
Paradise Waters has long been regarded as one of the Gold Coast’s premier waterfront hot spots.
Recent sales of newer and larger homes on Admiralty Drive and nearby Commodore Drive have sold between $13.6m and $19.3m.
The area has been a long term home to some of the city’s leading business heavyweights including Mayor Tom Tate and wife Ruth, developer tycoon Jim Raptis and wife Helen, and Titans co-owner Darryl Kelly.
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