Chinese buyer spends $7.1 million on Carrara riverfront

Music industry veteran Graham Hutchison’s mansion at Carrara has been sold for $7.16 million to a Chinese buyer some six years after its listing.

It is a large Queensland riverfront estate at 30-32 Maryland Avenue. It was listed through the Lucy Cole, Ray White and Harcourts agencies.

The property has a pool, tennis court, gym and pontoon. 

It sold to Prosper Holdings Pty Ltd, which is associated with Stanley Chan. 

The Gold Coast Bulletin lists the sale as the third-highest for 2014 after 60 Admiralty Drive, Paradise Waters, which sold for $8.7 million and 72-74 The Sovereign Mile, The Sovereign Islands, which sold for $7.25 million.

The Sunshine-bound Hutchison bought the property in 2003 for $1.79 million and spent $1 million on renovations to the property in 2012.  

The 8,029 square metre block with 75 metre river frontage contains a 929 square metre two-level residence.

Hutchison was quoted in July this year in the Gold Coast Bulletin stating his property had recently attracted Chinese buyers.

“The Chinese love it because it’s huge, the two numbers (30 and 32) add up to eight ... you can land a helicopter and keep two horses."