Tidemark, Mermaid Beach trophy home sold for $25 million

Tidemark, the Mermaid Beach home of the Billabong executive Scott Perrin, has been sold for around $25 million.

A Melbourne buyer is tipped to have bought the beachfront home on Albatross Avenue.

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.