Tidemark, Mermaid Beach sold for $25 million

A Melbourne buyer is tipped to have bought the beachfront home on Albatross Avenue. The unconfirmed buyer according to The Australian is tipped to be Rich Lister Manny Stul, the owner of the company behind the Shopkins toy craze, and the first Australian to be named Ernst & Young World Entrepreneur of the Year.

Stul is the executive chairman of Melbourne-based Moose Enterprises.

Michael Kollosche said the sale was the culmination of five months marketing.

A Chinese buyer agreed in June to pay $27.8 million but the deal faltered on foreign investment issues.

The Perrin price is not a record residential sale for the Gold Coast.

In 2008 BreakFree founder Tony Smith sold an uncompleted mansion in Hedges Avenue to later-failed internet whiz Daniel Tzvetkoff for $27 million.