$15.5 million Gold Coast trophy home sale highest since GFC

$15.5 million Gold Coast trophy home sale highest since GFC
$15.5 million Gold Coast trophy home sale highest since GFC

A $15.5 million sale has been secured for a Gold Coast Isle of Capri house.

The sale of 57-59 The Corso to Chinese buyers is at the highest price achieved on the Gold Coast since the GFC-afflicted market of 2009.

It was sold by Mara Spong who had been seeking $15 million-plus for three years.

Her two-level semi-Balinese style mansion was first was marketed as having a replacement cost in excess of $20 million.

Other sales in the past three months include $13.25 million and $11.5 million on the Mermaid Beach oceanfront and $11 million on Cronin Island.

A sale worth close to $11 million is believed to be in train at Sanctuary Cove, according to the Gold Coast Bulletin.

The buyers of the Spong house are Hongbo Li and Liyan Song.

The sale was handled by Doug Hoang, from The Venetian Real Estate, Robina who is marketing, at $3.695 million, a 420sq m home in Knightsbridge Pde East at the Sovereign Islands, owned by the couple.

The last $15 million-plus sale on the Gold Coast was in 2009 just before the delayed arrival of the gfc to the Gold Coast.

The home was built by Doug Spong and then wife Mara in the 1990s.

It has six bedrooms and six bathrooms on a northeast-facing 2197sq m site on a section of the Nerang River known as the Adams Basin.

It has been sold with most of its furnishings.

Architectural firm Hamilton Hayes Henderson was engaged to design the house which was completed in 1999.

The official record for an Isle of Capri house is $6.35 million, paid to transport company operator Peter Smith by entrepreneurial businessman David Baird in 2012 which was recently resold at an undisclosed price.

Gold Coast


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